{"id":19892,"date":"2024-02-09T09:38:55","date_gmt":"2024-02-09T09:38:55","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19892"},"modified":"2024-02-09T09:41:05","modified_gmt":"2024-02-09T09:41:05","slug":"thailands-coconuts-benefit-from-50-billion-baht-spending-in-lunar-new-year","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2024\/02\/09\/thailands-coconuts-benefit-from-50-billion-baht-spending-in-lunar-new-year\/","title":{"rendered":"Thailand\u2019s coconuts to benefit from 50 billion-baht spending in Lunar New Year\u00a0"},"content":{"rendered":"\n

Thailand,<\/u><\/a> producer of 500 million coconut kernels annually, is welcoming the 2024 Lunar New Year with ample supplies of coconuts.<\/p>\n\n\n\n

The February 10 holiday could propel spending by 10% or 50 billion baht <\/u><\/a>($1.39 billion), a boon for the coconut jelly business. This will be the highest spending since 2021, according to the University of the Thai Chamber of Commerce\u2019s field survey.<\/p>\n\n\n\n

Coconut milk jelly is a popular dessert-making ingredient for Chinese restaurants in Bangkok. The eateries capitalize on the boisterous holiday mood to make pricey fancy foods in\u00a0pig heads<\/u><\/a>\u00a0and duck shapes.<\/p>\n\n\n\n

China\u2019s Multi-million Coconut Purchases<\/strong><\/strong><\/h3>\n\n\n\n

Even as the Lunar New Year celebrations bring extra spending, Thailand is already basking in last season\u2019s coconut exports to China. Sales hit 6.74 billion baht or $187.9 million <\/u><\/a>by mid-Quarter 2, 2023, a yearly rise of nearly 27%.<\/p>\n\n\n\n

China buys 80% of its coconut kernels from Thailand annually, which in turn represents 54.83% of worldwide Thai coconut exports.<\/p>\n\n\n\n

The mainstay of this crucial commerce is the Free Trade Area that enables tariff-free trade between southeast Asia and China.<\/p>\n\n\n\n

Thai Coconut Harvest Labour Issues<\/strong><\/strong><\/h3>\n\n\n\n

Amid rising coconut trade with China, Thailand is still reeling from accusations of using monkey labour <\/u><\/a>in its coconut plantations. <\/p>\n\n\n\n

Animal rights advocates in 2023 called for a boycott of Thai coconut imports to stop the use of trained monkeys to do the harvesting.<\/p>\n\n\n\n

The Minister of Commerce, Jurin Laksanawisit had first dismissed the allegations in 2020. He had said that the use of macaque primates was only a tourist lure <\/u><\/a>and not an ingrained plantation labour.   <\/p>\n\n\n\n

Lunar New Year Prices Up<\/strong><\/strong><\/h3>\n\n\n\n

Labour issues aside, costs are rising in time for the Lunar New Year, especially in high class dining spots. A premium dinner is costing up to 3,060 bhat ($85.13) per individual at local restaurants in Bangkok.<\/p>\n\n\n\n

The same applies to Thailand\u2019s coconut prices<\/u><\/a>, whose retail prices are up, currently at 49 bhat ($1.36) per unit in supermarkets.<\/p>\n\n\n\n

Hence, as Thailand readies for the Chinese New Year tomorrow, coconut and meal prices are uptick due to holiday demand.<\/p>\n","protected":false},"excerpt":{"rendered":"

Thailand, producer of 500 million coconut kernels annually, is welcoming the 2024 Lunar New Year with ample supplies of coconuts. The February 10 holiday could propel spending by 10% or 50 billion baht ($1.39 billion), a boon for the coconut jelly business. This will be the highest spending since 2021, according to the University of the Thai Chamber…<\/p>\n","protected":false},"author":3,"featured_media":19894,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\nThailand\u2019s coconuts to benefit from 50 billion-baht spending in Lunar New Year\u00a0 - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2024\/02\/09\/thailands-coconuts-benefit-from-50-billion-baht-spending-in-lunar-new-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thailand\u2019s coconuts to benefit from 50 billion-baht spending in Lunar New Year\u00a0 - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"Thailand, producer of 500 million coconut kernels annually, is welcoming the 2024 Lunar New Year with ample supplies of coconuts. 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