HAY x The Standard, Hua Hin collaborate with Norse Republics to reveal Scandinavia’s most stylish furniture company

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https://www.nationthailand.com/pr-news/business/40014935


(PR News) From April 29 to May 16, guests are invited to chill out on the pure shores of Hua Hin, discover HAY’s cutting-edge collections and enjoy a series of upbeat events, guest mixologists, DJ parties and alfresco dinners.

HAY x The Standard, Hua Hin collaborate with Norse Republics to reveal Scandinavia’s most stylish furniture company

The Standard, Hua Hin, Thailand’s newest and most stylish resort where chic beach vibes meet mid-century style, constantly strives to showcase the world’s most cutting-edge concepts and contemporary designs. In its latest creative collaboration, this avant-garde resort will join forces with HAY, the innovative Scandinavian furniture company, and NORSE Republics, Thailand’s largest Nordic design distributor, to exclusively reveal its iconic Palissade Park and Balcony Collections to lifestyle-conscious guests from all around the world.

“HAY x The Standard, Hua Hin” is much more than just a product exhibition however; running from April 29 to May 16, 2022, this will be a fully immersive, interactive outdoor experience that brings people together and provokes conversation in a meaningful way.

Guests will be invited to “Say HAY” on April 29 with an insightful “Standard Talks” session in the main courtyard, featuring moderator Rewat Chumnarn, former Editor-in-Chief of Wallpaper Thailand, and guest speakers Veekrit Palarit, Founder & Managing Director of NORSE Republics, and Jongkol Palarit, Fashion Director of Vogue Thailand.
 

HAY x The Standard, Hua Hin collaborate with Norse Republics to reveal Scandinavia’s most stylish furniture company

This will be followed by a “Music & Mixology” cocktail party at the Lido Bar, The Standard’s poolside lounge, where Bangkok-based DJ Rhunrun will spin upbeat tunes, including hip hop, garage, electronica and dance beats. As day turns to night and the sun sets over Hua Hin, guests can sit back and sip cool cocktails, handcrafted by our expert mixologist. Two-hour “Designed to Dine” aperitivo evenings will be held on April 29 & 30 and May 7 & 14, priced at THB 1,500 net per person, and guests can dine in style on the Top Pool Lawn.

Every weekend at The Standard, Hua Hin will be enlivened by “Music & Mixology” events featuring a guest DJ, resident DJ and guest mixologist at the Lido Bar, which overlooks the soft sandy shore, and special surprise moments will be hosted every weekend afternoon at the main courtyard.

Throughout all 18 days, guests will able to experience HAY’s new Palissade Park and Balcony Collections. Conceived by Ronan & Erwan Bouroullec, the Paris-based design brothers, the Palissade Park Collection features outdoor benches and other flexible seating that is defined by its symmetry and simplicity. The Balcony Collection meanwhile, has also been crafted by the Bouroullec Brothers and comprises an assortment of chairs, tables and benches with laser-welded holes to soften the aesthetic, provide extra stability and deliver a distinctive appearance.
 

HAY x The Standard, Hua Hin collaborate with Norse Republics to reveal Scandinavia’s most stylish furniture company

The “HAY x The Standard, Hua Hin” can be enjoyed by in-house guests, outside visitors and local residents alike. For those who wish to combine the experience with a stay at The Standard, Hua Hin, a special room package has been unveiled which includes accommodation and an aperitivo evening by the pool for two people, plus invitations to The Standard’s social events and discussions, including Standard Talks, surprise moments in the park, DJs sets and cocktail parties. For more information, please visit www.standardhotels.com/hua-hin/specials/hit-the-hay


“At The Standard, we’re on a mission to showcase the finest contemporary art and culture from around the world. Scandinavia has grown a reputation as being the home of sharp, smart furniture design, and HAY and NORSE Republics are at the forefront of this scene. Our ‘HAY x The Standard, Hua Hin’ tie-up will not only give our guests the chance to see HAY’s latest outdoor collections; it will let them interact with the company and discover what sets them apart, while also meeting like-minded people in a stunning seafront setting,” said Mai Vejjajiva Timblick, Chief Creative & Culture Officer for Standard Asia.

Founded by Mette and Rolf Hay, HAY works with top designers from all over the world to produce high-quality furniture and make it accessible to a wider audience. Each collection derives inspiration from three sources: art, architecture and fashion. The company aims to keep its finger on the pulse and reflect the needs of modern life, which blurs the boundaries between personal and professional space.

