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China woes helping Thai food exports
Thai food producers are likely to receive a windfall from exports to the United States, the European Union, Canada and Japan, which have all imposed stringent measures against Chinese food, local industry executives say.
Vilai Kiatsrichart, president of the Thai Food Processors Association, said food orders this month had been rising after Chinese products came under suspicion for sanitary and safety violations. "Although Thai exports have lost competitiveness from the strong baht, our quality standards give us a stronger edge," she said. The improving situation should ensure Thailand's food exports fetch 140 billion baht in export revenue this year, a 10% to 12% increase over the previous year. Even so, the baht _ which has appreciated by 6% since the start of the year _ has hit export earnings, Mrs Vilai said. By Rajesh Kumar, Section Business Posted on Sun Aug 19, 2007 at 09:54:56 PM EST
To offset the losses, she said, Thai food producers should pay more attention to innovation and technology to manufacture higher-value products.
Poj Aramwattananont, president of the Thai Frozen Foods Association, said shrimp exporters believed US consumption would drop by about 10% this year due to the economic slowdown. "Although a weaker baht is the best, a stable baht could raise shipments to serve the coming festive season later this year," he said. Some exporters have shifted their focus to Japan, hoping the new Thailand-Japan free trade agreement that takes effect on Oct 1 would boost shrimp exports. The deal eliminates import tariffs on frozen and processed shrimp. The agreement could increase fresh and processed shrimp exports by 5% to 10% over last year, Mr Poj added. Last year, Thailand's exports of fresh and processed shrimp reached 305,807 tonnes worth US$1.99 billion, or about 76 billion baht. The US market controlled 177,717 tonnes worth $1.19 billion, or 45.43 billion baht. Export volume to Japan was 47,177 tonnes worth 13.41 billion baht, while 14,865 tonnes worth 3.95 billion baht were shipped to the EU.
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