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https://www.nationthailand.com/business/40016525

The number of secondhand houses offered for sale jumped by over 20 per cent in the first quarter of this year from the same period last year, the Government Housing Bank’s Real Estate Information Centre (REIC) reported on Friday.

An average of 137,957 pre-owned housing units per month were advertised for sale for the average combined price of THB938 billion in the first three months of 2022, the REIC said.

Those monthly numbers represented a 20.2 and 25.1 per cent increase, respectively, when compared to the same period last year, which saw a monthly average volume of 114,794 units and a monthly average value of THB749.6 billion, according to the centre.

However, there was a slight decline when compared to the fourth quarter of 2021, when 145,753 pre-owned housing units were offered for sale per month for an average monthly value of THB990.2 billion.

The REIC data were collected from state financial institutions, public asset management companies, Legal Execution Department, and websites specialising in secondhand housing units, such as Taladnudbaan.com.

Bangkok saw the most number of secondhand houses offered for sale in the first quarter of this year — an average of 54,627 units per month, representing almost 40 per cent of the country’s total, said REIC acting director-general Vichai Viratkapan.

He added that the average total value of houses sold in the capital during that period was THB581 billion, accounting for 62 per cent of the entire country.

In terms of number of units, Bangkok was followed by Nonthaburi, Samut Prakan, Pathum Thani, Chonburi, Chiang Mai, Rayong, Prachuap Khiri Khan, Phuket, and Nakhon Ratchasima provinces.

The monthly volume of pre-owned houses on offer in the top 10 provinces accounted for 75.5 per cent of the country, with the monthly value representing 88.6 per cent, according to Vichai.

Secondhand houses in the price range of THB3-5 million were the most popular, accounting for 23,295 units, or 16.9 per cent of all offered for sale per month in the first quarter.

Those with prices ranging from THB7.5 million to 10 million were the least popular — 7,432 units were put up for sale, accounting for 5.4 per cent.

Vichai said Thailand’s secondhand housing market saw an expansion in the first quarter compared to the same period last year.

Detached houses made up 40 per cent of all units put for sale in the first quarter — the largest group of all. They were followed by apartment suites 29.5 per cent, townhouses 26.4 per cent, shophouses 2.6 per cent, and duplexes 1.6 per cent.

Published : June 10, 2022

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https://www.nationthailand.com/business/40016491

The baht opened at 34.57 to the US dollar on Friday, weakening from Thursday’s close of 34.49 and marking the lowest drop in three weeks.

The currency is expected to move in the range of 34.55 and 34.75 on Friday, Krungthai Bank’s market strategist Poon Panichpibool predicted.

He said the baht may fluctuate and weaken to test the resistance level at 34.70 to 34.80 – the point that exporters are waiting for to sell the dollar.

He said the baht is being pressured by concerns that the US Federal Reserve may increase the interest rate and thereby strengthen the dollar.

Hence, he said, investors should keep a close eye on the US Consumer Price Index. If inflation surges from the previous month, investors can expect the Fed to push the interest rate to a higher level.

The baht is also pressured after China enforced lockdown measures in Shanghai again, which affects investments in emerging Asian markets.

Poon advised investors to use hedging tools such as options to manage risks in the highly volatile currency market.

Published : June 10, 2022

By : THE NATION

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https://www.nationthailand.com/business/40016455

The baht opened at 34.51 to the US dollar on Thursday, strengthening from Wednesday’s close of 34.54.

The currency is expected to move in a range between 34.40 and 34.60 on Thursday, predicted Krungthai Bank market strategist Poon Panichpibool.

Poon said the Thai currency might fluctuate and weaken early during the day as the dollar strengthens because the markets are in a risk-off state amid concerns that the US Federal Reserve would increase the interest rate.

Meanwhile, the European Central Bank (ECB) is scheduled to hold a key meeting at 6.45pm (Thailand time), which would cause the baht to seesaw before and after the meeting, he pointed out.

If the ECB signals that it would increase the interest rate and stop injecting liquidity via quantitative easing, the euro might advance and cause the dollar to weaken, in turn strengthening the baht, he said.

However, Poon said the US currency might not weaken even if the ECB signals it will increase the interest rate, because the movement of the dollar will depend on US Consumer Price Index results due on Friday. If US inflation is seen to slow, it might reduce concern that the Fed would increase the interest rate by a big margin and would cause the dollar to weaken.

According to Poon, the baht’s key resistance level is 34.70-34.80 to the dollar as exporters speculate that the Thai currency might weaken in the short term and are waiting to offload the dollar at that level.

Moreover, foreigners might invest in short term bonds again if the baht does not weaken past the resistance level.

Poon advised businesses to use hedging tools such as options to manage risks in the highly volatile currency market.

Published : June 09, 2022

By : THE NATION

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https://www.nationthailand.com/business/40016447

Mitr Phol Group, Asia’s largest sugar producer, wants Thailand’s Commerce Ministry to be open to discussing the raising of sugar prices as the cost of the cultivation and production has surged by 40 per cent.

