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https://www.nationthailand.com/business/40015146

Thai export performance remains patchy despite hitting a 30-year high in March, the Thai National Shippers’ Council (TNSC) said on Sunday.

Thailand’s exports in March increased 19.5 per cent from a year earlier to US$28.85 billion, rising for the 13th consecutive month.

However, export performance varied from sector to sector.

The biggest rise was seen in exports of gold, at 1,046.7 per cent, followed by computers, gems and jewellery, oil and fat, and sugar.

But revenue from automotive exports products fell 12.8 per cent in March, the TNSC pointed out.

“When we subtract gold, oil and military supplies from the tally, the real total export of Thai products expanded only 8.9 per cent,” TNSC chairman Chaichan Charoensuk pointed out.

“Exporters still need to monitor the global situation closely – especially the ongoing Russia-Ukraine war and China’s lockdown to curb the spread of Covid-19 in Shanghai, which are likely to affect Thai exports for months to come,” he added.

In March, Thai exports of cars fell by 2.6 per cent, pickup trucks by 29 per cent, automotive components by 4.2 per cent and air conditioning components by 6.1 per cent.

Thai automotive exports have been dropping for the past seven months on low demand from markets such as Australia, Japan, Malaysia, India, Vietnam and the United States.

Published : May 02, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015147

Aviation authorities expect the number of flights to and from Thailand to recover to pre-Covid levels late this year after entry restrictions were lifted on Sunday.

The Civil of Aviation Authority of Thailand (CAAT) reports that is seeing more international flights following the cancellation of the Test & Go scheme yesterday.

Thailand is currently recording about 44,500 flights per month – 33,500 domestic flights and 11,000 international flights.

CAAT estimates that this total will rise to 83,500 flights late this year, with 53,000 domestic and 30,000 international flights. The latter figure is close to the 2020 pre-Covid level of international flights landing and taking off in Thailand, it added.

Prime Minister Prayut Chan-o-cha had monitored the lifting of Test & Go restrictions on Sunday and thanked government agencies for a smooth transition, government spokeswoman Traisulee Taisaranakul said.

Transport Minister Saksayam Chidchob informed Prayut that there were no serious problems, apart from some congestion at Thailand Pass counters during the peak time for flight arrivals. Airports responded by deploying additional staff at the counters and ensuring travellers maintained social distancing in queues.

Only a few passengers had to be transported from the airport to quarantine at their hotels on Sunday, mainly because they were unvaccinated, the spokeswoman said.

Although Prayut boasted that Thailand has fully reopened, the Thailand Pass system remains intact and requires foreign travellers to register before arrival. They need to show either proof of full Covid-19 vaccination or a negative RT-PCR test taken within 72 hours. Those failing to meet these criteria face five days in hotel quarantine with an RT-PCR test on day 4 or 5.

On Sunday, 96 flights landed at the Suvarnabhumi Airport, bringing in 16,868 passengers. Nearly all had been fully vaccinated or showed proof of a negative RT-PCR test, the spokeswoman said. Only 11 were required to undergo hotel quarantine.

Meanwhile, Phuket Airport saw 27 flights carrying 4,400 arrivals, only 18 of whom had to be quarantined at their hotels.

Published : May 02, 2022

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https://www.nationthailand.com/business/40015144

Data released by the National Economic and Social Development Council shows that some 37.9 million people or 98.1 per cent of people in Thailand were gainfully employed in the fourth quarter of 2021.

This was slightly higher compared to 98 per cent in the last quarter of 2020 and 97.6 per cent in the third quarter of 2021.

As of the fourth quarter of 2021, 1.64 per cent of the working-age population or some 630,000 people were unemployed, with 380,000 of them having lost their job.

Meanwhile, the labour sector has expanded by 4.1 per cent with new graduates joining it. However, up to 49.3 per cent of them have degrees in business and social science, which does not match the demands of the labour market.

Of the unemployed population, 2.27 per cent have been relying on benefits from the social security scheme, though this number has been dropping for the past five quarters.