“We believe that good design makes people move, makes them feel. It’s not just a pretty look but a fully interactive, multi-sensoryuser experience. At NORSE Republics, we see ourselves not only as a leading Scandinavian home furnishing provider, but also as a creator of meaningful moments for our community. We want to embrace the power of good design and make it accessible to a larger audience” said Veekrit Palarit, Founder & Managing Director at NORSE Republics.
 

HAY x The Standard, Hua Hin collaborate with Norse Republics to reveal Scandinavia’s most stylish furniture company

“With the pandemic coming to an end, the outdoor life is becoming more significant. There is no place like The Standard, Hua Hin; it is an utterly chic weekend destination that bringstogether like-minded guests from all over the world. With the splash of HAY’s newest designs, our ‘HAY x The Standard, Hua Hin’ collaboration will be a wholly unique experience,” he added.

Newly-opened in December 2021, The Standard, Hua Hin brings a cool Miami vibe to Thailand’s golden gulf coast. With 199 rooms, suites and villas, the mid-century style Lido pool and bar, a beachfront Thai izakaya restaurant and juice café, this chic seafront hotel is a haven for curious global explorers.

The Standard hotels are present in the most desirable of destinations, from Miami Beach to the Maldives, London to New York, now Hua Hin and soon Ibiza and Bangkok.

Connect with the hotel via:
Facebook: The Standard Hua Hin
Instagram/Line: @thestandardhuahin
Check out a full lineup of activities: www.standardhotels.com/hua-hin/happenings/say-hay
 

Published : April 26, 2022

By : THE NATION

AP Thailand announces brand promise that empowers everyone to live and enjoy life on their terms

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https://www.nationthailand.com/pr-news/business/40014930


(PR News) AP Thailand, the country’s leading property developer, is in its 31st year of operation with ‘EMPOWER LIVING’ as the main vision guiding its existence, said Sappasit Foongfaungchaveng, Senior Director of Brand Strategy, AP (Thailand) Public Co., Ltd. on Monday (April 25).

AP Thailand announces brand promise that empowers everyone to live and enjoy life on their terms

“To reinforce AP Thailand’s business commitment, the company has announced a brand promise under the tagline ‘Cheevit Dee Dee Tee Lueak Eng Dai’ which represents its long-term vision as a company that exists to create and provide the support that enables people to live and enjoy life on their terms through every aspect of living right now and in the future,” he said.

“For the next step of brand building for AP with its vision to EMPOWER LIVING, I think a good brand must have a clear social standpoint. It has to have the courage to say something new, one that gives society the right answer, that helps society in the right context at a time when society is expecting something, like waiting for the pandemic to be over or for all the problems to go away or the happiness of old to return,” he added.

“The duty of a good brand should create value and some meaning for life rather than just looking to sell the goods. That’s how our new brand promise originated under the tagline ‘Cheevit Dee Dee Tee Lueak Eng Dai’. It’s great life in a new context of 2022. It’s great life our customers choose for themselves. Our job is to offer things for our customers to choose what they want on their own terms,” said Sappasit.

AP Thailand announces brand promise that empowers everyone to live and enjoy life on their terms

It is the first time in ten years that AP has officially announced its brand promise.                        

‘Cheevit Dee Dee Tee Lueak Eng Dai’ will be embedded in the brand’s communication of its position. In addition to its expectation for consumers to be aware and understand the meaning of its EMPOWER LIVING vision better, the company also wants AP to be remembered as the brand that empowers everyone to live and enjoy life with the things they choose on their terms. The bigger goal is to ensure that AP becomes No. 1 in the hearts and minds of consumers for the long term. 

The strategy that will enables AP to achieve that goal consists of three components.

1.  HAPPINESS HAS NO BLUEPRINTS. AP responds to all life aspirations. It is more than a home builder. What it does is create a new layout of life with a conviction that happiness has no blueprints and everyone can choose the happiness of their choice through 16 real estate brands in the AP group both single deatched homes, townhomes and condominiums that covers all segments as much as possible.

AP Thailand announces brand promise that empowers everyone to live and enjoy life on their terms

2.  INNOVATION FROM YOU FOR YOU. The main process in creating design innovation is by encouraging all employees to pursue DESIGN THINKING that attaches importance to finding unmet needs of customers and understand them through Empathy Design Approach in order to develop the right products and services that meet the aspirations or hidden desires of our diverse customers.