Speaking to the media during a tour around his factory in Suphan Buri province, Buntoeng Vongkusolkit, chairman of Mitr Phol Group, said the current surge in global prices of sugar was due to a reduction in supply after India, the world’s largest sugar producer and second-largest exporter after Brazil, decided to curb its sugar export. He said it would not seriously impact Thai supply and exports.

He insisted that production right now is adequate for domestic consumption and for regular export. However, in his view, the issue of most concern is the rising cost of cane cultivation and production of sugar.

Diesel fuel and fertilizer are the main cause of his concern as the prices of those two have already increased by 40 per cent compared to the last harvest season.

“Our company and the Sugarcane Farmers Association have already sent our request to the Office of the Cane and Sugar Board several times so that they can raise the issue with the government. Sugar is a price-controlled commodity so we need to discuss it with the government before raising the price. We still hope that they will talk to us soon about the proper price,” Buntoeng said.

When asked what is the appropriate price for sugar right now, Buntoeng did not respond. He said global sugar prices currently stand at around 19 cents per pound, so the price of Thai sugar should not be more than that level.

He urged the government to urgently consider raising the price of sugar before global sugar prices decline. 

He explained that the reason farmers and producers were still able to endure the present conditions were because the price of sugar is really good. However, when sugar supply increases to meet the demand but the cost of energy and fertilizer remains high, that would be the real crisis.

Published : June 08, 2022

By : THE NATION

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https://www.nationthailand.com/business/40016444

The Bank of Thailand (BOT) has told a committee of lawmakers to consider the fiscal 2023 budget bill as the country’s economy is showing steady improvement and the trend was likely to continue in 2023.


The BOT cited major contributions to the economic recovery from increasing domestic demand and revival of tourism.

The House of Representatives committee held a meeting with officials from the central bank and related agencies on Tuesday after the first reading of fiscal 2023 budget bill had been approved in principle by the House of Representatives during voting last Friday (June 3).

“The BOT estimated that the total number of foreign tourists in 2022 would reach 5.6 million people, while Thailand’s gross domestic product would bounce back to the same level as before the Covid-19 outbreak by the first quarter of 2023,” the committee’s spokesman, Paopoom Rojanasakul, said on Wednesday as he summarised Tuesday’s meeting.

“Negative factors that could hinder economic recovery include the impact of the Russia-Ukraine war, which has affected global consumption and investment, and the rising inflation,” he added. 

“Meanwhile, the BOT estimated that the impact from the Omicron wave will be significantly smaller than that of the Delta wave last year.”

Agencies that participated in the meeting also notified the committee that in the rest of 2022, Thailand would face two major risk factors, namely rising domestic cost of living and shortage of foods, raw materials and fuel in the manufacturing sectors. These factors will further increase the inflation rate and will continue to rise until next year, when it is expected to gradually come down.

The committee also noted that the US Federal Reserve’s aggressive increasing of interest rate by half a percentage point on May 4 in an effort to slow inflation, which is considered the highest in 40 years, is having an impact on Thailand’s export sector.

Published : June 08, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40016437

The Monetary Policy Committee (MPC) has decided to keep the policy interest rate at 0.50 per cent per year.

MPC secretary Piti Disyatat said on Wednesday after the meeting that four members voted to maintain the policy rate at 0.50 per cent while three members voted to raise the policy rate by 25 basis points.

The committee speculated that the Thai economy could grow continuously and has a chance to recover better than expected because domestic demand and foreign tourist arrivals were picking up.

The committee forecast that headline inflation was likely to increase and stay at a high level longer than previously expected due to the increasing oil price and higher costs being passed on. The MPC deemed that a very accommodative monetary policy would be less needed going forward.

However, to ensure that the economy would be able to recover as expected, a majority of members voted to maintain the policy rate in this meeting and would monitor the development of economic recovery and inflation risks closely.

Meanwhile, three members viewed the information on economic recovery and inflation risk as already clear enough to raise the policy interest rate in this meeting.

The committee also speculated that the Thai economy would grow by 3.3 per cent in 2022 and 4.2 per cent in 2023 as domestic consumption has recovered better than expected, especially in the services sector.

Moreover, the number of foreign tourists is expected to increase continuously due to the relaxation of border controls in Thailand and other countries.

Moreover, the labour market and household incomes showed signs of improvement after the easing of prevention measures and the economic recovery.

Meanwhile, the impact of the Covid-19 situation and the Ukraine-Russia conflict on the Thai economy will be limited.

However, the committee said it would continue to monitor risk factors for economic recovery in the later phase, especially the impact of higher prices on the cost of living for households.

Published : June 08, 2022

By : THE NATION

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https://www.nationthailand.com/business/40016415

The baht opened at 34.42 to the US dollar on Wednesday, strengthening from Tuesday’s close of 34.47.

The currency is expected to move in a range between 34.35 and 34.55 on Wednesday, predicted Krungthai Bank market strategist Poon Panichpibool.

