The massive floods caused THB50 billion (USD1.59b) in damage to Thailand's food industry, dampening next year's export estimate to THB971b, says the National Food Institute.

More than 1,300 food factories in Thailand were affected by the floods, or about 15 percent of all food factories, according to NFI president Petch Chinabutr.

Factories in regions that were not inundated, such as the North and the South, had to slow production by 10-30 percent for lack of raw materials and packaging.