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https://www.nationthailand.com/business/40013132

About 45 per cent of hotels that are still running have just about enough funds to last for three months, a recent survey found.

The survey was carried out on 142 hotels, including those serving as alternative quarantine sites and hospitels, by the Thai Hotels Association in February.

The association’s chairperson, Marisa Sukosol Nunbhakdi, said on Monday that the survey also revealed that 51 per cent of the hotels had suffered a drop in revenue from the previous month. Meanwhile, 49 per cent of the hotels were only able to make 30 per cent of the revenue they had earned before the Covid-19 pandemic. This was the same percentage found in the January survey, Marisa said.

Only 19 per cent of the hotels are now earning half of the revenue they earned before the Covid crisis hit Thailand’s tourism industry, she said, adding that these hotels enjoyed about 40 per cent occupancy last month.

Marisa said room occupancy rates in February rose thanks to the government’s tourism promotion subsidies and also because it resumed the Test & Go scheme at the beginning of the month.

However, she said, there is still a scarcity of foreign tourists compared to pre-Covid times because many foreigners are staying away over fears of the highly-transmissible Omicron variant and the high cost of the mandatory RT-PCR tests.

She said the percentage of hotels operating at a normal level in February was 72 per cent, down from 73 per cent in January.

Marisa added that 3 per cent of hotels in Thailand were still closed in February and that these hotels had been closed for more than six months. However, she added, they should reopen in the second quarter of this year.

The survey also found that only 59.8 per cent of the hotel workforce had returned to the industry.

Published : March 07, 2022

By : THE NATION

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https://www.nationthailand.com/business/40013131

Thailand will head the Asia-Pacific Economic Cooperation (Apec) Safe Passage Taskforce to seek solutions on restoring normal travel between the 21 member countries.

The move to name Thailand as head of the task force was made during the Apec Senior Officials Meeting from February 14-25 in a bid to accelerate economic recovery, Thani Thongphakdi, Foreign Ministry permanent secretary, told Krungthep Turakij on Monday.

Meanwhile, Department of International Economics Affairs director-general Cherdchai Chaivaivid said the group has discussed various aspects of this issue, such as vaccine certificate, safe and sustainable tourism, and extension of the Apec Business Travel Card project, to strengthen travel between Apec economic areas for the long term.

He said Thailand has proposed to create an Apec Information Portal for Safe Passage Across the Region to exchange and update information on travel measures in 21 economic areas and enable checking of travel-related documents.

He added that these proposals were expected to be completed within this year.

“These proposals aim to speed up the reopening of border trade for the benefit of citizens and businesses in the Asia-Pacific region,” he said.

During the meeting, the group also discussed the Free Trade Area of the Asia- Pacific to cope with changes in the economic landscape, such as health, environment and digital transition.

In addition, the group also supported Thailand in proposing the Bangkok Goal to apply the Bio-Circular-Green economy model to create sustainability in Apec.

Published : March 07, 2022

By : THE NATION

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https://www.nationthailand.com/business/40013127

Industry Minister Suriya Jungrungreangkit on Monday said that his ministry will speed up announcements on standards related to production of electric vehicles as part of the goal to make Thailand an EV hub.

Suriya said his ministry is working to realise the policy of making Thailand a key centre for the manufacture of EVs and key parts for EVs, and has so far announced 116 standards related to EV production.

The Industry Ministry also is building the Automotive and Tyre Testing, Research and Innovation Centre to encourage the development and use of zero carbon emission vehicles, Suriya added.

Meanwhile, Banchong Sukreetha, the secretary-general of the Thai Industrial Standards Institute, said the institute this year will announce 19 more standards related to EV production.

The 19 new standards cover electric motorcycles, EV batteries, EVs to be linked to the national power grid and the mobility of EVs, Banchong said.

Other standards include electric motorcycles’ brake system, testing performance of EVs, electric boats, and how petrol vehicles can be modified into EVs, as well as EVs having an automatic parking system, Banchong added.

He said the institute would speed up the drafting and announcing of the new standards, which will be based on international standards.

He said one interesting standard is called Vehicle to Grid, or V2G, which will set standards for recharging of EV batteries and for transferring the stored electricity in the battery back to the power grid.

Published : March 07, 2022

By : THE NATION

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https://www.nationthailand.com/business/40013122

The Thai Rice Exporters Association said recently that the Russia-Ukraine war has not shaken rice exports yet, though rising oil prices may affect the situation in the long run.

Chookiat Ophaswongse, the association’s honorary president, said Thailand exported some 6,000 tonnes of rice to Russia and about 2,000 tonnes to Ukraine last year.

However, he said, the situation may change because wheat exports from Russia have been banned, which may result in pushing up the price of rice and other grains. This may impact orders from potential buyers.

Chookiat added that the sea route from Thailand to key markets in Europe, especially France, and Africa have not been affected because it does not pass Russia or Ukraine. However, the cost of shipping may spike if the price of oil rises above US$100 per barrel. Then, he said, countries may choose to purchase rice from countries that are closer and cheaper than Thailand.

