Thailand's food exports are projected to reach 1 trillion baht over the next two years driven by rising demand and an expected increase in food value, says the National Food Institute (NFI).
The institute also raised its forecast for food exports this year to 900 billion baht, up 12% from last year and 855 billion earlier this year.
NFI president Petch Chinabutr said the ambitious goal is achievable if Thailand manages to increase exports by 10% a year.
Food exports in the second quarter totalled 255.25 billion baht, a 24% increase from the same period last year due to rising food prices and agricultural products, causing exports to reach a new high in May and June of 90 billion baht per month.
Products with increasing growth include rice, sugar and fruit.
Pornsil Patchrintanakul, chairman of the Board of Trade's agriculture and food committee, said US debt concerns will not affect Thailand's exports, but other factors such as natural disasters and increasing oil prices will push up crop prices.
Panisuan Jamnarnwej, president of the Thai Frozen Foods Association, said although shrimp exports might be affected by a economic slump in the United States, exporters can adapt by reducing the size of shrimp.
"For instance, when anti-dumping taxes were imposed, we calculated there would be an increase in shrimp prices, resulting in lower consumption. But we adapted by using smaller-sized shrimp and decreasing the packaging size so consumers still felt each unit was the same price," said Dr Panisuan, adding that the smallest size was 120-190 shrimp per kilogramme.
"But if they get any smaller, they might look more like guppies."
Food operators are also urging the government to revitalise the "Kitchen of the World" campaign - a scheme once initiated by the Thaksin Shinawatra government to accelerate Thailand's plans to become a major world food exporter.
Mr Pornsil said the government should collect taxes on businesses or farmers that produce raw materials that are substandard or contaminated.
Source: Bangkok Post
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