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Climate change hits Thai economy, calls for smart agriculture surge
Photo courtesy of FG Trade Latin (iStock). The economy has been negatively impacted due to the challenges presented by climate change, leading to a decrease in farmers’ income because of reduced production, and affecting foreign investment. This has subsequently resulted in higher inflation and cost of living and impacted the export of agricultural products and food. This insight is according to a recent study conducted by the Trade Policy and Strategy Office of the Commerce Ministry.
The government and private sector are now being called to action to expedite their efforts to mitigate these challenges. The proposed solutions include the promotion of smart agriculture, adoption of technology, encouragement of high-yield, drought-resistant crops, acceleration of organic farming, and the establishment of growing zones. These initiatives are aimed at boosting competitiveness and…
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