The Commerce Ministry on Monday praised Danupha “Milli” Khanatheerakul for using mango sticky rice as soft power at Coachella Valley Music and Arts Festival in California.

Mango sticky rice shot to global fame after Milli ended her set at the Coachella on Sunday by eating the traditional Thai dessert.

Commanding the stage in a skimpy red outfit, Milli took a break from her twerk-heavy dance routine to grab a bowl and take a mouthful.

Mallika Boonmeetrakool, the adviser to the commerce minister, said using mango sticky rice as soft power is a good idea as it is considered one of the world’s 50 best desserts.

She said the Commerce Ministry is focusing on using soft power to promote trade in line with the Creative Economy concept. She added that the ministry is willing to promote this soft power.

Thailand exported sticky rice and mangoes worth more than 7.5 billion baht last year, according to the Department of International Trade Promotion.

Thailand exported 150,570 tonnes of sticky rice worth THB3.10 billion in 2021 and 29,312 tonnes worth THB594.56 million in the first two months of this year. The country’s main sticky rice export markets are China, US, Laos, Vietnam and Japan.

Meanwhile, Thailand exported mangoes worth THB4.44 billion last year, of which THB2.93 billion were fresh mangoes and THB1.50 billion were canned mangoes.

The country exported mangoes worth THB403.51 million in the first two months of this year, of which THB177.96 million were fresh mangoes and THB225.55 million were canned mangoes.

Thailand’s top 10 mango export markets are Malaysia, South Korea, Japan, Myanmar, Laos, Singapore, Russia, Vietnam, United Arab Emirates and China.

Published : April 18, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014667

Over the years the demand for durian has been exceptionally high, especially in China where Thai durians are always in demand. But the Covid outbreak led to many restrictions on import of goods into mainland China, and durian farmers are facing the heat of these policies.

The Nation Thailand spoke to Sanchai Puranachaikere, president of the Thai Fresh Fruit Traders and Exporters Association, on the problems arising from China’s zero-Covid policy.

“We still have no clue in which direction we should go because China has a zero-Covid policy. Which means, there can be no traces of Covid infection on the durian at all. In reality, it’s impossible because zero Covid means not ignoring even dead vestiges of the virus,” says Sanchai.

“Due to China’s strict Covid restrictions on imports, we are facing problems. Thai goods or goods from any other country imported into China will have to be tested for Covid.

“The testing process cannot be hurried, it takes time. Some Customs offices can only check 50 containers out of some 200 containers. But those 200 containers aren’t only from Thailand. So the Customs officials might be able to check 200 containers. But they may have up to 500 containers. So the containers that can’t make it now become a part of 1,000 containers in the queue.”

These underlying issues are likely to peak in May and the beginning of June, in just around 45 days, when popular Thai fruits such as durian and mangosteen are ripe. This might increase the number of containers to about 700-800.

But if strict Covid restrictions in China are not resolved, the burden might be too hard to bear for Thai exporters, he said.

Sanchai added that “The problem with fruit prices is when it can’t be exported, the fruit becomes ripe and people can’t buy it. So the question is which direction do we go? If there is a delay in the beginning, we can encourage Thai people to consume more of these fruits, or we can process it into products. However, if there’s huge supply we don’t know how the problem can be resolved if the Covid issue in China is not solved. Some 60-70 per cent of Thai fruit is exported to China, while 20-25 per cent are eaten by Thais and no more than 10 per cent are exported to neighbouring countries.”

Despite the obstacles, Thai exporters in Chantaburi province are still finding a way to be Covid-free. They’ve started the GMP+ in Chanthaburi, working with government officials and the public health sector to help create bubbles and collective measures to prevent Covid. They are hoping that these measures could help ease the policies in importing Thai fruits into mainland China.

But will China ease its zero-Covid policy in May? Because if it doesn’t, that would mean 60-70 per cent of Thai durians would be left waiting at Customs in mainland China, leaving them ripe and maybe inedible, Sanchai said.

Published : April 18, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014653

The Finance Ministry said on Monday that it has lowered Thailand’s growth forecast for 2022 to 3 to 4 per cent from its earlier 3.5 to 4.5 per cent prediction.

Finance Minister Arkhom Termpittayapaisith said the estimate was being reduced because the country’s economy has been hit by several factors. However, he said, the country will still enjoy sustainable economic growth compared to last year.

“There will be a reduction in the range but the average growth forecast will remain at 4 per cent,” Arkhom explained. “If our economy is badly hit, then GDP may go down to 3 per cent. Either way, growth will be continual, which is stronger and better than fast growth, which can slow down later. We are confident we can reach the target of 3 to 4 per cent.”

The minister said the government was also looking into how the price of animal feed and fertiliser can be brought down to help farmers.

