Sources: Available upon request
01 Oct 2024
Recovering domestic market supports rising demand for Thai chicken
The Thai chicken industry is experiencing a notable resurgence, driven by a recovering domestic market and increasing demand.
The Thai chicken industry is experiencing a notable resurgence, driven by a recovering domestic market and increasing demand. This recovery is a significant development for Thailand, a country where poultry farming plays a crucial role in the agricultural sector and the broader economy.
Economic recovery and domestic demand
Thailand’s economic recovery, particularly in the tourism sector, has been a major catalyst for the rising demand for chicken. As the country reopens and tourist arrivals increase, the hospitality and food service industries are seeing a surge in activity. Restaurants, hotels, and street food vendors are ramping up their operations, leading to higher consumption of chicken products. This trend is expected to continue as the economy stabilizes and consumer confidence grows.
Production and export growth
The production of chicken meat in Thailand is projected to grow modestly, with estimates suggesting a 1% increase in 2024. This growth is aligned with the gradual rise in domestic consumption. Additionally, the export market for Thai chicken remains robust. Key trading partners such as Japan, the European Union, and the United Kingdom continue to show strong demand for Thai chicken products. The recent trade agreements and export certifications have further bolstered Thailand’s position in the global poultry market.
Challenges and opportunities
Despite the positive outlook, the Thai chicken industry faces several challenges. The cost of feed remains a significant concern, impacting profit margins for poultry farmers. However, the industry is also benefiting from technological advancements and improved farming practices, which are helping to mitigate some of these costs. Moreover, the focus on sustainability and animal welfare is becoming increasingly important, with consumers demanding higher standards in food production.
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Future prospects
Looking ahead, the Thai chicken industry is poised for continued growth. The domestic market is expected to remain a key driver, supported by a recovering economy and increasing consumer demand. On the export front, Thailand’s reputation for high-quality chicken products will likely sustain its competitive edge in the global market. The industry’s ability to adapt to changing market conditions and consumer preferences will be crucial in maintaining this upward trajectory.
In conclusion, the recovering domestic market is playing a pivotal role in supporting the rising demand for Thai chicken. As Thailand navigates its economic recovery, the poultry industry stands to benefit significantly, contributing to the country’s agricultural success and economic stability.