Poon said the baht might fluctuate and weaken during the day, especially before and after a key Monetary Policy Committee (MPC) meeting. If the MPC does not provide any signal that it would gradually increase the interest rate even if inflation rises, investors might still feel it will increase the rate eventually and this may force them to offload their bonds, Poon said.

However, whether the baht strengthens or weakens, it may not be by too much especially if the MPC thinks the economy might be improving and the tourism sector recovering better than expected.

Poon said the baht’s resistance level is 34.50 to 34.60 to the dollar – the level at which exporters are waiting to sell the US currency.

He added that the baht might not weaken heavily if investors do not view EM Asia assets as risky.

Poon advised businesses to use hedging tools such as options to manage risks in the highly volatile currency market.

Published : June 08, 2022

By : THE NATION

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https://www.nationthailand.com/business/40016403

Thailand’s rice exports are expected to reach 600,000 to 650,000 tonnes in May on pending delivery contracts, following higher rice demand and the weakening baht, the Thai Rice Exporters Association (TREA) said on Tuesday.

TREA President Charoen Laothamatas said Thailand exported 2,291,916 tonnes of rice worth THB39.44 billion in the past four months (January-April), up 52.7 per cent and 36.4 per cent year on year, respectively.

However, in April alone, Thailand exported 548,636 tonnes of rice worth THB9.97 billion, down 15.3 per cent and 10.0 per cent month on month, he said.

He said the decline in April rice exports were due to rising domestic prices, which led to a hike in the export prices as a result rice importers delayed purchase and delivery.

Charoen Laothamatas

Charoen added that Thailand exported 199,939 tonnes of white rice and 94,572 tonnes of steamed rice in April, down 35 per cent and 18.9 per cent month on month, respectively, due to the aforementioned issues.

However, the export of jasmine rice was up 4.6 per cent compared to the previous month, to 149,594 tonnes, thanks to an increase in export to countries in the Middle East, he said.

As of June 1, the price of 5 per cent white rice in Thailand was US$465 per tonne compared to $423-$427 in Vietnam, $338-$342 in India and $373-$377 in Pakistan.

Meanwhile, Thailand’s price of steamed rice was $480 per tonne compared to $348-$352 in India and $392-$396 in Pakistan.

Published : June 07, 2022

By : THE NATION

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https://www.nationthailand.com/business/40016389

The government will exempt 60,344 factories from the annual factory licence fee to help operators recover in the aftermath of Covid-19, Industry Minister Suriya Juangroongruangkit said.

Suriya said on Tuesday that he had told the Industrial Works Department to exempt the annual factory licence fee for factories under Category 2 and Category 3. The fees were scheduled to be collected on Thursday. The fee exemption has been granted for three consecutive years.

He explained that it was one of the measures to help recovery for operators who were affected by the pandemic.

Meanwhile, the department’s director-general, Wanchai Phanomchai, said that the Cabinet has approved the decision and it will be published in the Royal Gazette, to be enforced from June 10, 2022, to June 9, 2023.

He said that there are 60,344 Category 2 and 3 factories this year while the total annual factory licence fee collection amounts to THB280 million.

Wanchai said that there is a growing investment trend. The number of factories has grown by 3.5 per cent in fiscal 2022, with an investment budget of THB45.477 billion.

The top three industries with the most number of new factories are: food, metal, and electric appliances and devices.

Published : June 07, 2022

By : THE NATION

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https://www.nationthailand.com/business/40016379

The Finance Ministry said a move to borrow 30 billion baht to boost liquidity of the Oil Fuel Fund is on hold as the fund is not a juristic entity so cannot apply for the loan itself.

Finance Minister Arkhom Termpittayapaisith said the ministry would submit the issue to the Council of State for legal advice on the fund’s status as a borrower.

“Meanwhile, the Oil Fuel Fund can ask the government to boost its liquidity via the central budget, which would require approval from the Energy Ministry,” Arkhom added.

The diesel price rose today from 32.94 to 33.94 baht per litre, on instructions from the Oil Fuel Fund executive committee.

The Oil Fuel Fund Office says the fund is 86.02 billion in debt – 40.14 billion from subsidising fuel and 35.88 billion baht from subsidising LPG – and only has liquidity of about 10 billion baht.

Thai Chamber of Commerce (TCC) chairman Sanan Angubolkul says a diesel price rise to 35 baht per litre would impact people’s living costs. However, the private sector believes the 35-baht price point is still “manageable” as they have adjusted strategies to cope with the global energy price crisis, he added.

Sanan said 35 baht per litre was still lower than in neighbouring countries, adding that the actual market price was higher.

Federation of Thai Industries (FTI) president Kriangkrai Thianukul said the private sector was more worried about the shortage of raw materials than the rising prices of fuel or products. He explained that global demand for Thai exports remained high, but rising costs could disrupt supply chains in certain industries.

Published : June 07, 2022

By : THE NATION