Thailand eyes opportunities for canned food exports to Italy
Patama Singhara Na Ayudhaya, Director of the Thai Trade Centre in Rome, has revealed that a marked downturn of the Italian economy should provide an opportunity for Thai canned food exports to penetrate the market with their affordable prices.
Patama Singhara Na Ayudhaya, Director of the Thai Trade Centre in Rome,has revealed that a marked downturn of the Italian economy shouldprovide an opportunity for Thai canned food exports to penetrate themarket with their affordable prices.
The EU membercurrently has an accumulated debt of 1,946,000 euros as of January2012, making it one of the countries with huge public debts in theworld. Italy ’s public debts account for 120 percent of its GDP. Anumber of Italian producers, approximately 3,000 companies, are in theprocess of filing for bankruptcy. Since 2009, over 17,000 Italiancompanies have shut down. This has led to lower purchasing power ofItalian people.
Lower spending capability inItaly has led to a 27 percent decrease in Thai exports to thatcountry. Thailand exports goods worth more than 500 million USD toItaly annually.
Despite the general drop, Thai food exports toItaly are on a rising trend. They include canned seafood, andfresh, chilled, and frozen fish, squid, and shrimp. The economicrecession has forced many Italians to become more frugal, and they areturning more towards canned food consumption.-VNA
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