London Olympics to give Thai food exports a boost

[Mod]

London Olympics to give Thai food exports a boost

The Nation 2012-05-28

BANGKOK: -- Thailand is confident of exporting more than US$1.2 billion (Bt38 billion) worth of foods to the United Kingdom this year, as the Summer Olympic Games in London boost demand and economic growth despite the financial problems in Europe.

"Although the financial crunch in the European Union has had an impact on Thailand's exports, demand for Thai products in the UK market, particularly foods, has not been affected, as Britons have good consumer sentiment [based on] the upcoming Olympic Games," said Chulit Stavorn, executive director of the Thai Trade Centre in London.

The United Kingdom is the largest market for Thai exports in the EU. Although last year shipments to the Netherlands exceeded those to the UK, it was because of higher fuel exports from Thailand.

Chulit said export of Thai foods to the UK had increased gradually each year from $675 million in 2007 to $938 million in 2010.

Last year, exports of Thai food products to the UK was worth $1.1 billion. Major export products were processed chicken, worth $555 million, followed by canned seafoods, frozen shrimp, rice, noodles and processed foods, and fresh and canned fruits.

Chulit said the EU's cancellation of its import ban on fresh chicken from Thailand in July would also boost the Kingdom's poultry exports to the UK and EU markets. He expects that Thai chicken exports to the UK should increase by $400 million this year.

In addition, Chulit expects that the plan of CP Foods, Thailand's leading food producer, to take over Birds Eye, a giant British fish-finger producer, will increase trading opportunity for Thai products in the UK market if the bid is successful.

The deal is not yet finalised, as more than three firms are interested in taking over Birds Eye. However, it was reported in British newspapers that CPF had offered a bid