Separately, Thailand’s Wage Committee set a new minimum daily wage rate on January 1, 2020, but the rate allocated was different in each province.

The provinces with the highest minimum daily wage are Chonburi and Phuket at 336 baht, while the lowest at 313 baht are Narathiwat, Ayutthaya and Pattani. Bangkok and its adjacent provinces come in somewhere in the middle with 331 baht.

Published : May 02, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015140

Total spending on the government’s three consumption-stimulus schemes reached 70.45 billion baht as of April 30, according to the Finance Ministry.

The “Khon La Khrueng” (Let’s Go Halves) co-shopping scheme accounted for more than 85 per cent of total spending, with 61.83 billion baht – 31.49 billion baht spent by its 26.27 million registrants and 30.34 billion baht covered by the government. Under the scheme, the government covers 50 per cent of bills for basic necessities including food, capped at 150 baht per day and 1,200 baht per person.

The other two campaigns grant funds to state welfare card holders and people in vulnerable groups to spend at participating shops. The 13.37 million state welfare card holders have spent 7.91 billion baht while 1.31 million people in vulnerable groups have spent 704.9 million baht.

The Finance Ministry said most of the subsidy was spent at food and beverage vendors (25.74 billion baht), followed by general shops (21.28 billion baht), Commerce Ministry Blue Flag shops (10.74 billion baht), OTOP shops (2.83 billion baht), service providers (1.1 billion baht), and public transport (117.4 million baht).

The three campaigns, the latest phases of which ended on April 30, saw a total of 40.95 million people exercise their rights under the government’s plan to boost domestic consumption amid the economic recession due to Covid-19.

Published : May 02, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015072

The Eastern Economic Corridor has linked up with PTT Plc and Rayong Provincial Administrative Organisation (PAO) to launch a project for price stability of durians in the eastern province.

EEC Policy Office secretary-general Kanit Sangsubhan signed a memorandum of understanding with Piya Pitutecha, Rayong PAO governor, and Charnsak Chuenchom, deputy managing director of PTT, on the price stability project. The signing took place at the Rayong PAO office on Thursday.

The ceremony was witnessed by representatives of concerned government agencies and representatives of major durian growers in Rayong.

Kanit said the project would guarantee that the price of durian in Rayong would have stability and would not fall too sharply when the markets are flooded with the fruit.

Kanit said the Rayong PAO would spend THB100 million to buy quality durians, which are fresh and safe for consumption, to be distributed to consumers around the country.

The PTT will assist the project by providing cold storage facilities that could freeze some 7,000 to 8,000 tonnes of durians in case they are oversupplied. The frozen durians would later be sold during the off-season so their prices would not fall too much.

Kanit said the EEC Policy Committee would help by finding market channels for the partners, such as checking with fruit processing factories to see if they need durians for their plant. The EEC Policy Office would also find market channels among tourism businesses in the eastern province, Kanit added.

He said durians are one of five major fruit clusters that the EEC Policy Office aims to develop in the eastern provinces.

The office will help the growers of durians to find markets and will assist them to use technology to add value or add products.

For example, the EEC Policy Office has joined hands with the National Science and Technology Development Agency to develop automatic watering system for durian orchards.

The office is urging durian growers to use Magik Growth polymer bags, developed by the National Metal and Materials Technology Centre, for wrapping durians. He said the wrapping bags helped durian peels to be some 30 per cent thinner, and the meat of the fruits increased by 20 to 25 per cent.

Published : April 29, 2022

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https://www.nationthailand.com/business/40015060

China has reopened all of its land Customs clearance checkpoints for Thai durians after closing them in the middle of this month, an adviser to the agriculture minister said on Friday.

Alongkorn Pollabutr said he had received a report from the Thai agricultural office in Guangzhou that China has allowed the import of Thai durians at the Pingxiang border checkpoint with Vietnam on Friday after it had earlier gradually reopened other border checkpoints to facilitate delivery of the fruit.

China had blocked Thai durians from April 12 to 14 after traces of Covid-19 virus were found in a fruit shipment at the Mohan border checkpoint.