3.  COMMUNITY OF THE FUTURE. By being a part that helps to empower society, which is more than delivering happiness and good life as developer to AP residents, the company has built a good community and in the process has helped society better through a wide range of social campaigns it has carried out continually e.g. AP Unusual Football Field, the original model of football fields in unconventional shapes in the Klong Toey community which was awarded the Grand Prix Prize at Cannes Festival as well as was recognised by TIME magazine as one of the 25 inventions of the year. 

AP Thailand announces brand promise that empowers everyone to live and enjoy life on their terms

“I think happiness that society chooses for you, no matter how perfect is not as full or complete as what you choose for yourself. Society may view your choice of happiness as incomplete or imperfect, but if you are the one that chooses it, it’s full and complete happiness for you. What we want to communicate is the important happiness of living is the one you have to choose for yourself,” Sappsit added.

AP Thailand is ready to be the best choice for everyone with its portfolio of single deatched homes, condominiums and townhomes under 16 brands and plans for nationwide outreach with readily available 175 projects nationwide worth over THB136,000 million.  

AP Thailand announces brand promise that empowers everyone to live and enjoy life on their terms

Published : April 26, 2022

By : THE NATION

Baht might test new resistance level of 34.40: market strategist

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https://www.nationthailand.com/business/40014961


The baht opened at 34.28 to the US dollar on Wednesday, the highest level in five years, after surging to close at 34.25 on Tuesday.

Baht might test new resistance level of 34.40: market strategist

The currency is expected to move between 34.20 and 34.40 on Tuesday, Krungthai Bank market strategist Poon Panichpibool said.

Poon said the risk-averse market coupled with the Covid-19 situation in China could add more downward pressure on the baht.

The Thai currency has weakened past the expected resistance level, with both exporters and importers unsure of when to carry out transactions, so it might be volatile and weaken to test the new resistance level of 34.40, he said.

Meanwhile, gold purchases are rising as investors want to possess safe assets. This is adding pressure to the baht.

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

Published : April 27, 2022

By : THE NATION

Thai and Chinese experts seek closer bilateral cooperation on fintech

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https://www.nationthailand.com/business/40014960


A group of Thai and Chinese experts, academics and entrepreneurs made a strong case for enhancing mutual support and collaboration to improve the fintech industry and help sustain growth in the digital economy era.

Thai and Chinese experts seek closer bilateral cooperation on fintech

Ben Shenglin, dean of Zhejiang University International Business School, said during his opening speech that fintech is playing an increasingly major role in the current economy. In these few years, both government and private sectors from China and Thailand have progressively built the system and infrastructure needed for the development of the digital economy. Fintech is one of those efforts.

However, to sustain the growth of fintech, there is more work to be done to improve the overall ecosystem including technology, innovation, security and regulation. And one of the key success factors is more deep collaboration and data sharing between countries, he said.

“The aim of today’s forum is to discuss and find ways where both China and Thailand can work together to develop not only for the two countries but also for the whole region,” Ben Shenglin said.

Yang Hong, a former People’s Bank of China official, said Beijing has made fintech one of the pillars of the national development plan for the next three years. Although many things in the industry have improved, there are new challenges to handle, especially in security, privacy and regulation aspects.

Michael Sung, a professor at Zhejiang University International Business School, pointed out that working together means the chance to discover proper solutions. Both China and Thailand have to come up with high-quality technology, advanced affordable innovation, transparent regulation and a fair, accessible ecosystem for all.

Chonladet Khemarattana, president of Thai Fintech Association, accepted that the Thai fintech industry is a few steps behind when compared with China. The pain point is that the country’s digital development is only concentrated in urban areas and is with the big operators more than the smaller entrepreneurs. And fintech appears to be a key solution to that obstacle.

He added that apart from international cooperation and support, Thailand now needed to educate people about financial and digital literacy. Thai citizens have to be well-prepared for fintech and digital technology.

Thai and Chinese experts seek closer bilateral cooperation on fintech

Archari Suppiroj, director of Fintech Department at the Bank of Thailand (BOT), said that in the past few years the government has focused on strengthening digital infrastructure along with educating people in order to add more players to help support the country’s competitiveness in the digital economy.

As for the cooperation with China, Archari said that BOT has some plans to launch a pilot testing programme of Central Bank Digital Currency (CBDC) in which China, as one of the world’s leading players in CBDC development and application, can help Thailand with some concrete operations.

After running a business in Thailand for many years, Yunna Wang, country leader in Thailand at Lianlian International, said Thai fintech has improved a lot but there are more areas needing improvement, particularly in the stability of infrastructure, data digitalisation and security aspect.

