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https://www.nationthailand.com/business/40000538

Gold price drops in response to Yellen’s remark that interest rate could rise

The price of gold in Thailand dropped by THB50 per baht weight in morning trade on Wednesday due to the strengthening dollar after US Treasury Secretary Janet Yellen remarked that “it may be that interest rates will have to rise somewhat to make sure our economy doesn’t overheat”.

The Gold Traders Association report at 9.28am showed the buying price of a gold bar at THB26,200 per baht weight and selling price at THB26,300, while gold ornaments were priced at THB25,726.52 and THB26,800, respectively.

At close on Tuesday, the buying price of a gold bar was THB26,250 per baht weight and selling price THB26,350, while gold ornaments cost THB25,772 and THB26,850, respectively.

The spot gold price on Wednesday was US$1,790 (THB55,758) per ounce compared to the price on Tuesday, when it dropped by $15.80 to $1,776 per ounce.

The Hong Kong gold price on Wednesday fell by HK$90 to $16,480 (THB66,086) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : May 05, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000537

Baht expected to fluctuate amid Covid crisis

The baht opened at 31.18 to the US dollar on Wednesday, weakening from its previous close of 31.14.

The Thai currency is likely to move between 31.15 and 31.25 during the day and between 31.10 and 31.40 this week, Krungthai Bank market strategist Poon Panichpibool said.

He said the baht tends to fluctuate according to the Covid-19 situation in the country.

The financial market has also seen fluctuation and is in a risk-off state because investors are concerned the US Federal Reserve may lift the interest rate.

Poon explained that this concern came from a statement by US Treasury Secretary Janet Yellen, who said “it may be that interest rates would have to rise somewhat to make sure that our economy doesn’t overheat”.

Published : May 05, 2021

By : The Nation

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https://www.nationthailand.com/business/40000522

Commission eyes new electricity tariffs for next year

The Energy Regulatory Commission (ERC) announced that though the electricity tariff structure in Thailand will remain the same for the next five years, it will also offer benefits to consumers who produce their own power.

“The new electricity tariff structure will look into individuals who produce and consume power they generate [Prosumer] and independent power suppliers [IPS], as we are seeing more solar panels being registered every week,” said ERC secretary-general Khomkrit Tantrawanich.

The commission is expected to come up with clear guidelines this year and the new tariff will go into effect in 2022.

The new structure will support changes in the power-generation industry in line with national strategy and future economic, social, environmental and technological changes, he said.

Published : May 04, 2021

By : The Nation

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https://www.nationthailand.com/business/40000518

Thai rice exports drop to third in the world, Vietnam close behind

Rice exports plunged 23 per cent year on year in volume and value in the first quarter of 2021, relegating Thailand to third place among top rice exporting countries.

Customs Department data for January to March 2021 showed export of 1,131,944 tons of rice, worth THB21.80 billion (US$732.9 million), amounting to a 23 per cent drop in export volume and a 23.6 fall in value.

In the same period in 2020, Thailand had exported 1,469,664 tons, worth THB28.53 billion ($939.0 million).

Rice exports in March 2021 amounted to 302,668 tons worth THB6.262 billion. Export volume and value declined 25.8 per cent and 18.8 per cent respectively compared with 407,800 tonnes of export in February 2021, worth THB7.716.

Thailand’s rice exports now rank third behind India and Pakistan. With Thai exports only about 30,000 tons higher than Vietnam, there is a chance that Vietnam will topple Thailand from third place.

Experts said Thailand still had problems with container shortage, rising freight costs and other expenses. Moreover, the price of Thai rice, especially white and parboiled rice, is much higher than that of India and Pakistan. As a result, orders from abroad have decreased considerably compared to the normal times.

In March 2021, only 87,305 tonnes of white rice were exported, down 49.2 per cent

compared to the previous month, mostly to Cameroon, Japan, Mozambique, Guinea, Malaysia and Benin.

Meanwhile, exports of parboiled rice were only 60,803 tons, down 22.3 per cent month on month.

