SONGKHLA, 09 July 2019 (NNT) – Durian is a very popular fruit in Thailand, and its export has become a major source of national income.
Durian production has interested many Chinese investors, with the third-largest durian processing factory in Thailand recently opened in a southern border province.
Durian has now become a very popular fruit among Chinese consumers, especially durian from southern border provinces known for a unique flavor.
Despite the high demand, only 5 percent of national durian harvest is exported to China.
Manguwang Food Company has realized the great potential of durian exports to the Chinese market, and has therefore made a significant investment, in cooperation with the Thai government which offers tax deductions and facilitation in opening the country’s third-largest durian processing factory.
With the new factory located in Songkhla province, the company buys fresh durian fruit from local farmers in southern border provinces and processes it using a freeze-dry process.
The product is then exported to provinces of China overland through Laos and Vietnam. The company is planning to include shipping by sea in the future. It is expected the company will purchase 12,000 tons of fresh durian fruit this year, and will increase the number to 20,000 tons in 2020, creating 1,200 new jobs for villagers.
Thepha District Chief, Sanong Chantarak said this week that the new durian factory will be very beneficial for local villagers and help increase local employment, as well as attracting other businesses to invest more in southern border provinces.
Why Foreign Firms Struggle to Break Into China
In 2017, an analysis by Goldman Sachs found that while S&P 500 companies earned 30 percent of their revenues outside of the United States, China accounted for only 1 percent of their revenues.
How China is using tourists to realise its geopolitical goals
Over the last two decades, the number of Chinese overseas travellers rose by over 25 times from 5.3 million in 1997 to 130 million in 2017, contributing an estimated US$250 billion to overseas economies
How China’s role in global finance has changed radically
Within the space of just 15 years, China has gone from being the largest net lender to the world to now being a net borrower. The implications for the global economy, and China’s role within that economy, could be significant.
‘If you owe the bank $1 million, you have a problem. But if you owe the bank $1 trillion, then the bank has a problem’. It’s an old gag, but it underscores an important point: the size of your borrowing or lending can have profound implications for your role in the world.(more…)
Thailand among top five countries for salary hikes
Thailand is among the top five economies in the world to see real salary increases and is likely to see...
Thailand Ecommerce Market: Shooting For Success
At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce...
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing...