Ajva Taulananda, CP Group's vice chairman, said that despite domestic political unrest and the European debt crisis, purchase orders for Thai goods from key markets such as the United States, Japan and even the European Union are expanding. Shipments to each of those three markets would grow by 10% this year, he said.

Other markets are also expanding, particularly China, India and Asean.

The dollar value of the country's exports rose by 31.61% year-on-year in the first quarter to $44.38 billion.

Commerce Minister Porntiva Nakasai said recently that Thailand's exports were expected to continue their upward momentum in the second quarter, with growth of about 35% from the same period a year earlier.

The ministry, however, expects exports to grow by just 14% this year to $173 billion.

CP Group said exports of agricultural products, such as rubber and tapioca but excluding rice, would remain in good shape this year.

Widespread drought is expected to trim Thailand's rice production this year, reducing paddy output to an estimated 28 million tonnes from 30 million last year. Rice exports are forecast at between 8 million and 8.5 million tonnes down from 9 million last year.

"The impact of drought on rice production is unlikely to be as severe as had been feared earlier, as rain is coming," said Mr Ajva.

"But we see it will be much better (for the farm sector) if the government beefs up investment in irrigation system development and raises the incomes of farmers by enabling them to sell their crops at fairly good prices."

CP Group said it was slightly affected by last month's political unrest, suffering only marginal damages, mainly from branches of 7-Eleven stores that were ransacked during the May 19 riots.

The group is currently well diversified in terms of its domestic and international investments, enabling it to hedge against risks in any particular markets including Thailand, said Mr Ajva.

CP Group's revenues would expand to about 600 billion baht this year, he said.