Thailand’s pork exports expected to increase in 2017
Thai pork exports are projected to increase this year thanks to low pork prices in the country, Boonpeng Santiwattanatam, President of Swine Producers and Processors for Exporting Association told Asian Agribiz. “When domestic pork prices stay low, pork producers will step up exports,” he said. Pork prices have been on a downward trajectory in Thailand due partly to oversupply.
Meanwhile, Japan, Hong Kong and Singapore are the three main markets for Thai pork exports. “While our pork exports to Hong Kong will remain stable this year, we see growth potential in Singapore,” he said. However, Singapore has strict regulations on pork imports and only one or two Thai companies have been allowed to export cooked and fresh pork to the island republic. In Japan, the association aims for 10% annual sales growth for cooked pork but pork exports dropped around 10% in the past month due partly to Japan’s slow economy, he said.