BANGKOK (NNT) – The Ministry of Commerce is pushing to enhance partnerships between key Thai conglomerates and government bodies to bolster the agricultural sector, aiming for a revenue target of 1 trillion baht this year. The effort focuses on increasing the purchase of primary economic and secondary crops.
Commerce Minister Phumtham Wechayachai highlighted agriculture’s crucial role in Thailand’s economy, noting it employs about 27 million people or 40% of the workforce. The sector, which includes staples like rice, rubber, and various fruits, contributes 1.32 trillion baht, representing 9% of the country’s GDP.
Despite its importance, the agricultural sector is grappling with issues such as variable income, production difficulties, and quality control concerns. To address these challenges, the ministry has introduced measures aimed at stabilizing prices and managing surplus produce. The strategy involves large corporations, such as PTT and Charoen Pokphand Foods, purchasing crops as part of their corporate social responsibility (CSR) initiatives.
These governmental efforts have led to a 23% increase in the economic value of agricultural products compared to the previous year, boosting farmers’ incomes by nearly 200 billion baht and achieving a revenue increase of 1.05 trillion baht. Additionally, the ministry is working to mitigate the excess supply of fruits and vegetables by up to 321,579 tonnes to foster a more stable market for farmers.
Source: NNT
Ministry of Commerce Targets 1 Trillion Baht Growth in Agriculture Sector
