Tridge summary
Thai food exports in 2020 saw a contraction of 4.1%, resulting in a reduction of Thailand's global market share to 2.32% from 2.49% in 2019. This was largely due to the impact of COVID-19, the appreciation of the baht, container shortages, and increased transportation costs. However, exports to China, the United States, and the Oceania region experienced growth. The processed food product group saw a 5.6% contraction, contributing to 59.3% of the total food export value, while the export value of raw material agricultural products decreased by 2.0%. Despite these challenges, Thai food exports are expected to increase by 7.1% in 2021, reaching 1,050,000 million baht, driven by global market demand and rising agricultural and food prices. However, the target may not be met due to raw material shortages and the appreciation of the baht.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Reporter Report (18 Feb 2021) 3 organizations in the food industry, consisting of Mr. Pote Aramwattananon Vice Chairman Council of the Thai Chamber of Commerce Mrs. Anong Paichitprapaporn Director of the Food Institute Network agencies, Ministry of Industry And Mr. Wisit Limluecha, Chairman of the food industry group Federation of Thai Industries Jointly announce and detail the state of Thai food exports in 2020, trend direction for 2021, indicating that the value of Thai food products in 2020 is 980,703 million baht, a contraction of 4.1 percent, the share in the world market is reduced. To 2.32 percent from 2.49 percent in 2019, resulting in Thailand falling as the 13th food exporter in the world from the 11th position last year due to the impact of many factors Including the spread of COVID-19 The appreciation of the baht Container shortage And the increase in transportation costs while the year 2021 still has to go through several other checkpoints to expand the target of 7.1 ...
Source: Ththansettakij
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