Thai farm products will see price improvement in next six months

Thai farm products will see improvement in prices within the next six months of this year, according to Mr Kobsak Pootrakool, the Minister attached to the Prime Minister’s Office.

Mr Kobsak attributed the uptrend of Thai agricultural products to many positive factors such as sustained growths for exports and tourism, government investments in major national projects and the recovering global economy.

He said prices of Thai farm products have stagnated for some time but they will begin to see improvements within the next 6 months.

These will include prices for rice, sugarcane and tapioca providing farmers with improved purchasing power that will contribute to a 4 to 4.5% GDP growth.

Meanwhile the Ministry of Commerce revealed that exports for March peaked to a historic high of US$ 22.363 billion.

This represented a 7.06% increase, he said, and consequently this has helped first quarter exports to increase by 11.29%, exceeding US$ 62.8 billion, a historic 7 year peak.

The MOC attributed the sustained global economic recovery especially for industrial products to the rise and confidently estimates that national exports for the entire year will meet the 8% growth projected.

The remaining 2 quarters will be able to enjoy average monthly exports of no less than 21 billion USD which in itself is also a 7% expansion, it added.