“The Finance Ministry is waiting for reports from the Agriculture and Commerce ministries, so we can come up with new tax measures to help farmers,” Arkhom said.

He added that his ministry will also ensure the tax measures really benefit farmers, not just large corporations.

Arkhom added that the factors contributing to economic growth in the second half of the year will be government spending and exports.

He said the Customs Department reported that exports and imports showed a growth of about 12 to 15 per cent in the first quarter.

Arkhom added that though the Thai National Shippers’ Council has forecast a 5 per cent growth in exports, the Finance Ministry wants to push it to 10 per cent by clearing bottlenecks like tax refunds for exporters.

The finance minister added that the baht has dropped when compared to 2020 and 2021, and though this bodes well for exports, it is affecting imports.

Arkhom said the weaker baht is also making it tough for Thailand to reduce retail oil prices in the country to match the drop in global prices.

He said the Finance Ministry and the Bank of Thailand would work in tandem to stabilise the currency’s value and prevent its fluctuation from affecting the business sector.

Published : April 18, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014650

The Stock Exchange of Thailand (SET) Index is expected to fall to between 1,665 and 1,670 points on Monday due to lack of positive sentiment.

Krungsri Securities said the index would be pressured by uncertainty over the US Federal Reserve’s move to shrink its balance sheet and raise the interest rate to deal with inflation.

The prolonged Russia-Ukraine conflict will also cause a drop in foreign fund flows, it added.

“However, mass-buy ups of stocks that gain specific positive sentiment will help the index rebound,” Krungsri Securities said.

It recommended the purchase of the following as an investment strategy:

• PTTEP, TOP, IVL, SPRC and BCP would benefit from the rising oil price.

• AOT, AAV, BA, MINT, CENTEL, ERW, CPN, CRC, HMPRO, CPALL, MAKRO, AMATA and WHA would benefit from countries reopening.

• BDMS, BH, INTUCH, ADVANC, BTS and BEM, which can tolerate market volatility.

The SET Index closed at 1,675.49 on Tuesday, down 2.97 points or 0.18 per cent. Transactions totalled 54.28 billion baht with an index high of 1,678.30 and a low of 1,669.36.

The index was closed from Wednesday to Friday last week for Songkran.

Published : April 18, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014644

The baht opened at 33.62 to the US dollar on Monday, strengthening from the 33.64 closing on April 12.

The currency is expected to move between 33.55 and 33.75 during the day and between 33.30 and 33.80 during the week, Krungthai market strategist Poon Panichpibool said.

He believes the baht may swing sideways unless a new factor comes in. Poon said the baht is still supported by the sale of gold, but may weaken if investors sell off their Asian assets on the back of worse-than-expected news about the Chinese economy.

He suggested monitoring the direction of foreign investments, as they may fluctuate based on Thailand’s Covid-19 situation.

Poon said the baht’s resistance level will hover at 33.70 to 33.80, at which point exporters would offload the dollar. Meanwhile, importers will wait to buy when it dips to 33.30.

With high volatility in the currency market, businesses should use hedging tools like options to manage risks, he said.

He also said the strengthening of the dollar will be limited as the market has already acknowledged the US Federal Reserve’s sign to hasten using a tighter monetary policy.

He added that only the demand for safe assets will help the dollar to strengthen. The greenback will remain stable if the market is not heavily closed to risks as it waits for reports from listed companies and development in the Russia-Ukraine situation.

Published : April 18, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014511

The Finance Ministry ordered five government banks to assist debtors with non-performing loans (NPLs) so they can repay their debts on time.

The five banks are the Bank for Agriculture and Agricultural Cooperatives (BAAC), Government Savings Bank (GSB), Government Housing Bank, Small and Medium Enterprise Development Bank and the Islamic Bank of Thailand.

Finance Minister Arkhom Termpittayapaisith said the GSB and BAAC have the highest NPLs among the five as they have helped a number of debtors.

He said the government is ready to pay compensation to government banks if their NPLs have risen due to government policies.

“We will not let government banks spend all their money to help debtors as they must reserve cash in line with the Bank of Thailand rules and maintain liquidity similar to commercial banks,” he said.

Arkhom said a variety of methods, such as granting debt moratorium and launching projects to generate income among debtors, will enable them to repay their debts as usual.

He provided an example, saying that the BAAC has granted loans to 10 million debtors with NPLs to generate income from additional occupations such as growing vegetables.

“This move may make NPLs rise, but government banks must know their customers, not just the amount of their debt but also their problems,” the minister said.

Farmers in some communities have set up financial institutions to enable members to repay their debts at low-interest rates, he added.

Published : April 13, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014460

Finance Minister Arkhom Termpittayapaisith said on Monday that the ministry will end three decades of waiver and start collecting financial transaction tax on sales of stocks.

