Thailand’s fruit exports projected to increase by 4% in 2024

Picture courtesy of Bangkok Post

Expectation for a 4% increase in the volume of fresh and processed fruit exports this year has been projected by the Commerce Ministry, driven by a strong demand. Commerce Minister Phumtham Wechayachai, after a meeting with ministry officials and fruit-related representatives, expressed optimism about fruit exports.

The ministry predicts a 4% increase in both volume and value of fresh and processed fruit shipments, with an anticipated total of 4.19 million tonnes worth 300 billion baht (US$ 8,703,855,000).

Forecasts for fresh fruit exports alone indicate a 4% volume increase to 2.1 million tonnes and an expected 5% increase in value to 175 billion baht (US$ 5,077,248,750). Notably, China is the principal market, accepting 75% of total exports, followed by the US, Malaysia, and Hong Kong.

Data from the ministry reveals that in the first 11 months of the previous year, Thailand exported fresh and processed fruit worth 284 billion baht (US$8,239,649,400). Fresh fruit accounted for 178 billion baht (US$5,164,287,300), which was a 27% increase from the previous year, while frozen and dried fruit totalled 50.1 billion baht (US$1,453,543,785), a 25.2% increase. However, processed fruit exports decreased by 10.4%, reaching 56.3 billion baht (US$1,633,233,217), reported Bangkok Post.

Related news

To reach the set target, the ministry plans to encourage production and processing by fast-tracking the certification of 120,000 GAP-certified farms and promoting the processing of durian, longan, and mango, with a target of 320,000 tonnes, said Wattanasak Sur-iam, the Director-General of the Internal Trade Department.

The ministry has also put forward seven plans to promote domestic market strategies. These include developing contracts for 100,000 tonnes of fruits and distributing 90,000 tonnes outside of production sources. The government is providing a management cost subsidy of 3 baht per kilogramme to participating buyers.

The ministry is also focused on improving the efficiency of fruit management in line with international trade standards for 150,000 tonnes, running fruit consumption campaigns, supporting postal services (300,000 boxes) with 3,000 tonnes sent by Thailand Post for free, offering free loading of 20 kilogrammes of fruit on selected airlines (Air Asia, Nok Air and Thai Lion Air), and boosting the liquidity for fruit management with loans of 3.34 billion baht (US$96,867,748), offering a 3% annual interest subsidy to entrepreneurs purchasing fruit for up to six months.

Six plans are also underway to promote foreign market strategies. These include cross-border trade events in three regions to distribute Thai fruits to neighbouring countries, onsite and online business matching initiatives, trade promotion activities and participation in international exhibitions, promoting seasonal fruit menus through Thai Select restaurants worldwide, creating desserts from seasonal fruits, and supporting trade representatives visiting foreign agricultural trade shows.

Wattanasak further remarked that to enhance trade efficiency, special task forces led by the private sector will be established to promote and drive fruit exports, while the ministry is set to advocate for trade benefits from the existing free trade agreements to boost exports, publicise Thai fruits in China and potential markets, negotiate trade measures to reduce taxes and trade barriers and provide marketing skills training for domestic and export trade.

Business News

Alex Morgan

Alex is a 42-year-old former corporate executive and business consultant with a degree in business administration. Boasting over 15 years of experience working in various industries, including technology, finance, and marketing, Alex has acquired in-depth knowledge about business strategies, management principles, and market trends. In recent years, Alex has transitioned into writing business articles and providing expert commentary on business-related issues. Fluent in English and proficient in data analysis, Alex strives to deliver well-researched and insightful content to readers, combining practical experience with a keen analytical eye to offer valuable perspectives on the ever-evolving business landscape.

Related Articles