Yet, he said, Thailand may still achieve the goal of exporting 7 million tonnes of rice this year thanks to the Middle East, where each country exports at least 1 million tonnes of rice every year.

Though the Middle East market had slowed down, it began picking up again from the end of 2021.

Meanwhile, Pitak Udomwichaiwat, director-general of the Department of Foreign Trade (DFT), said the department is adjusting its publicity strategy for rice in line with the current situation.

It is planning to launch online campaigns to raise awareness about Thai rice and boost its popularity.

DFT plans to focus on strengthening trade ties with China, Hong Kong, Japan, the Philippines, Malaysia and Singapore.

Apart from holding virtual meetings with potential buyers, the department will also look for ways to deal with Vietnam – Thailand’s No 1 competitor in rice exports.

He added that Thailand’s export sector should do well this year because the container shortage problem is easing, though the cost of shipping is still high.

Plus, he said, the price of Thai rice is still competitive thanks to the exchange rate and will remain so if the currency does not get stronger.

DFT is planning to join international exhibitions and is eyeing the Saudi Arabian market. It has asked Thai diplomats to survey the demand and develop links with key rice exporters in Saudi Arabia.

Pitak said once the Covid-19 situation eases, DFT will take Thai exporters to negotiate deals.

As for government-to-government deals, DFT is waiting to sign a memorandum of understanding with Iraq even though the private sector is already exporting rice to the country.

Published : March 07, 2022

By : THE NATION

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https://www.nationthailand.com/business/40013117

Thailand’s private sector is setting up a working group to monitor the Russia-Ukraine war’s effects, amid concern over a prolonged impact on Thai trade. Meanwhile, the government has agreed to press China to open alternative routes for Thai exports to Central Asia and Europe as shipping costs rise.

Federation of Thai Industries chairman Suphan Mongkolsuthree said the new monitoring group would alert the private sector to closures of airspace, shipping lines and effects of sanctions, Bangkokbiznews reported on Sunday.

The move comes amid concern that the Ukraine-Russia conflict will last for months or even years, taking a heavy toll on the world economy. Severe sanctions imposed on Russia by Western countries and their allies have not been effective in halting the conflict.

A core worry for Thailand is the rising price of oil, which has already exceeded US$110 per barrel and is forecast to slow Thai growth this year.

However, the effects on Thailand’s export sector will be minor – Russia accounts for just 0.38 per cent of Thai exports and Ukraine only 0.04 per cent.

Impacts should be limited to the automotive, processed food, jewellery, and cosmetics sectors, all of which export to Ukraine and Russia.

The Thai Chamber of Commerce (TCC) has expressed worry over shipping.

TCC chairman Sanan Angubolkul said shipping costs are rising as Russia-Ukraine routes close and insurers refuse to cover transport risks. Exporters have been forced to switch to land or rail transport for goods that would normally travel via the affected routes, he added.

Thai National Shippers’ Council chairman Chaichan Chareonsuk urged the government to negotiate with China to open land and rail routes for Thai exports to Central Asia and Europe. The Commerce Ministry said it would ask China to open routes to Central Asia and Europe under World Trade Organisation rules.
 

Published : March 07, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40013110

The Stock Exchange of Thailand (SET) Index is expected to fall to between 1,655 and 1,660 points on Monday amid the ongoing Russia-Ukraine crisis, Krungsri Securities said.

It said plans by the US and European countries to ban oil imports from Russia were resulting in negative sentiment on the index.

“However, a rise in the oil price above US$120 per barrel would help boost the index, especially energy shares,” Krungsri Securities said.

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

• PTT, TOP, SPRC, BCP and BANPU will benefit from the rising price of oil, coal and gross refining margin.

• APURE, SUN, TVO, TWPC, UBE, PERM, BSBM and GLOBAL will benefit from rising commodity prices.

• BDMS, INTUCH, ADVANC and DTAC, which are defensive stocks.

The SET Index closed at 1,671.72 on Friday, down 24.36 points or 1.44 per cent. Transactions totalled 87.71 billion baht with an index high of 1,689.89 and a low of 1,671.70.

Published : March 07, 2022

By : THE NATION

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https://www.nationthailand.com/business/40013108

The baht opened at 32.71 to the US dollar on Monday, weakening from Friday’s close of 32.69.

The Thai currency is expected to move between 32.60 and 32.80 during the day and between 32.40 and 32.90 during the week, Krungthai market strategist Poon Panichpibool said.

Poon said the Thai currency is likely to swing in a wide range due to pressure from the Ukraine-Russia crisis, which is causing the dollar to strengthen.

The baht is also facing pressure from rising energy prices, which could take a toll on Thailand’s current account since the country is a net importer of energy.

However, Poon said the baht will not weaken much even in a risk-off market, as it will be supported by gold sales when the price nears the resistance level.

Meanwhile, foreign investors are waiting for the baht to strengthen on the back of Thailand’s economic and tourism recovery.

The baht’s key resistance level will be 32.80 to 32.90 per dollar, while the key support level will be 32.40, Poon said.

