Search Results for: The cost of rice
- Thailand News
Brewing trouble: Coffee brand percolates price hike due to costs
A popular coffee brand plans to increase its prices by 5% to 10% this month, citing rising production costs. This follows the recent price adjustment by Ajinomoto for its monosodium glutamate (MSG) products, which saw a 4% to 5% increase for packages of 250 grammes, 500 grammes, and 1,000 grammes. Somsak Pornratanacharoen, honorary advisor of the Thai Wholesale and Retail…
- Thailand News
Soaring food costs: Pork prices in Chai Nat spike
Consumers yesterday were victims of a surge in vegetable prices, followed by a 10-baht-per-kilogramme increase in pork prices today, eliciting urgent pleas from vendors to the government for assistance, as the burden of living expenses becomes progressively unbearable for citizens. Within the bustling municipal market of Chai Nat, a disquieting trend persists, causing concern among both vendors and buyers: the…
- Business News
Boxed milk prices set to rise due to increased raw milk costs
The Internal Trade Department under the Commerce Ministry is poised to consider and approve a potential rise in boxed milk prices, following a request in alignment with increased raw milk production costs. The move comes on the heels of the Milk Board’s recent approval to hike the median ex-factory rates for raw cow’s milk by 2.25 baht (US$0.064) to reach…
- Thailand News
Starbucks steams up with price hike, now costlier than Thailand’s minimum wage
Starbucks, one of Thailand’s most popular coffee chains, announced that the prices of its beverages will be increased by 5 baht at all of its stores across the country from today. One cup of coffee from Starbucks is now more expensive than Thailand’s national minimum wage. The corporation says the reason for the price hike is due to the current…
- Thailand News
Kid’s joyride costs Lamborghini owner millions: Pricey playtime ride
An eight year old child, left unattended by his parents, ended up playing on a stranger’s Lamborghini worth tens of millions, causing the car owner to pay a hefty money for damages. The incident occurred on October 29 when a man named Su from Zhejiang province in China parked his Lamborghini in an open car park and went about his…
- Business News
Sugar prices clampdown: Thai Government enforces caps amid production cost hike
The Thai government yesterday resolved to regulate sugar prices to lessen the burden on the public. The Minister of Commerce, Phumtham Wechayachai, expressed confidence that the move will not cause controversy with Brazil. Following the weekly cabinet session, Phumtham disclosed that the government had decided to set a limit on the ex-factory prices for granulated sugar at 19 baht per…
- Business News
Sky skirmish looms: Low-cost airlines face turbulence from price-dumping giants
The survival of emerging low-cost carriers in Southeast Asia could be threatened as dominant airlines may resort to price-dumping strategies to safeguard their market share. The airline industry’s seat recovery is also projected to take a decade to fully bounce back. Really Cool Airlines’ Chief Executive, Patee Sarasin, previously the chief executive of Nok Air, expects to obtain the Air…
- Transport News
Thailand’s airlines resist price war despite rising operational costs
Despite escalating operational costs, Thailand’s airlines are unlikely to trigger a new price war, while the Civil Aviation Authority of Thailand (CAAT) intends to retain the existing ceiling for ticket prices. This information was shared by Suttipong Kongpool, the CAAT director, during a seminar co-hosted by the Airlines Association of Thailand (AAT) and CAAT this week. Suttipong indicated that with…
- Economy News
Government economy plan: Cost of living cuts, fuel and electricity price adjustments
The government plans to announce initiatives to reduce living costs and boost the economy in an upcoming Cabinet meeting. Deputy Finance Minister Julapun Amornvivat revealed these measures would involve changes to diesel and electricity prices. A reduction in diesel excise tax is under consideration to lower retail prices at the pump and help the economy. A potential freeze on government…
- Economy News
Rice price hikes worry restaurant owners, some pass costs to diners
Rice prices have begun to climb, causing restaurateurs concern about the cost of producing made-to-order meals. Despite this, some restaurants have opted not to increase prices, sympathising with their customers. They are instead appealing to the government to control the cost. The Ministry of Commerce directed related agencies to balance rice prices after a lull in rainfall from El Niño…
