Special Report: Future of Thai Pineapple Business

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Pineapple businesses and experts have gathered at a seminar to discuss the current situation of the industry and a future plan to make Thailand a center for pineapple trade. 

Minister of Commerce Boonsong Teriyapirom has presided over the opening ceremony of the ‘Pineapple Futures’ seminar aimed to address the key challenges faced by the pineapple industry and to support a new mechanism to help boost the industry’s revenue.

According to the minister, the canned pineapple industry of Thailand reigns at the top of the world as its export value exceeded 30 billion baht last year while the export volume accounted for 50 percent of all canned pineapples worldwide.

However, experts say the revenue generated by Thai pineapples is considerably low compared to the amount of supply produced. The situation is said to have been caused by the unpredictability of the market.

Vice President of the Pineapple Processors’ Group Vorathep Rangchaikul said that to eliminate such problem and create certainty, all pineapple businesses should enter the future market, a risk-reducing platform that guarantees the price and sales in advance.

According to Mr. Vorathep, the new mechanism will help assure the buyers and sellers of product availability and committed price and prevent price bluffing.

He added that the industry will push forward the plan to establish Thailand as the world’s hub for pineapple transactions, and with the help of the future market and its trusted program, Thailand will be able to attract other countries to enter the hub.

Canned pineapple will begin trading in the Agricultural Futures Exchange of Thailand (AFET) on September 28, 2012.

Information and Source

Correspondent : ศิปปชัย กุลนุวงศ์

Rewriter : Surapan Laotharanarit Surapan Laotharanarit

National News Bureau & Public Relations : http://thainews.prd.go.th