Exports Recovering?

**tomcat** · 02-06-2020, 09:04 AM

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

**Norton** · 02-06-2020, 02:42 PM

Originally Posted by tomcat

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

Just doing our part up here on the farm.

**tomcat** · 02-06-2020, 02:43 PM

Originally Posted by Norton

Just doing our part up here on the farm.

...and doing our part down here on the table...

**Norton** · 02-06-2020, 02:49 PM

Team effort.

**cyrille** · 02-06-2020, 03:12 PM

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.

**Norton** · 02-06-2020, 03:41 PM

Originally Posted by cyrille

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.

**HuangLao** · 02-06-2020, 05:12 PM

Originally Posted by Norton

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.

**cyrille** · 02-06-2020, 05:54 PM

Unlike you being a knob, which has been universally recognised for quite some time.

**panama hat** · 03-06-2020, 07:34 AM

Originally Posted by Norton

Just doing our part

Originally Posted by tomcat

...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!!!

)

**tomcat** · 03-06-2020, 07:40 AM

Originally Posted by panama hat

Tomcat and Norton . . . who would've thunked it.

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

)

...I don't normally carry an orange bag...or wear dad jeans...

**panama hat** · 03-06-2020, 08:41 AM

Originally Posted by tomcat

...I don't normally carry an orange bag...or wear dad jeans...

That's Norton

**tomcat** · 03-06-2020, 08:59 AM

Originally Posted by panama hat

That's Norton

...disagree...that's definitely my butt...

**panama hat** · 03-06-2020, 09:14 AM

. . . at this stage I shall recuse myself from any further discussion . . .

. . . a battle of ownership of old butts . . .

**Klondyke** · 03-06-2020, 09:41 AM

Originally Posted by tomcat

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...

**panama hat** · 03-06-2020, 10:24 AM

Originally Posted by tomcat

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.

Originally Posted by Klondyke

Damned junta...

Thickhead

**HuangLao** · 03-06-2020, 05:02 PM

Originally Posted by Klondyke

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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