Thailand’s agriculture sector should record growth between 1.8% and 2.8% next year, helped by factors such as secure water resources, an improving economy and higher demand for farm products in the global market, according to the Office of Agricultural Economics.
The upbeat forecast stands in contrast to this year, when drought in the early months and heavy floods in the last quarter shaved 1.1% off growth, along with higher costs of production and geopolitical conflicts, said Chantanon Wannakejohn, secretary-general of the Office.
Growth in 2024 fell 1.7% in the cropping sector, 2.8% in the fishery sector, and 0.5% in the agricultural services sector, but livestock gained 3.2% and forestry was up 2.2% from the year before.
Every region experienced weakening overall growth, except the Northeast where expansion of 1.7% was reported. A decline of 1% was reported in the North, 1.2% in the central region, 2.3% in the South, 3.6% in the East and 4.8% in the Deep South.
“We expect to see an improving situation next year from government economic policy and higher demand in the global market,” said Mr Chantanon. “We hope to see growth of 1.8% to 2.8%, in which the crop sector will play a key role in making the economy healthier.”