Thailand’s traditional herb industry expected to grow by THB50 billion this year
The Department of Thai Traditional and Alternative Medicine is working on further developing traditional herbs as it expects the Thai herb market to bring in an extra 50 billion baht this year.
Dr Thiti Sawangtham, the department’s deputy director-general, said on Sunday that the global herb market is valued at around US$91.8 billion, and the top five consumers are Japan, South Korea, China, France and Germany. He was citing data from the Department of International Trade Promotion.
Also, he said, the export value of Thai herbs stands at around 100 billion baht, thanks to many people opting for healthier and more eco-friendly products.
“If Thailand becomes a herb-production hub that meets international standards, we can develop herbs that will help generate income for farmers, boost the growth of the industry and expand the market,” he said.
He expects the Thai herb market to grow by more than 50 billion baht this year as the demand for at least 24 Thai herbs is currently high.
“The department’s division in charge of developing cash crops is opening distribution channels for farmers to boost the industry’s growth,” he added.
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