# Thailand’s Food Trade Set to Exceed 700 Billion THB (20 billion USD) Next Year

- Link: https://www.thailand-business-news.com/markets/commodities/177089-thailands-food-trade-set-to-exceed-700-billion-thb-20-billion-usd-next-year
- Published: 2024-11-24T11:40:00+07:00
- Author: Arun Upadhyaya

**Thailand aspires to establish itself as a global food hub by 2026, targeting food
trade revenues exceeding 700 billion THB, driven by the growth of gastronomy tourism
and strategic collaborations with diverse organizations.**

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## Key Points

 * The private sector is driving Thailand’s ambition to become a global food hub
   by 2026, with food trade expected to exceed 700 billion THB (20 billion USD) 
   in 2025, having reached 690 billion THB in 2024.
 * Taniwan Koonmongkon, President of the Thai Restaurant Association, forecasts 
   a 5% growth rate, contingent on stable external conditions, and highlights collaboration
   with various organizations to promote gastronomic tourism.
 * The Thailand Food Travel Mart 2024 aims to enhance Thailand’s culinary tourism,
   targeting 39 million tourists by 2025, and anticipates a rise in tourism revenue
   to 3.4 trillion THB, showcasing the significance of Thai cuisine.

Thailand is positioning itself to become a global food hub, with expectations that
its food trade will exceed 700 billion THB (approximately 20 billion USD) by 2026.
As per current projections, the value of food trade is anticipated to reach 690 
billion THB by the end of this year, demonstrating a growth rate of around 5%. This
trajectory could see the food trade surpass the 700 billion THB mark as early as
2025, provided there are no significant external disruptions.

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Central to this ambitious growth is the collaborative effort of various stakeholders
within the private sector. Taniwan Koonmongkon, the President of the Thai Restaurant
Association, is actively involved in initiatives that intertwine gastronomy tourism
with broader economic strategies. The association, working alongside the Tourism
Authority of Thailand (TAT), the Phenix Food Wholesale Hub, and other significant
entities, is spearheading the organization of the Thailand Food Travel Mart 2024(
TFTM 2024). This event is designed to highlight the country’s rich culinary offerings
and their potential to enhance Thailand’s attractiveness to international tourists.

## 39 million tourists?

The TAT Governor, Thapanee Kiatphaibool, emphasized that gastronomy tourism serves
as a vital component of Thailand’s soft power, aimed at luring foreign travelers.
By 2025, Thailand seeks to welcome 39 million tourists, with Thai cuisine playing
an instrumental role in boosting tourism revenue to a projected 3.4 trillion THB.
The TFTM 2024 event will foster synergies between the tourism and food industries,
enhancing their competitive edge in the global market and reinforcing Thailand’s
reputation as a premier culinary destination. Through these efforts, Thailand is
not only looking to solidify its food trade but also to leverage its culinary heritage
as a significant contributor to national revenue.