Search Results for: product prices
- Thailand News
Crocodile consumption craze caused by peak pork product prices
Marie Antoinette was famously attributed (or likely misattributed) as commenting, when the people did not have any bread to eat, “Let them eat croc!” Er, or something like that. But the people of Thailand have taken it to heart; as pork prices surge across the country, many have turned to eating crocodile as an alternate source of meat. The pig…
- Technology News
Chip shortage sees spike in new computer product prices
A global chip, or semiconductor shortage, is pushing new computer prices higher along with the demand for IT devices as more and more people turn to remote work and schooling. Somsak Pejthaveeporndej, chief executive of VST ECS Thailand, says the worldwide shortage includes integrated circuits that are used in a wide range of devices such as computers and IT products. Somsak…
- Thailand News
Koh Chang durian prices soar to 250 baht amid production drop
A surge in demand for the famed Chanee Koh Chang durian from Trat Province has seen prices starting at 250 baht per kilogramme. With a reported production drop of 30% due to unpredictable weather, local farmers are busy selling the highly sought-after fruit both in-store and online. Phuttiphong Phothipanich, an agricultural officer from Koh Chang, Trat Province, inspected the first…
- Business News
Oil prices dip over 1% due to Saudi cuts and increased Opec production
Oil prices experienced a significant drop today, with a decrease of over 1% due to the substantial price reductions introduced by Saudi Arabia, a leading exporter, coupled with an increase in the Organization of the Petroleum Exporting Countries (OPEC) production. These factors successfully counterbalanced concerns about the growing geopolitical tension in the Middle East. During early trading, Brent crude saw…
- 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…
- Thailand News
Duck egg prices quack up as rain dampens Khon Kaen production
Continual rainfall in Khon Kaen has led to a decrease in duck egg production, driving the cost of duck eggs to an unprecedented high of 170 baht per tray. Salted eggs have also seen a price increase, now costing 8 to 10 baht per egg. Reporters yesterday visited Ban Dong Pong, Moo 10, Sila Subdistrict, Mueang District, Khon Kaen Province,…
- World News
Opec+ agrees extended production cuts to boost flagging oil prices
Oil-producing nations have agreed to extend production cuts in an effort to support struggling prices. Saudi Arabia announced its intention to reduce output by one million barrels per day (bpd) in July, while Opec+ stated that targets would decrease by an additional 1.4 million bpd from 2024. Opec+ represents approximately 40% of global crude oil production, and its decisions significantly…
- Economy News
In midst of price inflation, Thailand to freeze prices on dozens of products
In the midst of the world’s overwhelming price inflation, Thailand plans to freeze the prices of 46 items. The items are grouped into 9 categories, which are: paper and paper products, transport-related products, farm-related products, petroleum products, medicines, construction materials, “important” farm products, consumer products and food. The items include bicycle and car tires, motorcycles and trucks, water pumps, fertiliser,…
- Phuket News
Phuket discount products fair to counter rising prices
PHUKET: In a bid to offer some relief from the spiralling cost of living in Phuket, the Phuket Provincial Cooperatives Office is holding a “discount products fair” in front of its offices in Phuket Town. Phuket Vice Governor Somkiet Sangkaosutthirak yesterday officiated the opening of the week-long fair on Damrong Road, in the old government quarter of the town around…
- 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
Myanmar armed groups boost drug production to fund resistance
Armed ethnic groups in Myanmar are increasingly producing illicit drugs to fund their resistance against the Myanmar government, according to a senior Royal Thai Army (RTA) officer. Deputy Commander of the Pha Muang Force, Colonel Meechai Nillasart, disclosed that these groups are using drug trafficking to finance their purchase of weapons and sustain their fighters. The Pha Muang Force has…
- 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
Gold prices drop again, jewellery now at 40,850 baht
Gold prices continue their downward trend today, with the Gold Traders Association (GTA) reporting another drop. As of this morning, the price of gold jewellery stands at 40,850 baht per baht-weight, reflecting a decrease of 150 baht from yesterday. Today’s gold prices, as reported at 9.16am, show a decrease when compared to the closing prices yesterday, June 25. The GTA’s…
- Thailand News
Thailand imports shrimp from Ecuador amid local production crisis
Thailand, once the world’s leading shrimp exporter, now finds itself importing shrimp from Ecuador. Prime Minister Srettha Thavisin directed the Department of Fisheries to investigate and report back in the next Cabinet meeting. The nation, which used to produce and export 600,000 tonnes of shrimp annually, now produces only 200,000 tonnes. This significant decline has necessitated the importation of shrimp,…
- Thailand News
Gold prices in Thailand rise to 40,950 baht per baht weight
Gold prices in Thailand saw a significant rise today, prompting many to check the latest rates. Compared to the closing price from yesterday, June 18, gold ornaments are now being sold at 40,950 baht per baht weight. According to the Gold Traders Association, the price increase today was 150 baht. As of 9.08am, the local gold bar buying price stands…
- 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
Cracking news: Egg prices to soar due to extreme weather
As announced by the Thai Cooperative Network for Chicken Egg Producers, egg prices are set to rise by 20 satangs per egg tomorrow, citing the extreme weather as the reason for the increase. The farm price for eggs will be 4 baht each, marking an increase of 6 baht per tray. The members of the network include producers from Chachoengsao,…