Pawee Jenweeranon, visiting scholar of ZIBS & Representative from the Faculty of Law, Thammasat University, added that improving fintech would help Thailand break out from a middle-income nation to a high-income country.

“We require an advanced ecosystem of digital, diffusion of technology, great foundation in infrastructure, supportive measures for the digital economy and accessible training programme for talents,” Pawee said.

Published : April 27, 2022

By : THE NATION

Thai exports jump by 19.5% in March – highest in 30 years

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https://www.nationthailand.com/business/40014944


Commerce Minister Jurin Laksanawist was upbeat about the country’s export growth, saying the 19.5 per cent year-on-year surge in March was the highest in 30 years.

Thai exports jump by 19.5% in March – highest in 30 years

Jurin, who also doubles as a deputy PM, told the press on Tuesday that exports in March were worth US$28.86 million or about 922.313 million baht. This marked a 19.5 per cent growth compared to the same month last year and was the biggest expansion since 1991.

At the end of the first quarter, Thailand’s export value stood at $73.6 million or 2.4 billion baht, which was 14.9 per cent higher compared to the same period last year.

The minister credited the growth to cooperation between the Commerce Ministry and the private sector as well as the normalisation of Thailand’s ties with Saudi Arabia.

The top 10 markets with the highest exports in March were:

• Switzerland: 2,864.7%

• South Asia: 36.4%

• Asean: 34.8%

• Middle East: 29.5%

• United States: 21.5%

• United Kingdom: 14.5%

• South Korea: 14.5%

• Taiwan: 9.4%

• Canada: 9.2%

• European Union: 6.9%

Published : April 26, 2022

By : THE NATION

PTG joins hands with DTI to help farmers in veggies-and-fuel campaign

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https://www.nationthailand.com/pr-news/business/40014831


PTG has joined hands with the Department of Interior Trade (DIT) for a campaign to support farmers.

PTG joins hands with DTI to help farmers in veggies-and-fuel campaign

PTG has joined hands with the Department of Interior Trade (DIT) for a campaign to support farmers. Customers who fill up with 300 baht of fuel or 100 baht of LPG will get a pack of onions, shallots or garlic at 657 participating PT gas stations in 25 provinces across the country. The campaign also aims to help people who are suffering hardship from increased living costs.

PTG executive vice-president Rangsun Puangprang said the company joined hands with DIT to purchase 90 tonnes of onions, shallots and garlic from farmers in the North as the current price is low. The move will relieve farmers’ hardship by enabling them to sell their produce at a fair price all season long while also stabilising the price of agricultural products. PTG will hand out 300,000 packs of this produce to PT Max Card holders who fill up with fuel or LPG at the participating stations.

PTG joins hands with DTI to help farmers in veggies-and-fuel campaign

Onions, garlic and shallots can be used to cook nutritious meals are known to increase appetite, help treat colds, treat hypertension, help prevent heart disease, and reduce fat and cholesterol in blood vessels.

The campaign will also combat cost of living problems at a time when people are affected by the Covid-19 situation.

The promotion will be held from Friday to Sunday or until products are run out, and be limited to one pack per customer.

PTG joins hands with DTI to help farmers in veggies-and-fuel campaign“PTG is ready to join hands with the government sector to help stabilise the Thai farming sector while supporting every manufacturing process and increasing various selling channels so farmers can rely on themselves and live a good life sustainably.

“Moreover, it will increase the price and value for these three products while enabling people to consume high-quality and safe agricultural products to reduce the oversupply and low price problems via PT gas stations,” Rangsan said.

PTG joins hands with DTI to help farmers in veggies-and-fuel campaign

“PTG is ready to join hands with the government sector to help stabilise the Thai farming sector while supporting every manufacturing process and increasing various selling channels so farmers can rely on themselves and live a good life sustainably.

“Moreover, it will increase the price and value for these three products while enabling people to consume high-quality and safe agricultural products to reduce the oversupply and low price problems via PT gas stations,” Rangsan said.

Meanwhile, DIT director-general Wattanasak Sur-iam thanked PTG for supporting onion, shallot, and garlic farmers in the North.

DIT has used the “Omkoi Model” to make contracts with buyers in advance so farmers will have security, have a market to sell their produce, and know the price in advance to stabilise prices across the growing season this year

Published : April 26, 2022

Bitkub announces BKC Oracle an official project for blockchain development

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https://www.nationthailand.com/pr-news/business/40014920


Bitkub Blockchain Technology on Monday (April 25) introduced BKC Oracle as an official project for blockchain developer on Bitkub Chain, a network that connects the data from off-chain to smart contract and provides a secure information to support advanced smart contracts on blockchain.

