Raw material export boost in Thailand
Thai exports for five key product exports; rice, cassava, palm oil, natural rubber and sugarcane rose 43.9% year-on-year to a record $16.96 billion in July.
Biggest gains in July, says Siripol Yodmuangcharoen, Commerce Ministry’s
permanent secretary, were in rice exports, up 212.1% to $756 million, rubber up
51.9% to $720 million and canned, frozen and processed food up 33.7% to $614
million.
Fresh and frozen fruit and vegetables also rose 31.8% to $221
million, and frozen and processed chicken rose 103.1% to $138 million, which, he
attributes to the “healthy growth in new export markets”, which expanded by
56.1%, while sales from traditional markets grew by only 33.2%.
According
to Rachane Potjanasuntorn, general director of the Export Promotion Department,
Thailand’s exports need to average $15,668 billion a month for the rest of the
year to achieve the 20% export growth for the year. To achieve that target, he
says, Thailand has to overcome challenges, such as the economic slowdown in the
US, EU and Japan.
