Thailand reaping food export windfall with protectionism rising

Poultry is Thailand’s biggest food export earner after rice, and the Malaysian ban is expected to be a boon for the country. - AFP

BANGKOK (Bloomberg): Thailand -- a major exporter of sugar, chickens and rice -- looks set to benefit as many of its Asian neighboUrs limit shipments of agricultural commodities to shelter consumers from surging prices.

In recent days, Malaysia has banned poultry exports and India has taken steps to keep more of its sugar at home. The rising food protectionism and price rallies are welcome news for Thai producers that are enjoying strong harvests this year after back-to-back droughts. The baht’s decline to a five-year low earlier this month is also making the country’s shipments relatively cheaper.