Category: Business

Bangkok, The Permanent Secretary of the Ministry of Energy stated that on 7 Nov. the price of gasoline will be reduced throughout the panel. Or will only gasohol 95 be reduced at the rate of 2.50 baht/liter, waiting for policy clarity from the Minister of Energy for shared vehicles, urging assistance in the price of NGV gas.

Mr. Prasert Sinsukprasert Permanent Secretary of the Ministry of Energy said that at the moment he is waiting for policy from Mr. Peeraphan Saleerathaviphak, Deputy Prime Minister. and the Minister of Energy whether there will be an additional reduction in the price of gasoline or not after the Cabinet on 31 Oct. 2023 agreed to reduce the excise tax on gasoline by 1 baht per liter for 3 months, starting on 7 May. September. As for the matter of reducing oil prices, it is left to the Ministry of Energy to manage. which is clearly according to the policy The Minister of Energy from the beginning was to reduce the price of gasohol 91 by 2.50 baht per liter starting on 7 Nov. When the gasoline tax was reduced, the gasohol tax 91 was reduced by 90 satang per liter. There must be a reduction in the fuel fund collection by approximately 1.40 baht per liter.

“Originally, the Energy Minister had a policy to reduce only gasohol 91 to help motorcycle users and farmers. But when the Ministry of Finance stated that taxes had to be reduced for the entire gasoline group by 1 baht per liter, the taxes on all types of gasoline and gasohol were reduced as well. Waiting to see the clear policy on how to reduce things and how. But if the price of other products is reduced at the same time, it may have an effect on the fuel fund, which is currently in a negative position,” Mr. Prasert said.

Mr. Prasert said Made a forecast after reducing the price of Gasohol 91 by 2.50 baht that it is expected that demand will increase. It may increase from the current average use of nearly 7 million liters/day to 10 million liters/day or 15 million liters/day, which will cause the total oil fund collection to decrease in 3 months by approximately 1,000-2,000 million baht, but If there is a reduction in the price of other gasoline groups as well. It will have an increased impact on the fund's position. and soon There will be a meeting of oil traders to manage oil stocks to support the policy of reducing people's living costs.

In this regard, the latest Fuel Fund (Oct. 29) is still negative by more than 74,292 million baht, separated into the oil account with a negative value of more than 28,938 million baht and the cooking gas (LPG) account with a negative value of 45,354 million baht. As of 31 Oct. 66 Oil Fund money is collected from gasohol 91,95 at 2.80 baht/liter and the excise tax rate is collected at 5.85 baht/liter, while the gasoline tax is collected at 6.50 baht/liter.

Mr. Panya Lertnghim, President of the Bangkok Metropolitan Region Public Van Association, said that on November 2, 2023 at 9:00 a.m., a group of bus operators joined in public service. About 200-300 public buses of all types will be brought to the Ministry of Energy. To submit a letter to Energy Regarding suffering from the price of NGV that has increased by submitting 4 proposals as follows: 1. Request that the price of NGV gas be at 12.74 baht per kilogram (kg) for the public bus group. 2. Request to extend the period of using the discount card for an additional 2 years 3. Request to cancel the NGV gas refill limit that is not consistent with current conditions and 4. Request to have a discount card for fuel that uses diesel fuel. of the public bus group.

Source: Thai News Agency

Bangkok, Grocery sellers at Huai Khwang fresh market. The largest fresh market in Bangkok I don't know yet. There will be an increase in the price of sugar by 4 baht because the middlemen or distributors did not inform them. The price of refined white sugar and the price of brown sugar at Huai Khwang market It is still sold at a price of 27 baht per kilogram. If the price really increases as reported, it is believed that sales will not fall because sugar is a necessary product.

After it is likely that the price of sugar in the country may soon be increased to 4 baht per kilogram at the factory, this is a price increase based on production costs increasing by 2 baht per kilogram and collection into the Sugarcane and Sugar Fund. Another 2 baht per kilogram of sand will be used to pay assistance to sugarcane growers who cut fresh sugarcane and send it to sugar factories without using burning methods to reduce PM 2.5 dust, causing retail prices in the country to be adjusted accordingly.

This is from visiting the Huai Khwang fresh market area. The largest fresh market in Bangkok At the grocery store of P' Chotika Baothong, a grocery store that is open 24 hours a day, she told us that The shop still sells refined white sugar and brown sugar. It is at a price of 27 baht per kilogram, bought from middlemen or wholesalers at 25 baht per kilogram, making a profit of 2 baht per kilogram. In the past, we did not know that there would be an increase in the price of sugar. Because the middleman has not informed them, but if the actual price increases by another 4 baht per kilogram, it will retail for 31-32 baht per kilogram, with the same profit of 2-3 baht per kilogram as before, which I personally believe. Sales of sugar will not fall because it is a necessary product for consumption. Merchants like to buy it to make desserts and use it in their daily life.