Bitkub announces BKC Oracle an official project for blockchain development

BKC Oracle is an important tool for developing smart contracts or dApps that bridges the data from off-chain to on-chain via smart contracts. This allows blockchain developers to connect the secure and up-to-date data on Bitkub Chain infrastructure more easily. Furthermore, BKC Oracle is a project developed by Loremboard team via the support from Bitkub Venture, a venture capital company under Bitkub Capital Group Holdings Co., Ltd.

BKC Oracle will be the main infrastructure on Bitkub Chain connected the data from the real world to blockchain that supports blockchain developers to use the tools and platform more efficiently. The prominent usage example is “Data Feeds”, the leading feature on BKC Oracle that can extract cryptocurrency price data from off-chain in a real time within a couple minutes.

Bitkub announces BKC Oracle an official project for blockchain development

In addition, BKC Oracle has a highly secure and flexible infrastructure to facilitate blockchain developers on Bitkub Chain’s ecosystem with the following features:

  1. Reliable and secure – BKC Oracle can securely connect the data from Bitkub Exchange to smart contract by trusted nodes, data and cryptographic proofs
  2. High speed transaction – BKC Oracle provides high data extraction throughput rate (an update for only per 1 to 2 minutes)
  3. Stability and safeguard backup – BKC Oracle can provide the steadiness of data extraction on the system with supporting backup

For latest updates on Bitkub Chain visit https://www.bitkubchain.com/ or Facebook @bitkubchainofficial 

Published : April 26, 2022

By : THE NATION

Development of Thai hemp industry can be expedited and thriving

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https://www.nationthailand.com/pr-news/business/40014907


Top int’l expert group is here to make Thailand a leading regional player in the field

Development of Thai hemp industry can be expedited and thriving

Thailand has all it takes to evolve into Asia’s leading hemp centre to tap into the US$15.8 billion in global hemp-related businesses estimated over the next five years.

At least five nascent supply chains are being spurred by the hemp and cannabis legalisation in Thailand, namely, beverages, food, medicines and supplements, apparel, and personal care products.

The plant also presents the kingdom with a significant opportunity to add new impetus to its medical tourism drive, with foreigners and locals seeking out affordable, hemp-cannabis related healthcare treatments.

But the route to realise the full potential remains bumpy as the country still face hurdles including the needs to developing new strains of hemp that better meet market demands and overcoming challenges surrounding the legality of some business activities.

The ultimate challenge for Thailand to put its hemp-related industries to the global scale is to earn an international global recognition of the entire product development process that must be based on scientific principles, research and development by means of prioritising safety and effectiveness.

For that reason, the Global Hemp Innovation Collaboration Centre has been established in Thailand to help guiding the country towards achieving that aspiration.

More specifically, the centre’s mission is to bring science-based know how and experience from abroad to spur short-cut and fast-track development in Thailand, explained Dr. Aimon Kopera, founder and CEO of the US-based Geneomics Global.

Development of Thai hemp industry can be expedited and thriving

The Thai scientist has teamed up world’s leading researchers in the field to incubate Thai entrepreneurs and their products to gain excellence, and ultimately establishing Thailand as Asia’s hemp and cannabis hub.

“Geneomics Global provides end-to-end solutions by collaborating with local and global partners,” she noted.

The centre, located in Chiang Mai and operating under the name Geneomics Global Co Ltd, is the first facility of its kind in Thailand to offer vertical integration on the hemp-cannabis ecosystem.

It is the first Geneomics centre outside the US where there are three sites in Oregon, Hawaii and California.

The Thai centre will be able to research and develop formulations for a diverse range of products, including food and beverages, dietary supplements, hemp fibre-based materials, and even animal feed.

Dr. Aimon, pronounced Aim On, said once Thailand has gained global recognition, its four hemp-cannabis-related industries combined, namely agriculture and food, energy and bio-chemicals, medicine and health, and tourism, would be able to contribute 21% of its GDP and creating more than 16.5 million jobs, citing projections from the National Food Institute, Ministry of Industry.

When compared with countries with a well-developed hemp industry, Thailand has been slow to the game given its high quality natural hemp.

“It is imperative for all parties concerned in Thailand to focus on using science-based knowledge for development,” she said, noting that the country has had fundamentals required to catapult to become Asia’s prime hemp and cannabis centre.

