From Rice Fields to Labs: Thailand’s Biotech Revolution in Agriculture 

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The Agriculture Market in Thailand 

Agriculture remains a critical pillar of Thailand’s economy. In 2024, the sector accounted for 8.71% of GDP—a slight increase from 8.56% in 2023. It also employs about one-third of the labor force, underscoring its vital role in supporting rural livelihoods. 

Exports are robust — from January to October 2024, agricultural export revenue reached approximately USD 47.5 billion, contributing to a larger trade value of approximately USD 66.4 billion and producing a strong trade surplus of over USD 27.8 billion. Top export goods range from rice and durian to rubber, processed chicken, and even pet food. These exports are largely bound for China, ASEAN, the United States, Japan, and the European Union —Thailand’s main trading partners.   incentives and strategic clarity for global investors considering India as a long-term manufacturing base.

In the first quarter of 2025, Thai agricultural GDP rose even further. The market climbed to an all-time high of USD 5.56 billion, up from USD 5.35 billion in Q4 2024. 

Crucial Actors in the Agri-Biotech Boom

Central to Thailand’s growing agri-biotech sector are influential institutions that push innovation using mechanisms like science-informed policy, tax incentives, and digital technologies. 

The Ministry of Agriculture and Cooperatives leads climate-smart innovations

In light of this record high, Mr. Peeraphan Korthong, Director-General of the Ministry of Agriculture and Cooperatives, highlighted the department’s efforts to strengthen farmers’ climate resilience by promoting science and technology in agriculture. Some of these key tools monitor and manage environmental metrics such as temperature, light, weather patterns, and soil or water quality, with the intent to optimize productivity, ensure stable incomes, and reduce losses. 

The Board of Investment (BOI) supports the agri-biotech industry through various incentives 

The Board of Investment (BOI) also plays a major role in boosting the sector. It promotes agriculture and biotechnology activities such as health-enhancing foods, innovative and organic food production, and medical foods. Promoted projects will receive compelling incentives including corporate income tax exemptions of up to 13 years, import duty exemptions on machinery and raw materials, and non-tax benefits such as foreign ownership rights.  

The Eastern Economic Corridor (EEC) positions Thailand as a regional biotech hub

Meanwhile, agriculture and biotechnology are among the target industries for investment in the Eastern Economic Corridor (EEC). The EEC is actively promoting these sectors through the establishment of the EasternEconomic Corridor of Innovation (EECi) in Wangchan District, Rayong Province. Within EECi, Food Innopolis serves as a central R&D hub, leveraging digital technologies in farming, food innovation, and production processes to establish Thailand as a regional leader in the future of food, agriculture, and biotechnology. 

Emerging Agri-Biotech Solutions in Thailand 

As the sector continues its unprecedented expansion in Thailand, notable agricultural advancements and investments are being rolled out. Standout companies and systems are emerging, showcasing how innovation and investment are transforming Thailand’s agri-biotech industry.

The AGROWTH platform

Easy Rice

Chia Tai – XAG Thailand and FarmInno (Thailand)

National Electronics and Computer Technology Centre (NECTEC)- HandySense B-Farm 

International investments power Thailand’s agri-biotech expansion 

Thailand’s surging agri-biotech market is attracting substantial global investment, with companies spanning regions from Europe to South America joining in on the momentum. Ranging from hybrid seed production to sustainable bio-based manufacturing, foreign capital is only further fueling the country’s rapid growth in agricultural innovation.  

Syngenta (Switzerland)

Braskem (Brazil)

Braskem Siam, a joint venture between Brazil’s Braskem and Thailand’s SCG Chemicals, received approval from the Thailand BOI in 2024. The companies plan to invest approximately USD 595 million to build a 200,000 tonnes/year bio-ethylene plant at Map Ta Phut Industrial Estate in Rayong province. The facility will produce sugarcane-based bio-ethylene via bio-ethanol dehydration, which will then be used to manufacture green bio-based polyethylene (PE). This plant will be the first of its kind outside Brazil.

A strategic window for global investors

As Thailand continues to advance in the agricultural and biotechnology sectors, the demand for strategic insights, market entry guidance, and project facilitation is growing. Companies looking to navigate this dynamic landscape can benefit from expert support in connecting with local stakeholders, understanding regulatory frameworks, and identifying growth opportunities.  

With 30 years of experience in Thailand’s industrial and agricultural markets, Tractus is primely positioned to assist businesses in unlocking the full potential of Thailand’s agri-biotech ecosystem, leveraging our process-driven methodology to collect, verify, and evaluate data for optimal site-selection across APAC. 
 

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Authored by

Written by Roongrada Tamanakijprasart, Research Analyst based in the Thailand office.