InfoQuest (September 9, 2021) -- According to Minister of Industry Suriya Jungroongroengkij, the manufacturing production index (MPI) rose by 2.9 percent, marking recovery growth of the food industry in the first seven months as a result of the Bubble and Seal measure implemented in factories.
The increasing supply of agricultural raw materials with the rise of global commodity pricesmeet the demand of processing plants.
The Thai government has launched multiple programs amid the resurgence of the pandemic to reduce living costs, stimulate the economy and promote the food industry to expand production scale.
Thailand's food exports amounted to 622.7 billion baht, up 4.5 percent year-on-year as market demand improved. High vaccination coverage rates in major trading partners, such as China, the United States and the European Union, brought about relaxed lockdown measures,and normal catering services. Thailand's exports to China were higher by 40.0 percent, and to the United States and the European Union also showed signs of recovery.
It is predicted that in the next five months, Thailand’s food output will continue to grow against the trend by 5.0 percent, and the exports will reach 427.3 billion baht, up 11.0 percent; food output will be 4.5 percent up fromlast year, and the exports will record 1.050 trillion baht, up 7.1 percent year-on-year, said Ms. Anong Paijiprapapon, Director of the National Food Institute of Thailand (NFI).
From August to December, the rising demands of major trading partners for Thai products will contribute to the development of Thailand's food industry. The declining food stocks in Asia, the Middle East and Africa also led to a surge in their import demand. The devaluation of the Thai baht has a positive effect on the exportsof Thai food.
In the coming months, the food industry will be hindered by failure to deliver products on time, slowdown in demands by multiple countries, and rising shipping costs. China may delay the import of agricultural products and food this year due to the accelerated import last year, resulting in a lower-than-expected increase in Thai food exports.
Factories are urged to conduct online self-assessment to take measures to fight against the COVID-19 pandemic, thereby mitigating the pandemic impact on production and export, and benefiting the food industry as the main pillar supporting the national economy, added Anong.
Source: InfoQuest, by Rachada Kongkhunthian/Saowalak Ouypron, translated by Xinhua Silk Road
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