Dr. Aimon called on leaders in Thailand to provide supports to the endeavour.

Development of Thai hemp industry can be expedited and thriving

She recently led a team of world-class hemp and cannabis experts to the Cannabis International Conference 2022 Thailand to drive home the country’s ability to expedite its industry to regional importance.

The team has also conducted field research at sites in Northern, North-Eastern, Eastern and Central parts recently.

At the forum, the team exchanged knowledge and experience with partners in the government and private sectors to drive Thailand’s national hemp and cannabis strategies.

It also announced the success of research projects conducted in collaboration with four hemp and cannabis experts from various fields.

Prof. Dr. Jay Noller, a hemp- cannabis expert from the Oregon State University who is a team member, also revealed that studies have found compounds from hemp can work against coronavirus.

At a meeting with officials of Thailand’s Ministry of Public Health, he noted that he pointed out three opportunities related to hemp for Thailand.

First, Thailand can be the first country to pioneer integrated hemp-cannabis production.

Secondly, Thailand can leverage hemp-cannabis for its medical tourism.

Third, the country can produce hemp-cannabis effectively to increase trade opportunities.

Meanwhile, Dr. Gerard Rosse, an expert of cannabinoid extraction and purification, stated that the herbal medicine, which is popular among many Thai people, provides a basis for Geneomics Global to enhance the potential of hemp and cannabis as a source of herbal treatment.

“I believe that the use of technology, the right knowledge and knowledge of Thai herbal application will surely make Thailand a leader in this regard,” he added.

Dr. Billy Morrison, an expert on cultivation and product development technology, said he found that Thai people are very creative, able to learn to use technology quickly and making adjustments to fit the context that occurs in different situations.

“Therefore, we are confident that we will be able to make Thailand a leader for sure,” he concluded.

PR News

Published : April 25, 2022

Slumping baht under pressure after breaching 34/dollar mark

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https://www.nationthailand.com/business/40014925


The baht opened at 34.07 to the US dollar on Tuesday, weakening further after breaching the key 34/dollar level to close at 34.04 on Monday.

Slumping baht under pressure after breaching 34/dollar mark

The currency is expected to move between 33.95 and 34.15 on Tuesday, Krungthai market strategist Poon Panichpibool said.

Poon said the risk-averse market and Covid-19 situation in China could add more downward pressure on the baht.

He projected a key resistance level at 34.15 to 34.20 per dollar. If the baht weakens past 34.20, importers might scramble to buy dollars which would trigger significant further weakening of the Thai currency, he added.

Poon advised close monitoring of foreign investors amid a lull in foreign outflows after sell-offs of Thai assets were triggered by heavy increases in the US and Thai 10-year bond yields.

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

Published : April 26, 2022

By : THE NATION

Truck operators threaten to rally if diesel price cap lifted

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https://www.nationthailand.com/business/40014912


The Land Transport Association of Thailand is threatening to hold rallies outside soon if the government lifts the 30-baht price cap on diesel.

Truck operators threaten to rally if diesel price cap lifted

Apichart Prairungruang, the association’s president, said on Monday that truck operators who are part of the group will show up at Government House to submit a letter to PM Prayut Chan-o-cha demanding that the 30-baht price cap continues beyond April 30.

The Energy Ministry has said the Oil Fund, which is used to subsidise retail diesel prices, is running out so the subsidy must be lifted at the end of this month.

Apichart, however, pointed out that if the price of diesel were to rise beyond 30-baht per litre, then it would affect all sectors and the public would end up bearing the burden of rising prices. Also, he said, a rise in diesel prices would push up transportation costs.

“Transportation fees will rise by 3 per cent for every baht that is added to the price of diesel,” he said.

He added that truck operators actually want diesel to cost no more than 25 baht per litre, but are willing to accept the 30-baht price tag due to the fallout of the Russia-Ukraine war.

“But we will not be able to tolerate it if the government lets the price go above 30 baht. The government must think twice because the price of oil affects the cost of manufacturing, and subsequently the entire economy,” Apichart added.

Apart from calling on Prayut to delay the lifting of the price cap, the association will also urge him to fire the energy minister and cut the excise tax on diesel to 0.20 baht per litre.

The association will also urge the government to temporarily suspend the use of bio-diesel, as it pushes up the price of normal diesel by 1.5 to 2 baht per litre. Also, he said, the government will be urged to not add the cost of transportation when it sets the price of fuel.

Apichart did not say when the association will stage the planned rally.

Published : April 25, 2022

By : THE NATION