Thailand to take advantage of food exports over Asian protectionism

Thailand, a major exporter of sugar, chickens, and rice, looks set to benefit as many of its Asian neighbors limit shipments of agricultural commodities to shelter consumers from surging prices...

Thailand, a major exporter of sugar, chickens, and rice, looks set to benefit as many of its Asian neighbors limit shipments of agricultural commodities to shelter consumers from surging prices.

• In recent days, Malaysia has banned poultry exports, and India has taken steps to keep more of its sugar at home.

The rising food protectionism and price rallies are welcome news for Thai producers enjoying strong harvests this year after back-to-back droughts.

• The baht’s decline to a five-year low earlier this month also makes the country’s shipments relatively cheaper.

Global food prices have surged to multi-year highs as the economic recovery from the pandemic coincided with Russia’s invasion of Ukraine, which has upended flows of agricultural commodities.

Thai food exports this year now look likely to surpass a forecast in January for a record 1.2 trillion baht ($35 billion) made by the Bangkok-based National Food Institute.