He added that investors were favouring the dollar due to the demand for safe assets. However, the US currency might weaken if the European Central Bank signalled an interest rate rise or tighter monetary policy to handle rising inflation, Poon said.

Published : March 07, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40013100

The Russia-Ukraine war and government subsidies are pushing up the price of agricultural products like paddy rice, raw sugar, tapioca, palm oil and maize, the Bank for Agriculture and Agricultural Cooperatives (BAAC) has said.

BAAC vice president Somkiat Kimawaha recently said the bank’s research and innovation development team has predicted that the ongoing war, government subsidies and the Covid-19 crisis will further push up the price of several agricultural products in March.

According to him, the following crops will see a jump in price:

• Jasmine paddy rice: The price now stands at between 11,503 and 11,850 baht per tonne, marking an increase of about 0.5 to 3.54 per cent. This increase was attributed to a scheme in which rice farmers were granted loans to delay the sale of their harvest until prices rose.

• Raw sugar in the New York Stock Exchange: Raw sugar is being traded in New York at between $0.1865 and $.1880 per pound, marking an increase of 0.65 to 1.45 per cent. This increase was attributed to the ongoing war, which has affected the oil demand. In Thailand, rising global oil prices have led to a higher demand for ethanol, so more sugarcane is being used to make fuel instead of sugar.

• Maize: Its price stands at between 8.99 and 9.02 baht per kilogram, marking a rise of 0.11 to 0.45 per cent. The increase was attributed to the war as it has affected the export of wheat from Ukraine. With the price of wheat surging, manufacturers are now using maize for animal feed.

• Tapioca: Tapioca now trades for between 2.33 and 2.37 baht per kilo, marking an increase of between 0.88 and 2.63 per cent. This is because the demand for tapioca in China is still high as it is used as a key ingredient for making ethanol.

• Oil palm: Oil palm is being traded at 8.58 to 9.02 baht per kg, marking a rise of 3.12 to 8.41 per cent. This increase has been attributed to expanding economies and rising oil prices due to the war, which is prompting many countries to start using oil palm to make bio-diesel.

• Third-grade rubber sheets: These are now being traded at about 56.27 to 57.45 baht per kg, recording an increase of about 0.18 to 2.28 per cent. This increase has been attributed to a drop in supply because the milking of rubber trees in the Northeast and East has stopped due to the off-season. Also, rubber plantations in Indonesia and Vietnam have been hit by a new disease.

• Pork: The meat is now trading at about 95.91 to 96.89 baht per kilo, marking a rise of between 0.13 to 1.15 per cent. The price of pork is surging because the cost of raising pigs has risen by 14 per cent due to expensive pig feed. In addition, pig farmers have also had to shoulder the cost of preventing the spread of African Swine Fever.

Published : March 06, 2022

By : THE NATION

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https://www.nationthailand.com/business/40013097

In a business-matching event organised in Udon Thani, tourism operators from the South and Northeast came up with ways to boost tourism in their provinces after the fallout of the Covid-19 crisis.

The event was organised by the Phuket Tourist Association and Phuket Tourism Council from February 25 and 27, and participating were businesses from Phuket and five Northeast provinces namely Udon Thani, Loei, Nong Khai, Beung Kan and Nong Bua Lumphu.

Bhummikitti Ruktaengam, Phuket Tourist Association president, said operators also devised special packages at the event, such as trips to study the Sino-Portuguese architectural style in the South as well as adventure and free-diving trips.

Udon Thani governor Siam Sirimongkol said his province is at the centre of the Northeast and travellers can fly into Udon Thani and use that as a base to travel around Thailand.

There are seven flights per week between Udon Thani and Phuket, he added.

“Udon Thani and Phuket are connected in many ways, as many people from Udon Thani and neighbouring provinces travel to work in Phuket,” he said.

Siam added that Udon Thani also has a variety of attractions such as unspoilt nature, religion, tradition and culture, and is ready to support domestic as well as foreign tourists under the Phuket Sandbox scheme. Udon Thani also has a sandbox scheme of its own.

Phuket governor Narong Woonciew said his province had been severely affected by the Covid-19 crisis over the past two years, but the situation has now improved thanks to the sandbox schemes.

He added that tourism agencies in Phuket will hold similar events in other regions to exchange strategies and stimulate the industry nationwide.

Narong also said he hopes the Centre for Covid-19 Situation Administration’s plans to reopen the Nong Khai-Vientiane border will help boost Phuket tourism.

“This event is part of a cooperation between related sectors to create economic stability as tourism is the main engine to generate revenue across the nation,” he said, adding that tourism is key to stimulating the economy.

Phuket Tourism Council chairman Thanet Tantipiriyakit said activities have been organised to promote tourism in Phuket and nearby areas after the launch of the Phuket Sandbox scheme.

“Phuket is an important tourism destination in the Andaman Sea with a variety of tourist attractions,” he said. “We hope tourists from Udon Thani and other regions, including Laos, will visit Phuket.”

Published : March 06, 2022

By : THE NATION