Thai food industry is to see huge opportunities in Chinese market and supposed to adjust the mode of business operation to feed demand of Chinese consumers, said a Thai expert at a forum for development of small- and medium-sized enterprises on March 29.
Chinese and Thai people share a lot living and food habits in common, and food industries of the two countries strongly complement to each other.
Leading food processing industries in Thailand, such as seafood processing, health food, Moslem food, flavorings, and snacks, is supposed to add elements adored by Chinese consumers in their products and cater to consumption habits of Chinese customers via Internet marketing and bulk supply, said an official with the SMEs economy and trade development committee of Thailand.
The official also noted that the strict supervision and administration over food safety is also a reason for the popularity of Thai food among Chinese consumers, which would be maintained as always.
Meanwhile, he suggested Thai food enterprises seeking cooperation with Chinese partners for easier exports of Thai food to China.
A senior manager with Thailand SMEs development bank, suggested greater research and development investment in Thai food industry and higher added value of products, and creating a new profit mode that integrates high value-added food industry and tourism industry.
The Chinese Consumers Confidence Index saw an apparent rise in 2016 with increasing consumption.
During the year, there were 8.87 million Chinese people visiting Thailand, and the figure is expected to hit 10 million.
The increase in Chinese tourists would create greater profit for Thai food industry, said a professor of Dhurakij Pundit University.
Food industry is a key driver for economic growth in Thailand. According to statistics of the Ministry of Commerce of Thailand, export value of Thai food industry is likely to rise 4 percent on year to hit 27.4 billion U.S. dollars in 2017.
Output of Thai food industry would exceed 28 million tonnes in 2017.
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