Office of Agricultural Economics expects 3.8%-4.8% growth in agricultural industry

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BANGKOK, 9 August 2012 – The Office of Agricultural Economics (OAC) is expecting a growth of 3.8 to 4.8 percent in the agricultural industry due to a rise in the production of agricultural products.

Mr.Apichart Jongskul, Secretary-General of the Office of Agricultural Economics has revealed that the growth tendency in the agricultural sector will be between 3.8 and 4.8 percent in the second half of 2012, because outputs of major cash crops are on the rise while Thailand’s rivals are encountering natural threats.

However, Thailand’s agricultural production still has a risk of natural disasters and variable weather conditions, as well as several sensitive foreign factors, including the US economy and the Euro-zone debt crisis which could have a huge impact on the Thai agricultural industry.

Mr. Apichart added that the agricultural economic growth in the first 6 months of the year rose 2.9 percent from the same period of 2011, even though Thailand had to face problems of flood and drought.