Thailand’s Small and Medium Enterprise Development Bank of Thailand (SME D Bank) has been trying to process agricultural products in China’s market. And their efforts finally paid off when one of the Chinese companies decided to pilot buying of 16,000 tons of processed fruit products of Thailand that is expected to generate over two million baht in total for the farmers on small landholdings.
Owing to this event, a Memorandum of Understanding (aimed at buying Thai processed agricultural products for distribution in the Chinese market) was signed between Tai Hua Chue Group Company Limited, operated by a Thai entrepreneur, and Shenzhen Song Thong Modern Supply Chain Management Company Limited from the People’s Republic of China.
The company will purchase 16,000 tons of Thai fruits, particularly cashew nuts, mangoes, and durians from Tai Hua Chue group to generate two billion baht and more for the small farmers. For the cause, the bank has also established a fund to use to sport the “Loans for Upgrading the Community Economy” project offers special interest rates and installments up to seven years; just that the individuals will have to pay an interest rate of 0.42 percent each month in the initial three years.
The SME entrepreneurs of Thailand who want to sell their range of products in the Chinese market are suggested to consider branding, and trademark registration in order to prevent their products from copied, plus the creation of a product standard according to the Chinese conditions, and creating attractive packaging of a size, appealing to the local consumers.