Alongkorn, who is also chairman of the forward committee on solving problems related to Thai fruits, said the reopening of the Pingxiang checkpoint would speed up export of durians to China.

“All the major checkpoints have been reopened for Thai durians and other fruits, including the Youyiguan Border Gate, the Donxing Border Gate and the Mohan Border Gate,” Alongkorn said.

“This is good news for Thai farmers who grow durians and other fruits. But please make sure that your products will not be contaminated with Covid-19 virus again.”

China has a zero Covid policy and imported fruits are put through stringent tests, causing a big headache for Thai fruit exporters.

The Mohan border checkpoint in China had issued Thai durian exporters an ultimatum to resolve their Covid-19 problem in five days, starting Monday, failing which they will be banned, Sanchai Puranachaikiri, president of the Thai Fresh Fruit Traders and Exporters Association, said.

The Agriculture Ministry has also instructed all cold-chain storage operators to ensure their durians are certified under the zero Covid standard.

Last week, durian exporters in Chanthaburi province carried out a Big Cleaning Day to ensure durians from the province would not be contaminated again.

Published : April 29, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015052

Though there are some good signs of recovery in the Thai tourism industry, hotel operators are afraid that they might not be ready to serve their guests due to a shortage in the workforce.

Speaking at the monthly conference, Marisa Sukosol Nunbhakdi, president of the Thai Hotel Association, said that many of their members are desperately looking for workers.

“Domestic and international tourists are gradually increase in numbers but not hotel employees. Many of the workers are reluctant to return to work as there are concerned about some issues, such as wages, rent and healthcare,” said Marisa.

Weerasak Kowsurat, former Thai minister of tourism and sports, suggested during the conference that apart from launching more measures to stimulate the industry, the government should closely discuss with all parties in order to sort out the most suitable measure for each party.

He added that big-sized hotels and small-sized guesthouses have different demands and needs. Therefore, it would be better to find out what those entrepreneurs really needed so that the government budget is not wasted.

In his opinion, a problem that needs an urgent solution is workforce shortage in both quantity and quality.

“The government should help the entrepreneurs quickly create a well-trained labour force and support the owners to make the employees multi-skilled and having digital expertise,” said Weerasak.

The concerns were expressed as the government has scrapped the Test & Go scheme from May 1, and many experts and analysts are expecting a surge in the number of tourists arriving in the country.

Somprawin Manprasert, first executive vice president and chief economist of the Economic Intelligence Center (EIC), Siam Commercial Bank (SCB), said that it was a positive sign for the recovery of the tourism industry. With more Covid regulations relaxed, making it more convenient for tourists to visit the county, it is expected that around 5.7 million tourists will visit the country this year.

“Although the number is less than the 5.9-million estimate preceding the Russia-Ukraine war, and far from the pre-Covid 40 million, the projected number is still 10 times higher than last year,” said Somprawin.

Assoc Prof Somchai Pakkapartwiwat, an economics expert, is also positive about the Thai tourism industry. However, Thai tourism still facing some uncertainties and is fragile, and the government will have to offer some support to prop up the industry, he said.

Marisa pointed out that the private sector could not put all their hopes on the government alone while they do nothing. She said all the members of the association have agreed to help each other find a solution to the worker shortage.

Some of the solutions are, for example, holding a short training course for employed workers and discussing with local vocational universities to seek young workers or trainees.

Marisa also suggested that hotel operators improve themselves to become more attractive to new workers. Apart from offering enough incentives, the entrepreneurs should give more chances to their employees to upskill and reskill.

Tourism and Sports Minister Pipat Ratchakitprakarn recently revealed that the country plans to fully unlock and reopen no later than June. This movement will help Thailand welcome at least 1.3 million foreign tourists during the rest of the year and generate over THB700 million revenue.

Published : April 29, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015050

The baht opened at 34.44 to the US dollar on Friday, strengthening slightly from Thursday’s five-year low of 34.46.

The currency is expected to move in a range between 34.35 and 34.50 on Friday, said Krungthai Bank market strategist Poon Panichpibool.

