Food exports this year are expected to increase strongly, with the value reaching a record 1.01 trillion baht thanks to growing demand from Asian countries.
The market for food and commodities such as rice, cassava, chicken and canned pineapple will continue to expand next year, driving income from food shipments to surge to 1.08 trillion baht, according to the National Food Institute (NFI).
NFI president Petch Chinabutr said food exports to Asean ranked the highest at 187 billion baht, an estimated 22% of total revenue this year.
Trailing are Japan, valued at 110 billion baht, and China, at 99 billion baht, representing 13% and 11.7% of the total, respectively.
Despite the sluggish economy, Europe imported some 93 billion baht worth of food from Thailand this year, while exports to the US accounted for 90 billion baht.
Mr Petch said high demand from these markets would spur food exports this year by 15% from the 907 billion baht earned in 2013.
The forecast came from the rise in the first 10 months to 851 billion baht, up 11.5% from the year before.
The agency attributed the improvement to the weak baht making Thai products more competitive in foreign markets.
Among the positive conditions this year were rising rice exports, up by 24% in the first 10 months, and a boost in chicken exports to Russia.
Next year, the NFI expects food exports to grow by 6.9%, fetching 1.08 trillion baht.
Boonpeang Suntiwattanatan, chairman of the food industries club at the Federation of Thai Industries, said Thailand now ranked as the world’s 15th biggest food exporter, with a 44% market share.
“In terms of ready-to-eat products, we have a 3.49% share and ranked 10th in the global market in the first eight months of the year.
“Last year, our ranking dropped to 14th, due largely to falling rice exports,” said Mr Boonpeang.