Thailand’s food export predicted to grow by 8.4 pct in 2022
The prospect for Thailand's food export is promising, with exports forecast to grow by 8.4 percent this year driven by higher global demand and a rise in the prices of commodities, energy and logistics.
Bangkok (VNA) - The prospect for Thailand's food export is promising, with exports forecast to grow by 8.4 percent this year drivenby higher global demand and a rise in the prices of commodities, energy andlogistics.
Director of the National Food Institute AnongPaijitprapaporn said food exports are expected to fetch a record 1.2 trillion THB (nearly36.31 billion USD) this year.
On January 24, the Thai Chamber of Commerce,the National Food Institute and the Federation of Thai Industries (FTI) issueda joint announcement saying that food exports rose by 11.8 percent last year to1.107 trillion THB, up 11.5 percent from a year before.
Thailand remains the 13th largestfood exporter in the world, unchanged fr🏅om the previous year, it said. However, the country's share in the world food market dropped to 2.3 percent in 2021. China is the biggest importer of Thailand's food, buying 271.67 billion THB, up 50 percent year on year./.
The Thai National Shippers Council (TNSC) remains optimistic about Thailand’s export recovery this year despite the new wave of COVID-19 infections is expected to further affect the export sector.
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has reduced its GDP growth forecast for Thailand to 0.5-2 percent from 1.5-3 percent due to the severe impact of the third COVID-19 outbreak despite bright export prospects this year.
On the back of an export boom in April, the Thai National Shippers' Council (TNSC) feels upbeat that the country's exports could rise by 10 – 15 percent this year.
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Illustrative image (Photo: Bangkok Post) 
