Thailand's poultry exports to China likely to grow over 265% in 2019

BANGKOK, July 10 (TNA) - The Kasikorn Research Center (KResearch) has projected that Thailand's poultry exports to China should expand by over 265 per cent year-on-year in 2019, as local consumers are looking for food substitions amid ongoing outbreaks of the African Swine Fever (ASF) in the immense economy. The Bangkok-based research firm said in a latest report, released on July 10 that, Thai exporters of livestock products should now have more opportunities to ship their products to China, especially chicken, due to the ASF outbreaks. The leading Thai private think tank, thus, forecast that the country's exports of chicken alone to China should reach 230-240 million US dollars in 2019, or a leapfrog growth of 265-280 per cent year-on-year. Besides, Thailand's chicken exports to Japan should keep expanding amid growing challenges, including competitions from such rival exporting country as Vietnam and the appreciation of the Thai baht. According to the KResearch, Thailand's total export of chicken to the world market in 2019, particularly processed chicken products, should reach about 3.5 billion US dollars, or an about 11.8 per cent year-on-year increase. The KResearch stated, however, that the prices of poultry products on the domestic market may increase due to the rising market demand, noting that the competitiveness of Thai exporters of poultry products should be a key factor to boost the country's poultry exports to China in the wake of the ongoing ASF outbreaks. (TNA)