Thailand aiding global food security with rising food exports
Thailand’s prowess as a food producer is proving invaluable as the Kingdom’s exports are providing a bulwark against rising global food insecurity resulting from armed conflicts, protectionism and supply chains disrupted by the global pandemic.
Branding itself as “the Kitchen of the World,” Thailand is a major provider of rice, sugar, chicken and other essential foodstuffs to foreign markets. The Kingdom is the only net food exporter in Asia and has the ability to maintain and even increase overseas shipments without causing shortages at home.
The Kingdom has kept its trade and commerce flowing. The Kingdom’s steadfast food shipments have been benefitting Thailand’s trading partners and the people. More than 11 million Thais, or 38 percent of the population, work in agriculture and millions more are employed in food processing and agro-industries.
The United Nations has said that global food prices are near record highs because of broken supply chains. Along with more expensive energy prices, the higher cost of food is a major factor in worldwide inflation.
As Thailand’s food exports have been rising, global food prices were falling slightly back in April, according to the United Nations.
On a macro level, Thailand’s food exports are providing a lifeline to its economy as the Kingdom’s tourism industry, which is another essential sector and provider of jobs, was adversely affected from a decrease in travel related to the pandemic.