Thai Food Export Value Expected To Rise 8% In 2007ff

The National Food Institute believes that Thai food exports would pick up in the fourth quarter due to the stabilized exchange rate.

Yuthasak Suphasorn, director of the Thai National Food Institute, said on Thursday that in the quarter food export value should be Bt156 billion and it should increase the annualized export value to Bt600 billion, or 7.8 per cent up from the 2006 level.

”Thai food exports are enjoying higher demand due to the continued economic growth of our trade partners,” he said. “However, the industry is facing difficulties in terms of the strong baht, the US economic slowdown, the increase in raw material prices, as well as raw material shortages.”

In the first eight months of this year, food export value reached Bt395 billion, up 9.7 per cent from the same period last year. Products that enjoyed the higher value were rice, sugar, tapioca and fresh vegetable. Those that suffered from a drop were processed tuna and canned pineapple due to the increase of raw material prices as well as raw material shortages.