Thai food companies advised to target booming Myanmar

By RJ Whitehead

- Last updated on GMT

Thai food companies advised to target booming Myanmar

Related tags: Export, Import, Southeast asia

Thailand’s industry ministry has advised small- and medium-sized food manufacturers to target Myanmar, which has ben witnessing a significant rise in imports from its eastern neighbour.

The ministry’s National Food Institute found that Thai exports to Myanmar had increased by almost one-quarter in 2015, making it the country’s fourth biggest food market after Japan, America and China.

Yongvut Saovapruk, president of the institute, said that Myanmar, whose economy is forecast to grow by 8% this year, represented 4% of Thailand's total food exports in 2015 with a value of THB900bn (US$25.3bn).

He said that consumers there were particularly keen on Thai food traits, such as noodle-based foods with salty tastes, and had a preference for fried food over boiled food. They did not, however, appreciate coconut milk being used in recipes.

Receiving 17% of Thailand’s THB231bn (US$6.5bn) food shipments to Asean, Myanmar is the country’s leading regional importer, and offers significant potential for processed foods and beverage exporters, Yongvut said.

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

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

Related topics: Markets, South East Asia, Supply chain

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