FTA pushed Thai spices, export soared 93%

Published 2021년 5월 14일

Tridge summary

The Department of International Trade Negotiations has reported a 93% increase in Thailand's spice and herb exports in the first quarter of 2021, reaching a value of US $ 87 million. The growth is primarily due to the FTA with ASEAN countries, with exports to this market increasing by 154%. Other FTA markets including Japan, China, India, Hong Kong, New Zealand, and Australia also saw significant growth in Thai spice and herb exports. The Director-General urged farmers and entrepreneurs to focus on product quality and standards to capitalize on the expanding market and the price advantages offered by FTAs.

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Original content

The Department of International Trade Negotiations revealed that exports of spices and herbs in the first quarter of 64, valued at US $ 87 million, grew 93%, ASEAN market was number one, increasing 154% as a result of tax cuts under the FTA. On May 14, 2021 Mrs. Ormon Subthaweitham The Director-General of the Department of International Trade Negotiations revealed that spices and herbs are one of the products that export growth well. The first quarter of 2021 (Jan. Contributing factor As 13 FTA countries, including Australia, New Zealand, Chile, Peru, Hong Kong, Malaysia, Indonesia, Singapore, Brunei, the Philippines, Myanmar, Cambodia and Vietnam, have already exempted import duties from Thailand. (Excluding plants, drug groups) The remaining five countries still collect some tariffs, namely Lao PDR, dried chili collected at 5%, China pepper at 5%, Japan, seaweed extract at 30%, South Korea ginseng and ginseng extract. At 178.2- 603.4% and India pepper collected at 50%, cayenne ...

Source: Prachachat