Thailand’s largest wholesale market, Talaad Thai, is set to undergo a Bt2.35bn (US$71m) redevelopment, according to the Bangkok Post.
Pradit Phataraprasit, Talaad Thai’s owner and chairman of the markets operator Thai Agro Exchange Co, is funding the upgrade in the hope of positioning the site as a hub for fresh produce trade before the launch of the Asean Economic Community in 2015.
“The place can be a venue for farmers to access new buyers quickly when the market widens due to the AEC. Producers can bargain for better prices,” Phataraprasit told the Bangkok Post.
Upgrages will include a new refrigeration consolidation centre, which will increase the market’s cold storage capacity by 2,000 tonnes a day.
An estimated Bt600m (US$18m) will be spent on the construction of a new container yard near the market, which will increase container capacity to 60,000 units a year, up from 13,141 currently. A further Bt750m (US$22m) has been assigned to the improvement of infrastructure.
Talaad Thai and its sister market Simummuang handle over half of Thailand’s fresh produce wholesale trade, at an estimated value of Bt180bn a year. The Bangkok Post forecasts this value will rise to Bt500bn following the revamp’s completion.
The upgrades signal the largest investment in Talaad Thai since the market opened 18 years ago.
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