Thai SMEs urged to target Myanmar as exports jump

Small and medium-sized food processing businesses in Thailand have been urged to target Myanmar following a sharp rise in exports, Bangkok daily the Nation reported.

The National Food Institute of the Ministry of Industry said food exports to Myanmar rose by 24 percent last year, making it the fourth largest importer of Thai food after Japan, the United States and China.

The institute’s president, Yongvut Saovapruk, said Myanmar accounted for four percent of Thailand’s total food exports, that were valued last year at THB900 billion (about US$25.2 billion), the Nation reported on February 15.

Myanmar is the leading export market for Thai food in the 10-member Association of Southeast Asian Nations, at 17 percent, the report said.

Mr Yongvut said Thai food processing SMEs should consider the potential for growth in the Myanmar market.

Support more independent journalism like this. Sign up to be a Frontier member.

“Euromonitor predicted that the average growth of the market for processing foods in Myanmar between 2014 and 2018 will be about 15 per cent per annum,” he said.

“However, the market growth of non-alcohol beverages in Myanmar is as high as 23 per cent per year over the period.”

Mr Yongvut and a delegation of Thai food SMEs were in Yangon last month to attend the Myanmar International Franchise and SME expo.

Share on facebook
Share on twitter
Share on email

More stories

Latest Issue

Stories in this issue
Myanmar enters 2021 with more friends than foes
The early delivery of vaccines is one of the many boons of the country’s geopolitics, but to really take advantage, Myanmar must bury the legacy of its isolationist past.
Will the Kayin BGF go quietly?
The Kayin State Border Guard Force has come under intense pressure from the Tatmadaw over its extensive, controversial business interests and there’s concern the ultimatum could trigger fresh hostilities in one of the country’s most war-torn areas.

Stay on top of Myanmar current affairs with our Daily Briefing and Media Monitor newsletters

Our fortnightly magazine is available in print, digital, or a combination beginning at $80 a year

Sign up for our Frontier Fridays newsletter. It’s a free weekly round-up featuring the most important events shaping Myanmar