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  1. #1
    Thailand Expat
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    Exports Recovering?

    Thailand’s Farm-to-Table Resilience Featured in Food Export Jump

    By Suttinee Yuvejwattana
    June 2, 2020, 4:00 AM GMT+7
    https://www.bloomberg.com/asia


    • Food and agricultural exports jump to highest ratio in 8 years
    • Diverse crops, added-value food technology lift overseas sales


    Thailand is returning to its economic roots as a food producer, with overseas demand for rice, seafood, fruit and other edibles bolstering exports even as the Covid-19 pandemic dents production and shipments of manufactured goods.

    The proportion of food- and agricultural-related exports to total shipments jumped to 19.7% in April, their highest level in eight years, Pimchanok Vonkorpon, director-general of the Commerce Ministry’s trade policy and strategy office, said in an interview Monday, even as total exports fell 3.3% that month.

    Fresh, frozen and processed foods, plus crops and other agricultural products, generally have accounted for 15%-16% of overseas sales in recent years, she said.

    “This may be a new normal for Thai exports,” Pimchanok said, adding that food and agricultural exports could surpass 20% of the total this year, with that level “likely to continue for quite some time.”

    “Even though this proportion can’t offset falling industrial shipments, it helps millions of people because of the long supply chain in the farm and food sectors,” she said.

    Thailand has long been a major exporter of an array of commodities such as rice, tapioca, sugar and pineapples. Some companies have also become world leaders in ready-to-cook meals, food processing and quality control.

    Those value-added technologies offer hope to millions of Thai farmers and food producers this year, when the economy faces its worst contraction in more than two decades. Thailand received no foreign tourists or related spending in April, according to official data, as borders were kept closed to fight the Covid-19 outbreak.

    Among Thailand’s biggest agro-industrial companies is Charoen Pokphand Foods Pcl, which generated 73% of its 138 billion baht of revenue in the January-March quarter from abroad. Its motto, the “kitchen of the world,” highlights divisions ranging from animal breeding to food processing, and frozen-meat shipments to prepared meals.

    Thai Union Group
    Pcl, which owns seafood brands including Chicken of the Sea and John West, is another leading food exporter.

    More Key Points:

    • Electronics exports will see an up-tick later this year amid supply-chain adjustments stemming from U.S.-China trade friction; the work-from-home trend will also boost demand, she said
    • Auto exports may improve as removal of lockdowns eases logistics and some people turn to cars rather than mass transit
    • The baht is unlikely to strengthen much because of the weak economy and low interest rates
    • Exports may still contract this year, but not sharply, she said
    • A rise in oil prices would boost oil-related products, which account for 11.5% of total exports, Pimchanok said
    • Thailand may enter technical deflation in May if the consumer price index contracts for a third straight month
    • Most prices of consumer products have barely changed, in line with weak demand, but CPI has been dragged down by energy prices
    Majestically enthroned amid the vulgar herd

  2. #2
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by tomcat View Post
    Thailand’s Farm-to-Table Resilience Featured in Food Export Jump
    Just doing our part up here on the farm.

  3. #3
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    Quote Originally Posted by Norton View Post
    Just doing our part up here on the farm.
    ...and doing our part down here on the table...

  4. #4
    Days Work Done! Norton's Avatar
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    Team effort.

  5. #5
    Hangin' Around cyrille's Avatar
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    Thailand is returning to its economic roots as a food producer, with overseas demand for rice, seafood, fruit and other edibles bolstering exports even as the Covid-19 pandemic dents production and shipments of manufactured goods.
    It's silly to call it a 'return' to anything.

    It's just a segment of the economy that has been less affected than others.

  6. #6
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by cyrille View Post
    It's silly to call it a 'return' to anything.

    It's just a segment of the economy that has been less affected than others.
    Thailand has long been a major food exporter and virus or no virus folks have to eat.

  7. #7
    ความรู้ลึกลับ HuangLao's Avatar
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    Quote Originally Posted by Norton View Post
    Thailand has long been a major food exporter and virus or no virus folks have to eat.

    .....and been a valuable feature in the general economy forever.
    Always was one on top of the heap.

    As in: surplus - ample to feed it's own and more than enough for the overwhelming export markets.

    Some are just becoming aware of this, I guess.

  8. #8
    Hangin' Around cyrille's Avatar
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    Unlike you being a knob, which has been universally recognised for quite some time.

  9. #9
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by Norton View Post
    Just doing our part
    Quote Originally Posted by tomcat View Post
    ...and doing our part
    Tomcat and Norton . . . who would've thunked it.

    Exports Recovering?-elderly-couple-walking-together-hills-holding


    (Yes, childish . . . but I did it. I went there!!! )

  10. #10
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    Quote Originally Posted by panama hat View Post
    Tomcat and Norton . . . who would've thunked it.

    Exports Recovering?-elderly-couple-walking-together-hills-holding


    (Yes, childish . . . but I did it. I went there!!! )
    ...I don't normally carry an orange bag...or wear dad jeans...

  11. #11
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by tomcat View Post
    ...I don't normally carry an orange bag...or wear dad jeans...
    That's Norton

  12. #12
    Thailand Expat
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    Quote Originally Posted by panama hat View Post
    That's Norton
    ...disagree...that's definitely my butt...

  13. #13
    Hansum Man! panama hat's Avatar
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    . . . at this stage I shall recuse myself from any further discussion . . . . . . a battle of ownership of old butts . . .

  14. #14
    Thailand Expat
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    Quote Originally Posted by tomcat View Post
    Food and agricultural exports jump to highest ratio in 8 years
    Diverse crops, added-value food technology lift overseas sales


    Thailand is returning to its economic roots as a food producer, with overseas demand for rice, seafood, fruit and other edibles bolstering exports even as the Covid-19 pandemic dents production and shipments of manufactured goods.
    Damned junta...

  15. #15
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by tomcat View Post
    The proportion of food- and agricultural-related exports to total shipments jumped to 19.7% in April, their highest level in eight years, Pimchanok Vonkorpon, director-general of the Commerce Ministry’s trade policy and strategy office, said in an interview Monday, even as total exports fell 3.3% that month.
    Quote Originally Posted by Klondyke View Post
    Damned junta...
    Thickhead

  16. #16
    ความรู้ลึกลับ HuangLao's Avatar
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    Quote Originally Posted by Klondyke View Post
    Damned junta...

    And the locals proper despite the oversight of a military/elite oligarchy.
    ...mind, it's not their first go round with this style of military style associations.

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