Arkhom said the timing was right for the ministry to end the tax waiver because the stock market has expanded a lot and growth has continued even during the Covid-19 crisis.

He said the tax will be sales tax like in foreign stock markets and stock sellers will have to pay at the rate of 0.1 per cent on a monthly basis.

He said stock brokers will have to report monthly sales to the Revenue Department for tax evaluation.

The Finance Ministry expects to receive over THB10 billion from stock sale taxes this year.

Arkhom said the Finance Ministry did not have to make new regulations for collecting the stock sales tax because the ministry has already had a law whose enforcement had been suspended.

“In the past, we waived the tax to support the market’s growth,” Arkhom said.

“Now, the market is growing while the government is still shouldering the tax burden for the stock traders. The support must have a time limit. It’s like we supported the auto industry. After the industry enjoyed growth, the manufacturers had to start paying corporate taxes.”

Arkhom said the ministry will inform the Stock Exchange of Thailand (SET) in advance before it would start collecting the tax.

He said the ministry has been consulting with the SET, brokers and the Federation of Thai Capital Market Organisations about the tax collection all along.

“At first, the market did not agree with the idea but later they understood. They realised that it could be worse if we collected capital gains taxes,” Arkhom said.

He added that there would be no problem in meeting the revenue target and the ministry expected to receive 5 per cent more revenue from state enterprises.

Published : April 12, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014450

The Stock Exchange of Thailand (SET) Index is expected to fall to between 1,670 and 1,675 points on Tuesday amid uncertainty over the US Federal Reserve’s move to curb inflation, Krungsri Securities said.

Citing FedWatch, it said the Fed would raise the interest rate by 0.50 per cent during meetings in May and June.

“FedWatch also expects that the interest rate will rise to between 2.50 and 2.75 per cent this year,” Krungsri Securities said.

It added that foreign fund flow volatility and mass sell-offs of stocks to cope with risks during the Songkran holiday would pressure the index.

It also advised investors to follow the US inflation report as consensus expection is that general and core inflation in March will rise to 8.3 per cent and 6.6 per cent, respectively.

It recommends the purchase of the following as an investment strategy:

• GPSC, BGRIM, SCGP, SCC and EPG would benefit from falling oil price.

• AOT, AAV, BA, MINT, CENTEL, ERW, CPN, CRC, HMPRO, CPALL, MAKRO, AMATA and WHA would benefit from countries reopening.

• BDMS, BH, INTUCH, ADVANC, BTS and BEM which can tolerate market volatility.

The SET Index closed at 1,678.46 on Monday, down 7.54 points or 0.45 per cent. Transactions totalled 62.75 billion baht with an index high of 1,685.95 and a low of 1,675.95.

Published : April 12, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014449

The baht opened at 33.65 to the US dollar on Tuesday, weakening from Monday’s close of 33.58.

Krungthai Bank market strategist Poon Panichpibool predicted the Thai currency would move between 33.55 and 33.75 during the day.

Poon expected the baht would continue to swing sideways under pressure from the strengthening dollar after the US Federal Reserve signalled a tightening of monetary policy, as well as demand for safe assets in the short term.

He advised keeping a close watch for possible short-term foreign outflows from Thai stocks. Thai bonds may also be hit by foreign outflows following the rise in US bond yields, he added.

However, moves to sell gold after the price reached its key resistance level of 1,950 dollars per ounce would support the baht and limit any weakening.

Exporters are selling the dollar in a range between 33.70 and 33.80. Poon said the baht would likely not weaken past that point unless the market goes heavily risk-off.

Amid high volatility in the currency market, businesses should use hedging tools such as options to manage risks, he added.

Published : April 12, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014415

The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,675 and 1,695 points on Monday amid uncertainty over the US Federal Reserve’s tighter monetary policy to curb inflation, Krungsri Securities said.

It said the Fed’s move to shrink its balance sheet and raise the interest rate had caused a drop in foreign fund flows.

“Meanwhile, the falling crude oil price and lack of progress in Russia-Ukraine peace talks would pressure the index,” Krungsri Securities said.

It recommends the purchase of the following as an investment strategy:

• GPSC, BGRIM, SCGP, SCC and EPG would benefit from the falling oil price.

• AOT, AAV, BA, MINT, CENTEL, ERW, CPN, CRC, HMPRO, CPALL, MAKRO, AMATA and WHA would benefit from countries reopening.

• BDMS, BH, INTUCH, ADVANC, BTS and BEM which can tolerate market volatility.

The SET Index closed at 1,686.00 on Friday, up 3.59 points or 0.21 per cent. Transactions totalled 70.88 billion baht with an index high of 1,690.58 and a low of 1,678.07.

Published : April 11, 2022

By : THE NATION