Thailand expects to stimulate food export growth of 2% this year as it prepares for THAIFEX-Anuga Asia 2024, Asia's leading food and beverage trade show.
Phusit Ratanakul Sereroengrit, director-general of the Department of International Trade Promotion (DITP), said the food industry is one of the most important sectors contributing to exports.
Food exports expanded by 2.7% in 2023 from the previous year, worth US$39.8 billion or roughly 1.37 trillion baht.
In 2024, it is expected that food exports will increase by around 2%, worth $40.6 billion or more than 1.4 trillion baht.
This growth is supported by the recovery of developing and emerging economies and the tourism and service sectors, as well as the depreciation of the baht, which is beneficial to the export sector.
In addition, the El Niño phenomenon has reduced agricultural production, leading to increased demand for food.
Meanwhile, the Commerce Ministry has been busy organising THAIFEX-Anuga Asia 2024.
Presented under the theme "Beyond Food Experience", the event was jointly organised by the DITP, the Thai Chamber of Commerce and Koelnmesse Germany.
The trade show is the largest and most comprehensive food and beverage event of its kind in Asia, which provides a platform for food and beverage businesses, retailers, supermarkets, department stores, hotels, hypermarkets, restaurants and those seeking to find partners and negotiate business deals to connect with leading Thai and international companies.
This event not only emphasises Thailand's potential as a leader in producing and exporting high-quality food on a global scale, following the Thai Kitchen to the World policy of the Ministry of Commerce, but also gathers food industry entrepreneurs from around the world who conduct business according to international standards, focusing on sustainability and complying with labour standards, production standards and food safety standards to meet the needs of consumers worldwide.
The trade show will showcase over over 3,000 exhibitors from more than 50 countries and regions, occupying over 6,000 booths.
With the event expected to draw 80,000 visitors, it will provide participants with valuable insights, such as current food trends, consumer demand and market developments. The estimated value of orders placed this year will exceed 100 billion baht.
THAIFEX-Anuga Asia 2024 is scheduled to take place from May 28 to June 1 at Impact Muang Thong Thani.