- 18 MMT total feed production, up 7% YOY.
- Thai farmers shifting out of corn and opting instead for cassava.
- Gradual recovery in shrimp production seen after Early Mortality Syndrome outbreak.
- Flattening feed production growth outlook.
- Feed production breakdown: broiler = 40%, swine = 30%, layer = 20%.
- Population: 68.2 million
- Population growth: 0.32%
- Urban %: 60.4%
- Urban growth: 2.97%
- GDP: $1.108 trillion
- GDP growth: 2.8%
- GDP per capita: $16,100
- Less than 1% unemployment rate due to large portion in subsistence farming.
- Heavily export dependent economy, with exports accounting for 2/3 of GDP.
- Tepid economic growth following a recession after the military coup.
Trade and market Share Issues
- Marked improvement in DDGS exports due to high energy ingredient prices.
- Increased imports of feed wheat puts focus on mycotoxins in DDGS.
- Reliance on EU poultry exports gives buyers concern over antibiotic residue.
- Feed industry dominated by large, sophisticated buyers.
- Home to one of the world’s leading feed producers, Charoen Pokphand.
- DDGS imports up 122%, year over year.
- Trade distorting import tariff differential between DDGS (9%) and SBM (2%).
- 54,700 MT corn TRQ with 20% in quota and 73% out of quota tariffs.
- Military junta still controls the country after coup d’état.
- Government clamping down on free flow of feed wheat.
- Government’s promotion of ethanol as a replacement for MTBE is successful.
- Seen as a global leader in higher level ethanol blends.