Thailand Eyes Smart Market Makeover for Struggling Chatuchak Agricultural Trader

Theerachai Saenkaew, an adviser to the deputy agriculture minister, has been tasked by Deputy Agriculture Minister Vatchraphol Khawkham to oversee improvements at the Agricultural Market Organization (AMO), a ministry-linked agency that links farmers to consumers and domestic and international businesses. On August 13, Theerachai and his team will visit the AMO to assess operations and provide guidance.

Theerachai said the plan calls for transforming the AMO's role beyond simple marketplace management. The deputy minister has instructed the organization to pursue more aggressive trade opportunities, increase agricultural product value, and shift toward proactive operations. This includes converting the Chatuchak market into a Smart Market that raises standards for both vendors and consumers, serves as a knowledge hub for technology and innovation, and builds sustainable futures for Thai farmers.

Theerachai noted the AMO faces severe financial strain, with accumulated losses exceeding 1.414 billion baht and total debt around 9.512 billion baht. Declining revenue, rising rental and operational costs, and competition from alternative market formats have worsened the situation. The Chatuchak branch, once ranked fourth globally by CNN in 2017 among the world's best fresh markets, has fallen into decline, with over 40% of stalls empty due to high rents and weak market atmosphere.

Theerachai said he will consult with AMO board chair Krit Uttamawet and director Aphipat Lertritthisirrkul to develop a comprehensive management improvement plan and restore the market to prosperity.