Fresh and processed fruit exports are projected to reach 312 billion baht this year.

The Commerce Ministry is working with international fruit importers, exploring the futures market and gearing up to launch an extra 35 initiatives aimed at promoting Thai agricultural products to ensure price stability across all seasons.

Speaking after presiding at the launch on Wednesday of a business-matching project for fresh and processed fruit and other agricultural products to offset potential trade barriers, Commerce Minister Phumtham Wechayachai said the project is part of efforts to locate markets for Thai farm products, inviting major exporters and importers from 19 countries to engage in early trading of Thai fruit before the harvest season.

The event was held in Bangkok at Centara Grand at Central Plaza Ladprao.

Mr Phumtham said there is often a surplus of crops that exceeds demand.

"Producing a surplus of fruit is not inherently bad, the issue lies with management. We must effectively manage agricultural production for the benefit of the nation, producers and consumers, both within Thailand and abroad," he said.

"This initiative has attracted significant interest from foreign businesses and Thai exporters, with collaboration from various government agencies, including the Commerce Ministry, the International Trade Promotion Department, provincial commerce offices, commercial counsellors in overseas offices, farmers and exporters. It has resulted in up to five trade agreements, worth more than 2 billion baht."

Mr Phumtham said the convergence between digital content products and agricultural products aims to increase their value and expand their markets.

The future focus will be on incorporating digital content into processed agricultural products, with the goal of reducing the burden, providing convenience and creating opportunities for entrepreneurs, which were all emphasised by Prime Minister Srettha Thavisin, said Mr Phumtham.

The premier is committed to amending laws that hinder doing business, as the private sector is at the forefront of generating income for the country, he said.

Large enterprises will be encouraged to work with smaller businesses to help them, said Mr Phumtham.

Thai businesses need to follow new global trade regulations, promoting sustainability and rules of origin for products, he said.

"The International Trade Promotion Department plans to expedite activities to boost the export of fresh and processed fruit and other agricultural items, totalling more than 35 projects domestically and internationally," said Mr Phumtham.

"This is to maintain and strengthen existing markets, expand new markets for Thai entrepreneurs and create more opportunities for increased and fair product sales."

In 2023, the value of fresh and processed fruit exports tallied 300 billion baht. This year the vallue is projected to reach 312 billion baht, a 4% increase from last year.