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A shop selling rice in Bangkok, Thailand. (Photo: AFP/VNA) Bangkok (VNA) -  The Federation of Thai Industries (FTI) has projected that Thai food exporters are likely to benefit from a global food shortage expected to intensify during the third and fourth quarters this year. According to Kriengkrai Thiennukul , chairman of the FTI, many countries might experience food shortages because such nations as India, Serbia, Kazakhstan, Kosovo and Egypt have restricted their exports, including wheat. A shortage of fertiliser and animal feed amid the ongoing Russia-Ukraine war resulted in lower crop yields, making stockpiling of food appear to be unavoidable. The FTI believed that the Thai food industry will benefit from this situation as purchase orders increase amid growing worries over the shortages. Thai food factories have prepared raw materials for food processing in order to meet increasing demand in the global food market, the chairman said. The federation said it is … [Read more...] about Thai food exports expected to grow well

Seafood exporters in Vietnam may find the second half of 2022 a challenging period compared to the first due to slowing global economic growth, despite a successful first half of the year, according to a conference held by the Vietnam Association of Seafood Exporters and Producers. Exports of seafood in the first five months of the year rose by around 42%, but they are expected to slow down for the second half of 2022. (Photo: VNA) Since the start of 2022, seafood businesses have been focusing on recovering their production, increasing exports and networking with partners after the COVID-stricken year of 2021. Exports of seafood in the first five months of the year reached 4.7 billion USD, a 42% increase year-on-year. During the conference held in HCM City on June 22, Truong Dinh Hoe, general secretary of the association, said that export prices grew by up to 15%, and markets grew around the world. The association has been focusing on helping … [Read more...] about Seafood exporters face challenging second half of 2022: conference

Shipping containers are loaded onto an international freighter at the Bangkok Port.(Photo bangkokpost.com) Bangkok - The weaker baht is expected to boost the Thai economy and increase real GDP of the country by 0.4 percent, but not all manufacturers will reap the benefits, according to the Industry Ministry of Thailand. The ministry said that industries such as steel, medicine and oil, which depend greatly on the import of raw materials and have few exports, will bear the brunt of the baht depreciation. Manufacturers will experience varying outcomes as the value of the baht decreases, but overall the Thai economy will benefit, said Industry Minister Suriya Jungrungreangkit. The baht fell to 34.46 against the US dollar on June 7, down from 33.38 baht on December 30 last year. Director-General of the Office of Industrial Economics (OIE) Thongchai Chawalitpichaet said if the value of the baht weakens by 5 percent, real GDP will grow by 0.4 percent. The real GDP is a measure … [Read more...] about Thailand: weaker baht helps exports

Illustrative image (Photo: AP) Vientiane (VNA) – The Lao government is focusing on implementing an array of hydropower projects nationwide to increase its electricity exports to regional countries, including Vietnam and Cambodia. Laos has signed contracts with Vietnam Electricity (EVN) covering 25 projects with a combined capacity of 2,180 MW, of which Sekaman 1, Sekamansanse and Sekaman 3 already have a total capacity of 572 MW. With an accumulative capacity of 1,608 MW, the remainders are scheduled to be put into operation and supply electricity for Vietnam from 2022-2025. The two countries have also reached memoranda of understanding on other projects, helping to push total electricity output expected to be exported from Laos to Vietnam to 8,148 MW by 2030. Apart from Vietnam , Laos has also exported electricity to Cambodia , with a volume of 445 MW, which is scheduled to reach 6,000 MW by 2030. Thailand, China and Singapore have also imported power … [Read more...] about Laos boosts electricity exports to Vietnam, Cambodia

At the conference Speaking at a seminar to discuss solutions to boost Vietnam's fish sauce exports this afternoon in Hanoi, the Vietnam Association of Fish Sauce in collaboration with the Vietnam Cuisine Culture Association (VCCA) and Agrotrade under the Ministry of Agriculture and Rural Development held a seminar on ‘Promoting export exporting fish sauce - orientation and solutions’. According to the Vietnam Association of Fish Sauce, exporting fish sauce is the goal of manufacturers and traders in this industry globally. Vietnam is a country favored by nature and has a long experience in fish sauce production. According to the Agrotrade, the country currently has more than 4,200 fish sauce production facilities with an average output of nearly 380 million liters in 2020. In recent years, not only serving domestic consumption needs, Vietnam's fish sauce products are also promoting the application of science and technology and strict standards for ensuring safety and hygiene … [Read more...] about Vietnam oriented toward fish sauce export

Processing Tra fish (Photo: VNA) HCM City (VNA) – Seafood shipments overseas have risen in the first half of 2022, and experts say Tra fish exports can increase the market share in the EU, while that of shrimp has a lot of room for growth in Canada. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), as of May, the value of frozen Tra fish exports to the EU this year reached 76.8 million USD, up 95% year-on-year. This means the market has bounced back after a two-year downturn due to the COVID-19 pandemic. The Netherlands remains the biggest market in the EU for the Vietnamese products, while positive signals are coming from the shipment of frozen Tra fish to Germany, Spain, and Belgium. In addition to the bloc, Vietnamese Tra fish exporters have also stepped up their activities in Mexico, Egypt and Thailand. As of mid-May, Vietnam exports shipped to Mexico are at 45.6 million USD, up 70% year-on-year. VASEP said the Mexican market … [Read more...] about Seafood export takes larger bite out of foreign markets