BANGKOK, Feb 27 – Thailand’s National Food Institute (NFI) has projected food exports from the country to expand by 6.2 per cent to Bt970 billion in values this year.
NFI Deputy Director Wichien Rerkpatanakit said Thursday that exports of food is expected to reach Bt970 billion, up 6.2 per cent, from last year due to the improving global economy since the International Monetary Fund (IMF) has projected global economic growth forcast for the year to 3.6 per cent, and the Thai baht will remain weakened at an average 31.34 per US dollar.
He said the cut of GSP (Generalized System of Preferences) privileges by the European Union (EU), increasing imports from a weakened baht and lowered sugar price due to declining global demand were factors
threatening the country’s food exports.
Even though domestic consumption has slowed as a result of political conflicts, the country’s food exports still see a bright outlook, thanks to expanding ASEAN economy.
NFI is committed to improve Thailand’s food industry in line with the launch of the Association of Southeast Asian Economic Community (AEC) next year. The institute has planned to promote good manufacturing
practices among some 500 processed food manufacturers as well as enhance skills of the industry’s 3,700 human resources. It will increase value of 107 farm products, while continuing to develop new products that meet consumer demand.