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The Star
13-05-2025
- Business
- The Star
Thailand's edible insect market poised for explosive growth
BANGKOK: Thailand is positioning itself to capitalise on the rapidly expanding global edible insect market, which experts predict will grow by 25.1% annually between 2025 and 2030, as consumers worldwide increasingly turn to sustainable protein alternatives. Already ranked as the world's sixth-largest insect exporter, Thailand's deep-rooted expertise in insect farming and growing domestic market acceptance provide a solid foundation for expansion in this emerging sector. The shift toward insect protein comes as environmentally conscious consumers seek alternatives to traditional livestock farming, which generates approximately 14.5% of global greenhouse gas emissions. - Photo: The Nation/ANN By comparison, insect farming produces remarkably lower environmental impacts: - Producing one kilogram of insect protein generates just one kilogram of CO₂ equivalent—27 to 40 times less than conventional livestock - Requires 5-13 times less water and feed than cattle, pigs, and chickens - Can operate in limited spaces with significantly higher efficiency "Thailand has a competitive advantage with our rich heritage of catching, farming, and cooking a diverse range of edible insects," says Kasikorn Research Center in its latest market analysis. "The nation already produces over 7,000 tonnes of these 'economic insects' annually." While rising global temperatures pose challenges for traditional livestock—potentially reducing yields by up to 38%—many insect species actually thrive in warmer climates, potentially accelerating production cycles. This climate resilience could further strengthen Thailand's position in the global market as traditional protein production faces increasing challenges from climate change. For Thai farmers, insect farming represents a potentially lucrative opportunity: - Initial investment for a basic cricket farm ranges from 45,000 to 75,000 baht - Fresh insect sales can generate profits between 9,600 and 37,000 baht annually - Processing insects into flour could increase profits to 260,000 baht per year - Land-use efficiency can generate up to 9,300 baht per square meter—significantly higher than the 1,500 baht per square meter from broiler chickens or dairy cows Market Growth and Challenges The global edible insect market, valued at US$1.35 billion in 2024, is gaining traction particularly in Europe, the Americas, and East Asia. Insects are increasingly being utilised in protein powders, bars, and as ingredients in animal feed. Thailand currently accounts for 6% of the world's total insect export value (approximately US$586,000), with the United States as the primary destination market. Despite this potential, consumer acceptance remains a significant hurdle, with unfamiliarity and food safety concerns presenting obstacles to widespread adoption. The broader impacts of large-scale production also require careful monitoring. Nevertheless, with appropriate government support and promotion of both domestic consumption and exports, Thailand's edible insect sector could become a cornerstone of a more sustainable food system, generating substantial income while reducing environmental impacts. "With our combination of local knowledge, favorable climate, and alignment with global sustainability trends, Thailand is uniquely positioned to become a leader in this growing market," the research concludes. - The Nation/ANN
The Star
21-04-2025
- Business
- The Star
Xi's visits to South-East Asia hailed as inspiring, strategic and timely
BEIJING: President Xi Jinping's recent trip to South-East Asia, his first overseas visit this year, underscored China's commitment to bolstering good-neighbourly relations and promoting mutually beneficial cooperation, analysts said. Xi visited Vietnam, Malaysia and Cambodia last week, demonstrating China's dedication to supporting multilateralism and international trade rules. Amid global challenges like trade protectionism and unilateralism, China's efforts to build a community with a shared future with its neighbours inject fresh energy into regional and global economic growth and stability, the analysts said. Throughout his tour, Xi reaffirmed China's commitment to fostering friendship and partnership with neighboring nations. In Vietnam, Xi said that building the China-Vietnam community with a shared future carries great global significance. In Malaysia, he said that China is ready to work with Malaysia to build a high-level strategic China-Malaysia community with a shared future. In Cambodia, Xi and Cambodian Prime Minister Hun Manet agreed to build an all-weather China-Cambodia community with a shared future in the new era and designated 2025 as the China-Cambodia Year of Tourism. Rujipun Assarut, a senior researcher at the Kasikorn Research Center in Bangkok, Thailand, said, "Amid US tariff tensions, President Xi Jinping's South-East Asia trip is a well-timed and strategic move signifying how China is willing to be a dependable economic partner while nurturing relationships in the advancement of mutual prosperity among the countries. "China and the countries have signed dozens of cooperation agreements, including deals on enhancing supply chains and railway cooperation with Vietnam and upgrading joint industrial parks with Malaysia. These will strengthen cooperation in supply chains and trade promotion between China and the region," he added. Nguyen Minh Vu, Vietnam's permanent deputy minister of foreign affairs, said the outcomes of President Xi's state visit are diverse and outstanding, with positive and long-term impacts on bilateral relations, according to a report by Vietnam News. Malaysian Minister of Foreign Affairs Mohamad Hasan told local media on Thursday (April 17) that Malaysia and China will set up a consultative council to coordinate the implementation of 31 bilateral cooperation documents signed between the two countries during Xi's state visit. Loh Wee Keng, chairman of the Malaysian Chamber of Commerce and Industry in China, said: "Twelve years ago, during President Xi's first visit to Malaysia (as president), he introduced numerous projects. This year's visit further enhances China-Malaysia cooperation, opening up more opportunities for businesses." He emphasised that as the United States' new tariff policy creates global economic uncertainty, Xi's visit to South-East Asia was timely and will bring more economic opportunities and stability to the region. Suthiphand Chirathivat, a professor emeritus of economics and former director of the Asean Studies Center at Chulalongkorn University, said Xi's trip conveyed the message that China wants to work together with Association of Southeast Asian Nations (Asean)member countries for an open dialogue. "Asean countries should take a pause and think about who should be trusted. It's obvious that the US only prioritises its own interests. As emerging economies in the world, China and Asean are important to each other and need each other," he said. "As economic and trade cooperation between China and Asean accelerates, trade and investment continue to grow steadily, and collaboration in industrial and supply chains is becoming increasingly close. After President Xi's trip, I believe such relations will grow even closer with stronger mutual trust," he added. Chhem Kieth Rethy, senior minister and chairman of the Economic, Social and Cultural Council of Cambodia, said he believes that the building of an all-weather China-Cambodia community with a shared future in the new era will be a moment of renewal for both countries. President Xi's visit inspired greater confidence regarding the cooperation and development between the two countries, he said. - China Daily/ANN
