The private sector is set to propel Thailand towards becoming a global food hub by 2026, with the value of the nation's food trade expected to surpass 700 billion baht next year.
According to Taniwan Koonmongkon, president of the Thai Restaurant Association, the value of food trade in Thailand is projected to reach 690 billion baht this year, with an anticipated growth rate of 5%, potentially exceeding 700 billion baht next year if no significant external risks emerge.
In a move aimed at promoting gastronomy tourism as a significant driver of national revenue and a key aspect of Thailand's soft power, Mrs Taniwan said her association has collaborated with the Tourism Authority of Thailand (TAT), Phenix Food Wholesale Hub, the Thai Chamber of Commerce, the Federation of Thai Industries, the Thai Health Promotion Foundation Office, and other partners to organise the Thailand Food Travel Mart 2024 (TFTM 2024).
Taniwan: Seabass orders seen growing post-event
TFTM 2024 gets underway on Friday at the Phenix Shopping Centre. The event continues through Sunday.
TAT governor Thapanee Kiatphaibool said gastronomy tourism and food soft power represent Thailand's culinary tourism efforts, aimed at attracting travellers from other countries. By 2025, the country aims to welcome 39 million tourists, with Thai cuisine playing a significant role in increasing tourism revenue to 3.4 trillion baht, she said.
According to Ms Thapanee, TFTM 2024 will foster collaboration between the tourism industry and Thailand's food industries to elevate their global presence. Throughout the event, various activities will be featured, including opportunities for the public to purchase food at discounted prices.
In a separate development, Mrs Taniwan noted that the Thai Restaurant Association and Thai Chamber of Commerce have recently been working to improve the image of Thai seabass, which has experienced persistently low prices since 2019, reducing the value of the market by over 50% from 6 billion baht per year previously to just 3 billion baht per year at present.
They are highlighting fish production under good aquaculture practices in an effort to improve domestic competitiveness.
This initiative, supported by the Thai Chamber of Commerce, aims to enhance the competitiveness of the country's seabass market.
The country's seabass industry has faced challenges since 2019 when Malaysia shifted its focus from farming white shrimp to seabass. As a result, Malaysia began exporting seabass to Thailand under the Asean Free Trade Agreement with a 0% tariff. The fact that Malaysian farmers' production costs are lower than their Thai counterparts significantly impacted Thai seabass farmers.
The Thai Chamber of Commerce, Thai Restaurant Association, and Thai Marine Finfish Farmers Association are now working to promote the consumption of safe, fresh, clean and odour-free seabass within Thailand. It is expected that after TFTM 2024, there will be a significant increase in orders, which will help generate revenue for fish farmers and add value to the restaurant industry, Mrs Taniwan said.