Commerce Ministry
- Thailand News
Pawsitive growth: Thailand’s pet food exports skyrocket 31%
Thailand’s pet food exports have surged by around 31% in the first nine months of the year, raking approximately 80 billion baht, according to the Commerce Ministry’s Trade Policy and Strategy Office (TPSO). The demand for high-quality dog and cat food led the charge, accounting for around 71 billion baht—an impressive 39% increase compared to the previous year. “The pet…
- Thailand News
Thailand introduces new inspection system for fuel measurement
Thailand’s Ministry of Commerce has initiated a new registration system for private entities to become certified inspection units, aiming to enhance the reliability of fuel measurement at service stations. The Department of Internal Trade (DIT) announced the criteria for this registration process. Starting July 26, they have been promoting this initiative and welcoming applications since August. This move is part…
- Thailand News
Thailand seeks Japanese investment in high-tech sectors
Thailand’s Commerce Minister Pichai Naripthaphan met with Japanese business leaders on November 1 to encourage increased investment in advanced technology sectors, aiming to restore Japan’s position as Thailand’s primary foreign investor. In his first meeting since taking office, Pichai held discussions with Keita Ishii, president of the Japan Chamber of Commerce and Industry (JCCI), alongside executives from major Japanese firms…
- Business News
Commerce ministry urges halt on soyabean oil price hikes
The Commerce Ministry issued a call to edible oil processors, urging them not to increase retail prices, citing no rise in production costs. This follows reports indicating that soyabean oil producers are considering raising the price of bottled soyabean oil. Goranij Nonejuie, Internal Trade Department Deputy Director-General, announced that the department has formally requested the Soyabean and Rice Bran Oil…
- Thailand News
Thailand outlines new measures to support Thai farmers
Commerce Minister Pichai Naripatapan, announced that the House of Representatives’ Agriculture and Cooperatives Committee met with the Ministry of Commerce to discuss policies and measures to assist Thai farmers both domestically and internationally. The focus was on key agricultural products such as rice, cassava, animal feed corn, and fruits, as well as the compilation of agricultural product data. The meeting…
- Thailand News
Thailand’s drought and pests slash coconut yields, prices soar
The Agriculture Ministry revealed that the country’s mature coconut yield is expected to plummet to just 0.86 million tonnes this year, a sharp drop from last year’s 0.94 million tonnes. Blame it on a double whammy of prolonged drought and pesky infestations ravaging the country’s coconut trees. The knock-on effect is already being felt in the markets. Commerce Minister Pichai…
- Thailand News
Thailand targets inflated mud removal fees in flood-hit areas
Commerce Minister Pichai Naripthaphan has directed Thailand’s Department of Internal Trade (DIT) to initiate legal actions against backhoe operators in flood-affected provinces for inflating mud removal fees. Following visits to Chiang Rai and Chiang Mai over the weekend to assess the flood damage and expedite recovery efforts, Pichai received complaints about backhoe operators charging exorbitant fees for mud removals from…
- Thailand News
Commerce Ministry says pork prices are ‘bringing home the bacon’
The Thai Ministry of Commerce has addressed concerns raised by Commerce Minister Pichai Naripthaphan regarding the high cost of pork in Thailand compared to imported pork. This issue has led to significant expenses for consumers. Consequently, the ministry has instructed the Internal Trade Department to collaborate with relevant agencies to find solutions that balance and make the entire pricing chain fairer.…
- Thailand News
Thailand promotes quality products at Times Square
Thailand’s Ministry of Commerce launched a campaign to elevate the image of Thai products at Times Square. The Ignite Thailand Festival: Think Thailand, Next Level took place at 46-47 Broadway Plaza & Duffy Square yesterday, September 4, aiming to showcase the quality and innovation of Thai goods to over 20 million consumers in the United States. Wuttikrai Leeweeraphan, Permanent Secretary…
- Thailand News
Economic challenge: Business tycoon Pichai to the rescue