Most of them were exported to major markets such as South Africa, Benin, Cameroon, etc.

Export of jasmine rice amounted to 90,508 tons, down 9.6 per cent month on month. Most of them were shipped to main markets, such as the United States, Hong Kong, China and Canada.

The Thai Rice Exporters Association expects that in April 2021, the export volume of rice will be around 400,000 tons, a level that Thailand can export despite fierce price competition. This is because Thailand’s rice prices are still higher than their main competitors, especially India, which has the lowest rice prices in the market, about US$90-120 lower than Thailand.

Thai 5% broken white rice is priced at $493 per ton. Meanwhile, 5% white rice prices of Vietnam, India and Pakistan were at $488-492, 398-402 and 438-442 per ton respectively. Thai parboiled rice was priced at $496 per ton. While parboiled price of India and Pakistan were $368-372 and 441-445 per ton respectively, which led to Thailand losing the white and parboiled rice markets to India.

Over the past year, India has exported nearly 2 million tons of rice per month and is expected to export around 15-16 million tons this year.

Published : May 04, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000440

AIS deploys new tech in 24-hour virtual department store

AIS has launched a virtual department store “V-Avenue.Co” to cater to those who want to shop around the clock.

AIS explained that the virtual complex was a combination of its specialised technologies: 5G and virtual reality (VR).

V-Avenue is divided into five zones:

1. AIS Virtual Store

2. The Emporium and The Mall Lifestore Ngamwongwan

3. Asian Lifestyle

4. TV Direct

5. Community Hub

Pratthana Leelapanang, AIS chief consumer business officer, said that the V-Avenue was the collaboration between his organisation and partners in the retail business.

He added that 5G and VR technologies would play a more important role in the daily lives of people in the future.

AIS deploys new tech in 24-hour virtual department store

“A source pointed out that VR and Augmented reality [AR] will push global business to grow by USD1.5 trillion within 2030,” Pratthana said, adding that 23 million positions would also be affected by the VR and AR.

Regarding future plans of V-Avenue, Pratthana said that more functions would be added to the virtual complex to serve shoppers.

AIS deploys new tech in 24-hour virtual department store

A function his organisation aimed to add in the platform is a live seller.

AIS also planned virtual concerts and fashion shows in the V-Avenue by joining hands with those organisers.

AIS deploys new tech in 24-hour virtual department store

Published : May 01, 2021

By : The Nation

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https://www.nationthailand.com/business/40000415

Thai stocks slide as Covid restrictions tighten

The Stock Exchange of Thailand (SET) Index closed at 1,583.13 on Friday, down 7.33 points or 0.46 per cent. Total transactions amounted to THB85.48 billion with an index high of 1,593.23 and a low of 1,580.74.

In the morning session, Krungsri Securities expected the index on Friday to fluctuate between 1,580 and 1,600 points amid positive sentiment over the government’s plan for nationwide vaccination by the third quarter of this year.

The index was also buoyed by mass buy-ups of energy stocks in line with the rising oil price, as well as shares whose first-quarter turnover is expected to improve, according to Krungsri Securities.

“However, the Centre for Covid-19 Situation Administration’s move to tighten restrictions in six red-zone provinces from May and mass sell-offs of shares to prevent risks during the four-day holiday would pressure the index,” it said.

The 10 stocks with the highest trade value today were COTTO, KBANK, PTT, PTTGC, SCC, IRPC, DELTA, SCGP, GUNKUL and PTTEP.

Other Asian indices were on the fall:

China’s Shang Hai SE Composite Index closed at 3,446.86, down 28.04 points or 0.81 per cent, while the Shenzhen SE Component Index closed at 14,438.57, down 25.51 points or 0.18 per cent.

Hong Kong’s Hang Seng Index closed at 28,724.88, down 578.38 points or 1.97 per cent.

South Korea’s KOSPI closed at 3,147.86, down 26.21 points or 0.83 per cent.

Japan’s Nikkei Index was closed for Golden Week, while Taiwan’s TAIEX was shut for National Labour Day.

Published : April 30, 2021

By : The Nation