Climate change hits Thai economic system, requires sensible agriculture surge

The economic system has been negatively impacted due to the challenges presented by climate change, resulting in a lower in farmers’ income due to decreased production, and affecting international funding. This has subsequently resulted in greater inflation and price of living and impacted the export of agricultural products and meals. This insight is in accordance with a current study conducted by the Trade Policy and Strategy Office of the Commerce Ministry.
The authorities and personal sector are actually being called to motion to expedite their efforts to mitigate these challenges. The proposed options embrace the promotion of smart agriculture, adoption of expertise, encouragement of high-yield, drought-resistant crops, acceleration of organic farming, and the establishment of rising zones. These initiatives are geared toward boosting competitiveness and resilience, with a strong concentrate on environment-friendly production practices.
Poonpong Naiyanapakorn, the director-general of the Trade Policy and Strategy Office, reported that the research discovered that whereas international climate change is a gradual process, its effects are far-reaching.
“The workplace has just lately conducted a examine on the impression of climate change on the financial system and it was found that world climate change, though occurring slowly, has wide-ranging results. Climate change has led to rising global temperatures, elevated sea ranges, frequent disasters, flooding and droughts. These developments are prone to exacerbate economic disparities in Thailand, particularly affecting low-income teams that closely rely on agriculture for his or her livelihood.”

The altering global climate has directly hit the earnings of farmers, with many seeing losses from crop damage and decreased yields due to unpredictable weather patterns and natural disasters. Some farmers, in hopes of future profits from the sale of their produce, have needed to resort to loans to finance their planting within the new season. Others have needed to promote their assets, leading to a decrease of their total wealth. This resulted in a significant debt burden on farmers and a troublesome escape from the debt cycle, making a urgent problem of inequality that needs authorities intervention to mitigate the harm.
Poonpong also revealed that climate-related challenges have swayed the decisions of overseas traders.
In 2011, the economic manufacturing sector was severely affected by a major flood catastrophe in Thailand, resulting in a 21.8% contraction within the fourth quarter in comparison with the earlier year as a end result of manufacturing and logistics disruptions. Certain industries, similar to electronics manufacturing, which are prone to pure disasters, decided to relocate or increase their manufacturing bases to neighbouring international locations to minimise risks.
Recurring droughts in Thailand have deterred semiconductor manufacturers from considering the country as a manufacturing hub, given the industry’s heavy reliance on water. The threat diversification by international buyers during this period led to a decline in labour demand in Thailand and a lack of potential investment alternatives, resulting in income loss and additional inequality.
Poonpong confused that to deal with these climate change-related challenges, preparedness and collaboration amongst government agencies, entities in the non-public sector and the common public is necessary. Encouraging farmers to embrace expertise, similar to good farming and precision farming, is essential to optimise water use and reduce water consumption in agriculture.
To ensure Value in agriculture, the government has a major position in providing financial assist to farmers and educating them about technology adoption in farming.
Follow more of The Thaiger’s newest tales on our new Facebook web page: CLICK HERE..

Leave a Comment