Pichai Naripthaphan, a businessman-turned-politician, is stepping into the hot seat as Thailand’s new Commerce Minister at a time when the nation’s economy teeters on the edge of disaster. With sky-high expectations from every corner, Pichai faces the daunting task of steering the country out of economic turbulence. Pichai takes over from Phumtham Wechayachai, who has moved to Defence Minister and…
- Thailand News
Commerce Ministry cracks down on hidden foreign ownership
The Commerce Ministry intensifies its scrutiny of businesses allegedly using Thai nominees to hide foreign ownership, focusing on sectors like tourism, real estate, and logistics. Auramon Supthaweethum, director-general of the Department of Business Development, stated that under the Foreign Business Act of 1999, foreign firms must secure permission as outlined in specific lists before starting operations. A Thai limited company…
- Thailand News
Thai farmers set to grow demand for chemical fertilisers next year
The demand for chemical fertilisers and agricultural chemicals among Thai farmers is expected to rise between October and December next year. This increased need is crucial for crops such as oil palm, rubber, fruit trees, and ornamental plants, which require year-round agricultural inputs. Udom Srisomrong, Deputy Director-General of the Department of Internal Trade, highlighted that the current fertiliser prices in…
- Thailand News
Thailand govt addresses TEMU’s impact on local SMEs
Thailand’s Deputy Prime Minister and Minister of Commerce raised concerns over the impact of the global e-commerce platform TEMU on Thai SMEs. Immediate protective measures are being discussed with eight agencies to curb the influx of online goods into the country. Phumtham Wechayachai shared his views on Facebook, stating that while international e-commerce platforms bring opportunities, they also present significant…
- Thailand News
Thailand launches price cuts to boost economy before digital wallet
The Ministry of Commerce, in collaboration with 150 manufacturers, retailers, and government agencies, is launching a nationwide price reduction event to alleviate living costs and stimulate the economy before the digital wallet launch. Deputy Prime Minister Phumtham Wechayachai announced that the Ministry of Commerce invited government agencies, consumer goods manufacturers, wholesale and retail chains, the Thai Retailers Association, and other…
- Business News
Commerce Ministry to finalise digital wallet registration
The Commerce Ministry will finalise the registration of two million vendors for the digital wallet handout scheme by September, marking a significant step in the initiative aimed at boosting the economy. Commerce Minister Phumtham Wechayachai announced that up to two million vendors are expected to participate in the scheme. The ministry plans to disclose more details next week regarding the…
- Thailand News
Deputy Thai PM orders plan to boost tapioca market in Korat
Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai visited tapioca farmers in Korat, where he ordered the development of a comprehensive plan to manage prices and urged the expansion of new export markets in the Middle East. During the recent off-site Cabinet meeting in Nakhon Ratchasima, Phumtham met with the Tapioca Association, farmer representatives, and the President of the…
- 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
Finance minister: Digital wallet funds to exclude mobile phones
Deputy Finance Minister Julapun Amornvivat urged the Commerce Ministry to reconsider its decision to permit recipients of the 10,000-baht payout from the digital wallet scheme to use the funds on mobile phones. He argued that this move would not benefit the domestic economy as intended. Prime Minister Srettha Thavisin shares these concerns, noting that most mobile phones are either manufactured…
- Thailand News
Thai trade event forecasts 60 billion baht in deals
Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai praised the THAIFEX–ANUGA ASIA 2024 event, predicting trade deals worth 60 billion baht over five days. The event, held from May 28 to June 1 at the Impact Exhibition Centre in Mueang Thong Thani, was organised by the Ministry of Commerce’s Department of International Trade Promotion, in collaboration with the Thai…
- Thailand News
Would you eat 10 year old rice? Activist demands court intervention