As for this attempt to increase the price of sugar, it is a result of the much higher production costs from higher sugarcane prices because of the drought that has reduced production and it is expected that sugarcane crushing in the 2023-2024 production season may produce production. Only 75-80 million tons remain, or a decrease of 10% from the production season 2022-2023

Source: Thai News Agency

SET closed today at 1,371.22 points, down 30.48 points (-2.17%), trading value 45,690.17 million baht.

Stock trading today The index dropped sharply. The index made its lowest point at 1,370.30 points and made its highest point at 1,396.17 points. As for securities, changes today increased by 53 securities, decreased by 496 securities, and remained unchanged in 92 securities.

Source: Thai News Agency

Riyadh, Saudi Arabia, The Prime Minister attended the historic ASEAN-GCC meeting to promote seamless trade. Sustainable growth Ready to strengthen relations between the people of the two regions.

At 10:45 a.m. (local time in Riyadh which is 4 hours later than Thailand) at the Ritz Carlton Hotel, Riyadh, Saudi Arabia, Mr. Settha Thavisin, Prime Minister and Minister of Finance Participated in the ASEAN-Gulf Cooperation Council Riyadh Summit (GCC) together with leaders of ASEAN member states and the Gulf Cooperation Council (GCC), including Saudi Arabia. United Arab Emirates, Bahrain, Qatar, Kuwait and Oman also delivered a statement under the theme of Innovative Partnership for Sustainable Future (creative partnership for a sustainable future).

The Prime Minister was pleased to attend the meeting. along with expressing appreciation for the welcome of the Crown Prince and Prime Minister of Saudi Arabia by the ASEAN-GCC meeting This historical time Thailand confirms its intentions and commitment to strengthening relations between the two regions. Both regions have economic potential with a combined GDP of nearly 6% of world GDP. Thailand views that the ASEAN-GCC cooperation framework that all parties will jointly certify today It will help strengthen the potential for cooperation between the two regions.

Both regions face common challenges in human security, food, energy, health and climate change. Including the issue that every leader is concerned about, namely the Gaza Strip and surrounding areas.

The Prime Minister said ASEAN and the GCC have jointly developed a sustainable vision. Ready to deal with the future and has the people as the center Will join together to face various challenges. which is believed to be able to achieve the common objectives Under the creative partnership approach for a sustainable future On this occasion, the Prime Minister presented 3 points of cooperation. First, Thailand is ready to promote trade and investment seamlessly. through reducing trade and investment barriers between each other Ready to push for the establishment of the ASEAN-GCC Business Forum to promote cooperation between the business sectors of both regions. Thailand is ready to negotiate for a free trade agreement between Thailand and the GCC (Thai-GCC FTA) in order to increase the trade value between them to 40 billion US dollars. At the same time, as the kitchen of the world. Thailand is ready to share experiences in agriculture and food innovation. To prepare for challenges in food security We are also willing to cooperate with the GCC on science and standards in the production of halal food.

Second, Thailand is ready to promote sustainable development and energy transition With a goal of net zero greenhouse gas emissions, Thailand is also ready to promote green and sustainable financial mechanisms. through the issuance of sustainable green bonds Thailand is pleased if GCC members will participate in reaching the United Nations Sustainable Development Goals (SDGs) together.

Thailand also offers cooperation between GCC member states and the ASEAN Center for Sustainable Development Studies and Dialogue (ACSDSD), based in Bangkok. through the exchange of common practices and experiences Especially using energy to achieve maximum efficiency. Using clean energy Including promoting an environment in the use of electric vehicles.

And lastly To strengthen cooperation and relationships at the people-to-people level. Thailand including ASEAN Ready to welcome tourists from GCC member countries to the ASEAN region.

“Thailand aims to double the number of tourists from GCC member countries from nearly 300,000 within the next two years. Thailand has expertise in Health and Wellness tourism. Many Thai people can speak Arabic. This will be beneficial to the health care of GCC countries and is ready to exchange experiences and expertise. especially medical management tourism management and health tourism,” Mr. Settha said.

The Prime Minister also used the opportunity to call on ASEAN-GCC to be built on shared aspirations for peace, stability and prosperity.