Poon forecast the baht would fluctuate and likely test the resistance level of 34.50.

However, he did not expect it to drop much below 34.50 as risk-on market factors would support the currency.

He said the generally risk-averse market coupled with the Covid-19 situation in China could add downward pressure on the baht. The Thai currency is also being squeezed by dividend transactions and gold purchases, with investors buying more of the precious metal as the price drops.

However, foreign investors are currently making net purchases in the Thai stock market, meaning the baht may not breach the key resistance level, Poon added.

On Tuesday, the Bank of Thailand (BOT) said it would take action if the baht’s value became too volatile in the face of US rate hikes.

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

Published : April 29, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015029

Household debt in Thailand surged to around THB218,000 per household, the highest in 14 years, according to the University of Thai Chamber of Commerce (UTCC).

Thanawan Polvichai, director of the UTCC Centre for Business and Economic Forecasting, said that 99 per cent of people who earned a salary less than THB15,000 per month were in debt. He said the total household debt is 90 per cent of gross domestic product.

He said the indebtedness was caused by salaries not being enough to cope with the cost of living and increasing prices of products. Those who already have debts have to be careful when spending and repaying the debt. It is expected that spending on the Labour Day holiday this year will be only THB1.525 billion, down by 14.9 per cent from the previous year.

He said workers are requesting the government to increase wages to keep pace with the current cost of living. They also want the government to take care of unemployment and debt repayment. They believe the current wage is too low when compared to the increasing cost of living.

However, according to experts, increasing the daily wage to THB492 nationwide, as they have requested, might be too high because a 10-20 per cent increase in wages in a single time will be a huge burden, especially for small operators. They might lack the liquidity to increase the wages and may have to reduce the workforce instead.

He suggested that a tripartite committee in each province consider and adjust according to the situation.

Published : April 28, 2022

By : THE NATION

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https://www.nationthailand.com/business/40015027

Deputy Prime Minister and Commerce Minister Jurin Laksanawisit said on Thursday that his ministry had not yet allowed instant noodle manufacturers to increase their retail prices.

Jurin said reports about certain brands of instant noodles raising prices were related to internal marketing systems of the manufacturers that affected wholesale prices.

“An increase in the retail prices of instant noodles for consumers has not been approved yet,” Jurin said.

The Commerce Ministry will try its best to handle this, he said, adding, “We will try to maintain the current retail prices as long as possible to minimise impact on consumers.”

Instant noodles are popular among low-income people, who are hardly able to make ends meet. Economic experts fear an increase in retail prices of instant noodles would further pressure inflation, which is already rising.

Jurin admitted that the rising oil prices had affected the cost of manufacturing, but the Commerce Ministry would try to maintain the current retail prices as long as possible.

“But we will have to make sure that the manufacturers do not suffer losses because if they stop manufacturing activities, there will be a shortage of products in the market,” Jurin said.

He said the ministry is trying to maintain retail prices of consumer goods in 18 categories but they will have to strike a balance among the manufacturers of the products, farmers who provide raw materials, and consumers.

Jurin was speaking to reporters in front of the passenger arrivals lounge at the Phuket International Airport as he arrived to attend the 4th Joint Trade Committee meeting at the ministerial level with Bhutan.

The meeting was held on Thursday at the Dusit Thani Laguna Hotel in Thalang district.

Jurin said Thailand was hosting the fourth meeting, which was crucial for establishing trade and economic ties between Thailand and Bhutan.

During the meeting, he would discuss with his Bhutanese counterpart cooperation in agriculture, manufacturing, and tourism affairs as well as other areas of cooperation.

Jurin said Bhutan could be a new export market for Thailand and tourists from Bhutan could also help boost the country’s economy.

Jurin said he would also preside over the opening of the E-Sport competition held by the Phuket Provincial Administrative Organisation (PAO) on Friday.

The deputy prime minister added that he would also represent the Cabinet to hand over a budget to the Phuket PAO for starting a sufficiency housing project, or repairing homes of underprivileged people in the island province.

Published : April 28, 2022

By : THE NATION