Food shipments are unlikely to meet this year's target because the strong baht is putting more pressure on the industry's performance.
"The food industry by nature earns a thin margin at 3-5%," said Chatchai Boonyarat, vice-chairman of the Thai Chamber of Commerce. "Thai food exporters already hit by a wage hike are now finding it hard to survive in light of the continued baht appreciation."
The baht has gained about 6% so far this year, a relatively high rate compared with rises of 0.74% for the Chinese yuan, 0.69% for the Indian rupee and 0.1% for the Malaysian ringgit.
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