Thai agriculture to take 16% GDP share

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Thailand’s agribusiness firms have vowed to raise the sectors contribution to GDP from 10 per cent to 16 per cent by 2016. This gathering of support around the agriculture sector is in line with the country’s national plan for target outputs.

Pornsil Patcharintanakul, Vice Chairman of the Thai Chamber of Commerce, was quoted in the Bangkok Post as saying that initiatives made to increase food production and better quality standards would aid efforts in reaching the long-term growth goals.

In raising standards, Thailand also hopes to increase their potential market reach for exports by meeting global standards. Qatar recently dropped a ban on poultry exported from Thailand, largely seen as a trend the current government wishes to continue supporting through drummed up funding of the industry.

In similar news, the rice segment in Thailand has been viewed as needing extreme overhaul. Modern technology is still widely absent throughout the country’s agricultural industry and analysts predict that avoiding investment into productivity-boosting initiatives could pile up debts in the long term.

More technology in the industry would also improve sustainable incomes for farmers and encourage workers not to move outside the sectors, experts say.

Rice, the staple of Asian diets, is also expected to see a drop in demand over the next demand as the rising middle class moves toward more protein-based meals.

 

 

 

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Reading Time: 1 minute

Thailand’s agribusiness firms have vowed to raise the sectors contribution to GDP from 10 per cent to 16 per cent by 2016. This gathering of support around the agriculture sector is in line with the country’s national plan for target outputs.

Reading Time: 1 minute

Thailand’s agribusiness firms have vowed to raise the sectors contribution to GDP from 10 per cent to 16 per cent by 2016. This gathering of support around the agriculture sector is in line with the country’s national plan for target outputs.

Pornsil Patcharintanakul, Vice Chairman of the Thai Chamber of Commerce, was quoted in the Bangkok Post as saying that initiatives made to increase food production and better quality standards would aid efforts in reaching the long-term growth goals.

In raising standards, Thailand also hopes to increase their potential market reach for exports by meeting global standards. Qatar recently dropped a ban on poultry exported from Thailand, largely seen as a trend the current government wishes to continue supporting through drummed up funding of the industry.

In similar news, the rice segment in Thailand has been viewed as needing extreme overhaul. Modern technology is still widely absent throughout the country’s agricultural industry and analysts predict that avoiding investment into productivity-boosting initiatives could pile up debts in the long term.

More technology in the industry would also improve sustainable incomes for farmers and encourage workers not to move outside the sectors, experts say.

Rice, the staple of Asian diets, is also expected to see a drop in demand over the next demand as the rising middle class moves toward more protein-based meals.

 

 

 

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