Search Results for: rice price
- 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.…
- Business News
Rice prices surge to 15-year high amid demand and El Niño concerns
Rice prices have surged to a 15-year high amid growing concerns about the impact of increased demand and the effects of El Niño on supplies. The grain, a dietary staple for billions of people in Asia and Africa, saw its cost rise 2.5% last week, reaching US$650 a tonne, the highest point since October 2008. This information, provided by the…
- Business News
Rice prices boil over, stirring inflation concerns for Asian central banks
Central banks across Asia are bracing themselves for the challenge of curbing inflation amid soaring food prices, particularly rice, a dietary staple in the region. The cost of rice surged to its highest since 2008, sparking concern among economists at HSBC Holdings Plc. Frederic Neumann, leading a team of economists at HSBC, referred to the significant impact of the 2008…
- Thailand News
Rice prices spike threatens farmers in Thailand
An increase in rice prices is causing concern for local farmers and rice millers in Uttradit, Thailand. The Agricultural Cooperative of Uttradit City Limited, known for producing and selling the “Good Udom” brand of bagged rice, is currently facing a shortage of husked rice. This crisis is due to large-scale rice millers purchasing at high rates, causing the price of…
- Economy News
Rice prices skyrocket in Thailand due to drought effects and export ban
A meeting is set to be convened today by Commerce Minister Jurin Laksanawisit evaluating the repercussions of the drought instigated by the El Niño weather occurrence, and potential courses of action in response to the surge in rice prices. Concurrently, the Commerce Ministry under the watchful eyes of Wattanasak Sur-iam, chief of the Internal Trade Department, is monitoring good prices,…
- Business News
India’s rice export halt stirs concerns of 10% surge in Thai rice prices
Potential tremors in the global rice markets may soon be felt in Thailand as India calls a halt on non-basmati white rice exports, according to high-ranking industry insiders. The abrupt decision, communicated by Indian authorities this week, immediately ignited concerns among Thai rice traders and industry power players, with predictions of an imminent 10% surge in local rice prices. The…
- World News
Vietnam passes Thailand as world’s top rice price
In undoubtedly only the second most important “r_ce war”, Vietnam has overtaken Thailand to become the highest-priced exporting rice in the world. First quarter prices were up nearly 19% over last year, reaching US $547 per tonne, with prices in March half a per cent higher than February’s rate. This run on pricing pushes Vietnamese rice past both Thailand and…
- Thailand News
Phuket Gazette Thailand News: Govt won’t budge on rice price; Cabinet V sworn in; Cameras out in Deep South attack
PHUKET MEDIA WATCH– Thailand news compiled by Gazette editors for Phuket’s international community Govt won’t budge much on rice price Reuters / Phuket GazettePHUKET: Despite increasing pressure from farmers, the National Rice Policy Committee is unlikely to budge on the new rice-pledging price of Bt12,000 per tonne, due to financial burdens, a government source has revealed. Deputy Prime Minister and…
- Thailand News
Bangchak cuts high-premium fuel prices by 5 baht per litre
Bangchak Corporation announced a significant price reduction on its high-premium fuel types, offering a discount of 5 baht per litre nationwide from today to tomorrow, July 20. This promotion includes both Bangchak Hi Premium 97 and Bangchak Hi Premium Diesel S, with no minimum purchase required. Bangchak Corporation, a leading company in the fuel industry, is running its major annual…
- 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
Food fight: Chatuchak market prices stir up a spicy online debate
A shocking revelation about the cost of food at Chatuchak market sparked a fierce online discussion. A Facebook user posted in the group พวกเราคือผู้บริโภค (We Are Consumers), which has 780,000 members, sharing their shock at being charged 820 baht for three dishes. Visiting the market only once a year, the user admitted to lacking local knowledge. They recounted their experience,…
- Phuket News
Phuket vendors warned over price gouging during inspections
Police in Phuket yesterday conducted an inspection at Malin Plaza Patong Market and Banzaan Fresh Market, warning vendors against price gouging. The investigation, led by Pathumphon Yamkerd of the Phuket Provincial Commercial Office, took place yesterday, July 10, at the two markets, aiming to ensure fair pricing and enhance Phuket’s tourism reputation. Some vendors were found not displaying prices, a…
- 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
BYD price cuts spark outrage among existing customers
BYD’s recent price cuts have sparked significant outrage among its customers, who feel that they have lost substantial amounts of money due to the new promotions. The electric vehicle (EV) manufacturer announced discounts of up to 340,000 baht, leading to a wave of discontent among early adopters who purchased vehicles before the price drop. The announcement has led many consumers…
- 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
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
Haulage operators in Thailand threaten strike over diesel prices
Road haulage operators have hiked their charges by an average of 9% today and are now gearing up for a nationwide strike unless the government addresses their demands to cap diesel prices at 30 baht per litre. Apichart Prairungruang, Land Transport Association of Thailand President, expressed frustration. “We’ve adjusted charges to cope with rising costs after four petitions to Prime…
- 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…
- 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…
- Business News
Gold prices rise with ornaments at 40,750 baht per weight
Gold prices surged today as the Gold Traders Association GTA) announced an increase, with gold ornaments selling at 40,750 baht per baht weight compared to yesterday’s rates. This change was recorded at 9.03am, today, June 12, showing a 100 baht rise from the previous day. Gold bar prices in the domestic market were set at 40,150 baht per baht weight…
- 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…
- Business News
Gold prices expected to rise amid Federal Reserve rate cuts
YLG Bullion International advises investors to accumulate gold as prices consolidate, with expectations of a rise in the medium to long term, particularly after anticipated interest rate cuts by the Federal Reserve later this year. Global gold prices have increased by 13.2% this year as of today, driven by high demand from central banks and institutional investors amidst tightening supply,…
- Thailand News
Ethereum ETFs approved, crypto prices to surge this year
Cryptocurrencies are having a golden year, with the US Securities and Exchange Commission (SEC) recently approving eight funds set to launch spot Ethereum exchange-traded funds (ETFs). Analysts predict the bull run will persist into the second half of the year, driven by strong interest from institutional investors. The SEC’s approval on May 23 for rule changes allowing ETFs to buy…
- Thailand News
Staffer pays the price for dine-and-dash at Phuket cafe
A staffer at the Cafe Dim Sum Phuket took to social media to warn fellow service workers about a crafty scam that left her out of pocket. The alarming incident occurred on May 23 at the bustling eatery near the iconic Clocktower Circle in Phuket Town. Nong Lin, an employee at the popular restaurant, recounted her experience with a group…
- 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
Diesel shock: Fuel Fund revs prices to 32.44 baht per litre
The Fuel Fund today announced an increase in the diesel price by 50 satangs per litre, raising it to 32.44 baht per litre, effective tomorrow. Despite reduced expenses, the fund still faces liquidity issues, according to the Director of the Fuel Fund Office, Wisak Wattanaphap. The Fuel Fund Management Committee convened and recognised the need to enhance the liquidity of…
- 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…