- Business News
UK house prices fall for first time in 11 years amid rising borrowing costs
UK house prices have experienced their first decline in over a decade, with increasing borrowing costs impacting potential buyers, according to mortgage lender Halifax. In May, the average property price saw a 1% drop compared to the same month in the previous year, with prices £7,500 lower than their peak in August. Halifax’s Director of Mortgages, Kim Kinnaird, highlighted that…
- World News
South Korea to raise electricity and city gas prices amid high inflation and cost of living
South Korea announced today that it will increase electricity prices by 5.3% in an effort to partly account for rising generation costs. This decision, initially slated for implementation on April 1, was postponed by over a month due to concerns about the potential impact on already high inflation rates and the cost of living. This will be the second electricity…
- Economy News
FTI threatens to raise prices if govt hikes energy costs
It appears tourism won’t be the only thing on the rise in Thailand next year. Thai industries appear to be holding the government to account, threatening they will hike prices if the price of electricity is raised in the new year. Entrepreneurs under the Federation of Thai Industries (FTI) warned it will increase product prices by 5-12% if the government…
- Thailand News
Health dept’s reply to rising food costs: ‘let them eat curry & rice’
The Health Department’s “Let them eat curry and rice” response to Thailand’s cost of living crisis is not quite Marie Antoinette’s ‘Let them eat cake’ quip to the starving peasants of France in the 17th century, but it’s not far off. The Thai Health Department urged people to buckle their belts and accept the fact that consumer products are more…
- Property
Thailand self-built home costs to rise at least 5%, as metal and fuel prices spike
The prices of self-built homes are projected to rise by 5-8 percent, spurred by rising metal and fuel costs in the wake the war in Ukraine. Since Russia began its invasion of Ukraine last month, metal prices have increased by 50%. Key construction materials, various metals account for some 20% of home building costs. As a result, the prices of…
- Business News
Thailand considers petroleum reserve amid oil price volatility
Thailand is considering various strategies to mitigate the impact of global crude oil price fluctuations, beyond merely subsidising domestic oil prices through the dwindling Oil Fuel Fund. One proposed solution is the development of a strategic petroleum reserve (SPR) to enhance national oil security and safeguard against potential supply disruptions caused by geopolitical conflicts. Energy Minister Pirapan Salirathavibhaga suggested the…
- Thailand News
Thailand’s Half-Half fertiliser project aims to grow rice prices
The Thai government has launched the Half-Half Fertiliser project, aiming to improve rice prices for farmers while continuing the 1,000 baht per rai support scheme. The initiative is intended to help farmers in times of crisis and enhance rice quality. Thammanat Prompao, the Minister of Agriculture and Cooperatives, addressed criticisms of the Half-Half Fertiliser project at the Government House today.…
- Thailand News
Thammasat medical centre offers premium care at affordable prices
Thammasat Advanced Medical Centre (THAMC) in Pathum Thani province opened its doors to premium-quality yet affordable medical services. Located in a 53,965 square metre, 10-storey building in Khlong Luang district, the centre aims to provide a patient-centric approach with a team of experienced specialists and staff. The soft opening of THAMC took place last week, coinciding with the 90th anniversary…
- Thailand News
Durian vendors reduce sizes to segments amid price surge
Durian prices have surged in Nakhon Ratchasima, prompting vendors to adapt by selling the fruit in segments instead of whole, as local purchasing power dwindles and sales plummet more than 50%. At the fruit sale zone within a local market in Mueang Nakhon Ratchasima, durian sellers have shifted from selling the fruit by kilogrammes to selling it in segments, measured…
- Thailand News
British couple outraged over price of Heinz Beanz in Thailand (video)
A British couple holidaying in Thailand discovered that home comforts come at a shocking price abroad. Mark and Nadine, originally from the UK and Ireland but residing in Australia, embarked on their tropical getaway only to be floored by the cost of a simple can of Heinz Baked Beanz. While perusing a local supermarket, the pair stumbled upon the familiar…
- Thailand News
Thailand extends diesel price cap amid long-term energy concerns
