The Department of International Trade Promotion led a Japanese buyer delegation to sign a purchase agreement for bananas with farmers in Nakhon Ratchasima Province. The agreement involves the purchase of 5,000 tons of bananas, worth over 100 million baht.
Ms. Natthiya Sujinda, Deputy Director-General of the Department of International Trade Promotion, Ministry of Commerce, revealed that the department served as a witness in the signing of the banana trade agreement between farmers in the Sengsang District, Nakhon Ratchasima and the Japanese buyer delegation.
This transaction aligns with the benefits that Thailand has gained from the Japan-Thailand Economic Partnership Agreement (JTEPA), exempting taxes for 8,000 tons of bananas annually. The signed agreement involves the purchase of 5,000 tons of bananas by the Japanese buyers, valued at over 100 million baht.
Thai Gros Michel bananas are known for their delicious taste. After visiting the developed banana orchards and tasting the produce, the Japanese delegation expressed great satisfaction and believed that Thai bananas could expand the market beyond the tax-exempt quota of 8,000 tons per year.
Mr. Sayam Sirimongkhon, Governor of Nakhon Ratchasima Province, stated that the Sengsang District is the largest Gros Michel banana plantation in the province. With banana cultivation covering up to 1,350 rai (about 540acres) and an annual production of up to 8,100 tons, the district is well-equipped to meet the demands of the Japanese market in the coming year.
Moreover, the agricultural potential of farmers in the province, coupled with their development and market linkage through the Department of International Trade Promotion, indicates readiness to expand cultivation areas to meet potential future market demands. (TNA)