Prominent solo activist Srisuwan Janya approached the Central Administrative Court, seeking an urgent suspension of the Commerce Ministry’s plan to auction off approximately 15,000 tonnes of rice from the scandal-tainted rice pledging scheme of the Yingluck Shinawatra government. In his court petition, Srisuwan highlighted the concerns of numerous rice experts who oppose the auction. They argue that rice stored for…
- Thailand News
Panel to auction 15,000 tonnes of rice from Yingluck era
A dedicated panel has been established to manage the auction of 15,000 tonnes of rice remaining from the contentious rice-pledging scheme initiated during former Prime Minister Yingluck Shinawatra’s tenure. This announcement came from Commerce Minister Phumtham Wechayachai. The panel is set to draft the terms of reference (ToR) for the auction, with completion expected by the end of this month.…
- Thailand News
Thailand and Bhutan start free trade talks to boost trade by 2025
Thailand and Bhutan yesterday officially began negotiations for a free trade agreement (FTA), aiming to finalise the deal by next year. Deputy Commerce Minister Napintorn Srisunpang confirmed that Bhutanese Prime Minister Tshering Tobgay has signed the terms of reference to initiate the FTA discussions. Both nations see this agreement as a crucial step to enhance bilateral trade and investment, dismantle…
- Thailand News
Thai govt plans to ‘rice’ to the occasion with decade-old grain auction
The Thai government expressed a strong intent to auction off the last remaining stocks of decade-old rice. This move is in line to replenish the state coffers, as made clear by Deputy Prime Minister and Commerce Minister Phumtham Wechayachai, in a recent Facebook post. The aged rice in question is part of the controversial rice-pledging scheme initiated during the administration…
- Thailand News
Ricegate scandal: 10 year old rice stockpile unsafe for consumption
The Thailand Consumers Council (TCC) demanded rigorous quality and safety checks for a colossal 15,000 tonnes of jasmine rice, stockpiled since 2014 under the controversial rice-pledging scheme. The council, joined by an academic from Chiang Mai University, fears the rice may be laced with harmful chemicals, rendering it unfit for human or animal consumption. Deputy Chief of the TCC’s policies…
- Thailand News
Spain’s plastic law impacts Thai beverage exports
The Ministry of Commerce’s latest directive has set Thai entrepreneurs on a mission to crack the cap code in light of Spain’s latest law on plastic waste. To tackle plastic waste, Spain’s new law insists bottle caps remain steadfastly attached, impacting global trade. Aligning with the EU’s green agenda, this move aims to slash plastic pollution and set a new…
- Thailand News
Thai government’s triple referendum approach under scrutiny
The Cabinet will acknowledge the government’s stance on a triple referendum as a part of the process to amend the entire charter next week, according to Deputy Prime Minister and Commerce Minister Phumtham Wechayachai. Phumtham asserted that despite being a protracted process, three referenda would ensure a judicious approach. However, critics have raised concerns that organising the triple referendum, each…
- Business News
Thailand’s CPI sees sixth consecutive monthly decrease
The consumer price index (CPI) in Thailand has seen a decrease for the sixth consecutive month as of March, as reported by the country’s Commerce Ministry. This marks the 11th month in a row that the CPI has fallen outside the target range set by the central bank, which is between 1% and 3%. March’s CPI dropped by 0.47% compared…
- Thailand News
Decade-old rice prompts questions about health risks
In an urgent call to the authorities, a rice specialist has sounded the alarm over the government’s plans to distribute a decade-old rice stockpile to the public, highlighting serious health risks. This comes in the wake of Deputy Prime Minister and Commerce Minister Phumtham Wechayachai’s inspection of two Surin province warehouses on March 14, where he declared the 10 year…
- Business News
Franchise frenzy: Commerce Ministry ramps up business game
Aiming to bolster its capabilities, the Commerce Ministry is set to upgrade franchise businesses, hasten the creation of franchise business standards, and foster relationships with domestic and international investors. The strategy is designed to expand the market and stimulate economic value. The Director-General of the Business Development Department under the Commerce Ministry, Auramon Supthaweethum, highlighted the appeal of the franchise…