Efforts by the Thailand government to cap energy prices, and diesel subsidies may appease the public in the short term, but there are growing concerns about the long-term implications on fuel consumption. The extension of the diesel price subsidy, funded by the Oil Fuel Fund, is a recent measure that fixes the retail price at 33 baht per litre until…
- Thailand News
Thailand truckers protest rising diesel prices, demand 30 baht cap
A convoy of trucks will hit the roads next week as truckers in northeast Thailand protest against rising diesel prices which are massively cutting into their profits, demanding the government cap the price at 30 baht per litre. Chairman of the Land Transport Federation of Thailand in the northeast and transport company owner, Somkid Kingkrodklang, highlighted the severe impact of…
- Thailand News
Thai air force transceiver deal raises concerns over inflated costs
A lawmaker from the opposition Thai Sang Thai Party (TST) raised the alarm over a plan to procure digital transceivers by the Royal Thai Air Force (RTAF), alleging that the proposed price significantly exceeds the market value. An MP for Roi Et with TST, Chatchawan Paettayathai revealed that the RTAF‘s Directorate of Communications and Electronics plans to purchase 40 Jotron…
- Business News
Commerce Ministry monitors 18 categories as transport costs surge
The Commerce Ministry launched a comprehensive monitoring initiative for prices across 18 categories as transport costs for the logistics sector surged by up to 9%. The Director-General of the Internal Trade Department, Wattanasak Sur-Liam, stated that the categories under scrutiny include instant noodles, fresh food, canned food, bagged rice, seasoning sauce, vegetable oil, carbonated drinks, milk and dairy products, electrical…
- Thailand News
Rice to the occasion: Decade-old rice sold for a steal
V8 Intertrading Ltd from Kamphaeng Phet Province triumphed in the high-stakes bid for 15,000 tonnes of decade-old jasmine rice. This controversial stock, a remnant of Yingluck Shinawatra’s scandal-ridden rice-pledging scheme, has been secured by V8 Intertrading for an astounding 286 million baht, averaging 19.07 baht per kilogramme. The Thai Rice Mills Association yesterday listed the price of 100% jasmine rice…
- Business News
Budget airlines push jet fuel tax cut to reduce airfare prices
Budget airlines have issued an appeal to the Finance Ministry to reduce the excise tax on jet fuel, to help mitigate their operational costs with the fragile state of the industry. Following a meeting with representatives from low-cost airlines, Deputy Finance Minister Julapun Amornvivat reported that the carriers discussed economic challenges and reiterated their commitment to supporting government measures aimed…
- Thailand News
Fishy finale: Prachin Buri seafood restaurant closes due to rising costs
The renowned seafood restaurant Soot Tiew Na Prachin Buri announced its closure due to rising costs, increased transportation expenses, and declining revenue. The restaurant’s last day of operation is this Sunday, June 16, and the owner is open to transferring the business to interested parties. The owner, Pak Kad, shared the news on Facebook today. “Hello, this is Pak Kad,…
- Thailand News
Seven bidders cleared for auction of 15,000 tonnes of rice
Seven potential bidders have been cleared to participate in the auction of 15,000 tonnes of rice remaining from the Yingluck Shinawatra administration’s rice-pledging scheme. Deputy Prime Minister and Commerce Minister Phumtham Wechayachai yesterday confirmed that the auction for this last stockpile will proceed as planned on June 17. Eight companies showed interest and submitted documentation to verify their qualifications earlier…
- Thailand News
Chicken vendors ‘squawk’ over soaring prices in South Thailand
Vendors in Nakhon Si Thammarat raised concerns about the sudden and unreasonable surge in chicken prices, questioning the silence and inaction of the Ministry of Commerce. The price hike has led to a ripple effect, impacting various sectors and consumers alike and mirrors a trend of rising prices nationwide. The recent spike in prices of fresh food products and raw…
- Thailand News
Electric car’s shocking failure, repair costs over 1 million baht
A woman’s electric car battery failed after being parked in the rain for just 20 minutes, resulting in repair costs exceeding 1 million baht. The issue has now been resolved, with the insurance company agreeing to cover the costs and spare parts being dispatched to the service centre. The electric car owner, Suphinya, today shared her unfortunate experience. After leaving…