- Thailand News
Shocking find: Police zap unsafe electronics sold at bargain prices
The Thai authorities successfully seized a large number of unsafe electronics, including substandard power banks and adapters, which were being sold at suspiciously low prices both in physical stores and online. This crackdown took place yesterday, with authorities aiming to prevent potential explosions and fires often associated with these unsafe products. Head of the Consumer Protection Police Division (CPPD), Police…
- Thailand News
Commerce ministry acts to control prices amid minimum wage hike
The Ministry of Commerce implemented two measures to tackle rising product prices following the minimum wage increase to 400 baht. Officials are closely monitoring clothing prices and urging businesses to maintain prices for essential goods in eight categories. Director-General of the Department of Internal Trade Wattanasak Sueaiam stated yesterday May 16 that the private sector is preparing to raise product…
- Business News
Golden stability: Prices hold firm above US$2,300 despite brief dip
With a steady hold above US$2,300 during the early days of May, gold prices remained relatively unchanged, following a brief dip to the lowest level since the start of April. The first half of this year is anticipated to experience intense volatility in prices owing to factors such as the US economic health, global interest rate fluctuations, and the Middle…
- Business News
Oil prices surge amid Middle East tensions and Russia-Ukraine war
Tensions in the Middle East and ongoing conflicts between Russia and Ukraine have elevated crude oil prices. Notwithstanding the fragile global economic climate, crude oil prices experienced a dip in the first quarter of the year, as the OPEC+ group of producers continued to restrict supply. Near the start of April 2024, the ICE Brent crude oil price has reached…
- Thailand News
Thai durian dismay: Growers feeling ‘fruit-ile’ as production plummets
The revered Nonthaburi durian, a cherished variety of Thailand’s king of fruits, has witnessed a drastic production decline to just 10% compared to the previous year, plunging growers into a state of crisis. This significant drop is attributed to the rapidly changing and prolonged hot weather conditions affecting the country. The scarcity has driven up the prices of this year’s…
- Business News
Thailand’s manufacturing production index falls for 17th time
The Office of Industrial Economics (OIE) disclosed that Thailand’s Manufacturing Production Index (MPI) has fallen for the 17th consecutive month. February saw a year-on-year decrease of 2.8%, bringing the index to 99.2 points. This slump is largely attributed to a drop in manufacturing within key sectors, including the automotive industry. The OIE has also highlighted ongoing issues with high household…
- Thailand News
Surging gold prices trigger counterfeit boom in Thailand
Police have issued a stark warning about a surge in counterfeit gold following a significant increase in its price. The warning comes after a prominent store suffered a loss of over 8 million baht (US$ 224,000) due to the undetectable blending of gold with other metals using sophisticated techniques. The Royal Thai Police’s Central Forensic Science Division, in a joint…
- Business News
Thailand and Cambodia reignite talks on joint petroleum production
The Petroleum Exploration and Production Industry Club has shown its full support to the renewed efforts of the government to kickstart the oft-stalled talks on joint petroleum production between Thailand and Cambodia. The talks revolve around the Overlapping Claims Area (OCA), located in the Gulf of Thailand. Nipatsin Yimyam, the club’s chairman under the Federation of Thai Industries, stated their…
- Thailand News
Roses lead, condoms surge: Grab reveals 5 best-selling products on Valentine’s Day
Grab Thailand unveiled its top five best-selling products during the Valentine’s Day festival with roses remaining the champion while condoms, although not in the top five, saw a 30% surge in sales. One of Thailand’s most popular superapps, Grab, gathered statistics from GrabMart users starting from February 1 before releasing a list of Thailand’s best-selling products on its application. The five…
- Business News
PTTEP boosts gas production at Erawan to avoid hefty fine
PTT Exploration and Production Plc (PTTEP) is stepping up gas production at the Erawan gas block in the Gulf of Thailand to avoid a hefty fine. The penalty would be due to a failure to supply the volume of gas stipulated in a contract signed with PTT Plc, Thailand’s sole gas dealer. The chief executive of PTTEP, Montri Rawanchaikul, expressed…
- Business News
Rice rivalry: India’s export ban grains optimism for Thai prices
The ongoing ban on white rice exports in India is bolstering the optimism of local shippers that Thai rice prices will remain relatively high during the first half of this year. Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association, expressed that global market prices are likely to stay around US$600 per tonne, a rate not seen in…
- Thailand News
Quake, planes, and prices: Thai tourists undeterred in the face of Japan’s travel turmoil
Thai tourists seem undeterred by Japan‘s recent bout of earthquakes, airplane fireballs, and escalating travel costs. The Thai Travel Agents Association (TTAA) predicts that Japan will maintain its allure as the ultimate outbound destination for Thai visitors this year. Phumiphiphat Meesamran, TTAA’s Vice-President, revealed that the earthquake on New Year’s Day predominantly impacted Ishikawa prefecture, a lesser-known destination for Thai…
- Business News
Baconomics at play: Pork prices sizzle down, fuelling October’s inflation cool-off
A decline in pork prices significantly contributed to a reduction in the inflation rate in October, an anonymous figure within the Finance Ministry has revealed. The inflation experienced a year-on-year decrease of 0.31% in October, largely due to a 0.2% drop in energy prices, attributed to lower oil costs and employed subsidies to keep energy prices in check. Moreover, food…
