United Kingdom · Bangkok Post
Offering security in fraught times
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Global uncertainty from geopolitical tensions, rising energy costs and potential disruptions to critical infrastructure could create opportunities for Thailand's agriculture and food industries as countries seek to strengthen food security and build up emergency reserves.
Key facts
- Around 70% of output in these sectors is consumed domestically, with 30% exported.
- Global uncertainty from geopolitical tensions, rising energy costs and potential disruptions to critical infrastructure could create opportunities for Thailand's agriculture and food industries as countries seek to strengthen food security
- However, industry leaders warn that higher demand may not translate into immediate gains as rising production and logistics costs, tight liquidity and existing inventories continue to weigh on business prospects.
- TU targets consistent annual revenue growth of 4-6%, with a longer-term revenue goal of 140 billion baht.
- However, rising oil prices and shipping costs remain a challenge, particularly as 50-60% of its products are manufactured and exported from Thailand
- To limit the impact, the company is tightening demand and supply forecasting, aiming to keep errors within 2-5%, with a preferred range of 2-3%
Summary
However, industry leaders warn that higher demand may not translate into immediate gains as rising production and logistics costs, tight liquidity and existing inventories continue to weigh on business prospects.
Visit Limlurcha, vice-chairman of the Thai Chamber of Commerce, said Thailand holds a strong competitive edge in agriculture and food production, earning its reputation as the "Kitchen of the World". Around 70% of output in these sectors is consumed domestically, with 30% exported.