Food exports this year are expected to increase strongly, with the value reaching a record 1.01 trillion baht thanks to growing demand from Asian countries.
The market for food and commodities such as rice, cassava, chicken and canned pineapple will continue to expand next year, driving income from food shipments to surge to 1.08 trillion baht, according to the National Food Institute (NFI).
Trailing are Japan, valued at 110 billion baht, and China, at 99 billion baht, representing 13% and 11.7% of the total, respectively.
Next year, the NFI expects food exports to grow by 6.9%, fetching 1.08 trillion baht.
Boonpeang Suntiwattanatan, chairman of the food industries club at the Federation of Thai Industries, said Thailand now ranked as the world’s 15th biggest food exporter, with a 44% market share.
“In terms of ready-to-eat products, we have a 3.49% share and ranked 10th in the global market in the first eight months of the year.
“Last year, our ranking dropped to 14th, due largely to falling rice exports,” said Mr Boonpeang.