“Thailand is saddened by the violence that has resulted in loss. And there were deaths, including 30 Thai people, which called for all sides to join together to end the violence. Solve the problem through peaceful means using negotiation and diplomacy under the basis of solving problems between two countries and calling on all parties to end the use of violence in the Middle East. and immediately release the hostages without conditions,” Mr. Settha said

At the end, the Prime Minister said that the results of this meeting It must be sustained through constant cooperation. And there is concrete follow-up on the results of the discussions

Source: Thai News Agency

Bangkok F.T.I. reveals the September Industrial Confidence Index was at 90.0, falling for the third consecutive month. Worried that the value of the baht will weaken Proposing the government to adjust loan interest rates Accelerate the establishment of a Virtual Bank

Mr. Kriengkrai Thiennukul, Chairman of the Federation of Thai Industries (F.T.I.), and Mr. Pittipat Manbuppachat, Deputy Secretary-General of the Federation of Thai Industries (F.T.I.), jointly revealed the results of the confidence index survey. Industrial sector For September 2023, it was at the level of 90.0, decreasing from 91.3 in August. which dropped for the third month in a row When considering the components of the index value It was found that almost every component decreased, including the index, overall orders, overall sales, production volume. and operating results Except for operating costs that have improved.

Sentiment in the industrial sector in September 2023 decreased as a result of the production sector slowing down as domestic purchasing power weakened from household debt problems and falling agricultural income. Meanwhile, demand from trading partners slowed in line with the global economic situation. In particular, the Chinese economy has slowed down due to the real estate crisis that continues to put pressure on the regional economy. and the depreciation of the baht due to capital outflows from the country in the past due to concern over interest rate increases by the US Federal Reserve (Fed), resulting in higher prices of imported raw materials. Meanwhile, the increase in the policy interest rate of the Bank of Thailand (BoT) resulted in increased financial costs for entrepreneurs. In addition, the flooding situation in many areas is an obstacle to the transportation of goods, including affecting agricultural raw materials. However, this month there are still supporting factors from government measures to help with people's living expenses by reducing the price of diesel fuel to no more than 30 baht/liter and reducing the electricity price from 4.45 to 3.99 baht/unit, resulting in lower industrial production costs and transportation costs. go down Reflected from the index Operating costs increased from the previous month. Including the continued recovery of the tourism sector, it still has a positive effect on domestic consumption.

F.T.I. has recommendations to the government sector as follows:

1) Propose to the BoT and both public and private financial institutions. Ensure that the difference between deposit interest rates and loan interest rates is reduced so as not to be a burden on entrepreneurs. Including expediting the establishment of a branchless commercial bank (Virtual Bank) as soon as possible.

2) Propose to the Industrial Standards Institute (TISI) and the Customs Department. Strict in detecting imported products that are not of good quality from abroad. To ensure the safety of consumers and protect the domestic industry.

3) Propose that the government sector supports the purchase of excess electricity back in the Net Metering system and encourages the trading of electricity from renewable energy (Renewal Energy) to support carbon neutrality (Carbon Neutrality).

Mr. Pittipat revealed that from a survey of 1,324 entrepreneurs covering 45 industrial groups of FTI in September 2023, it was found that the factors that entrepreneurs are increasingly concerned about include the world economy at 84.0 percent, the rate Loan interest is 69.5 percent, the domestic economy is 45.6 percent, respectively. Factors that are of less concern include the price of oil (55.2 percent), the political situation in the country (43.5 percent), and the exchange rate. (Exporter's perspective) The reference exchange rate is the baht against the US dollar at 41.8 percent, respectively.

For the next 3 months, the index is expected to be at 97.3, down from 99.5 in August. The risk factor comes from concerns about the trend of energy prices increasing due to demand during the winter. Meanwhile, the lingering geopolitical conflict has affected energy and commodity prices. However, there are still positive factors from the tourism promotion measures granting free temporary visas to tourists from China and Kazakhstan for 5 months, which is expected to help stimulate the economy for the rest of the year. 2023

Source: Thai News Agency

Bangkok, SET closed today at 1,423.04 points, down 14.81 points (-1.03%), trading value 36,492.93 million baht.

SET closed today at 1,423.04 points, down 14.81 points (-1.03%), trading value 36,492.93 million baht. Analysts Indicates that the Thai stock market has fallen today in line with the region. Under pressure from the 10-year US bond, it rose to close to 5%, including the possibility of the conflict between Israel and Hamas being protracted. Including high oil prices putting pressure on inflation. It is expected that the Fed may maintain interest rates longer. Tomorrow's trend: Investors will follow the speech from Mr. Jerome Powell, Chairman of the Fed. If there is no signal to raise interest rates in November, the market may relax. Also, if the bond yield slows down, the index is likely to recover somewhat. Support is set at 1,415 points and resistance at 1,430 points. - Thai News Agency

Source: Thai News Agency

People's Republic of China, Prime Minister discusses with Alibaba executives, inviting them to expand investment. Especially in the digital, logistics and cloud service industries.

At 2:00 p.m. (Beijing local time, which is 1 hour earlier than Thailand), Mr. Chai Watcharong, spokesman for the Prime Minister's Office, revealed that Mr. Fan Jiang, CEO of Alibaba International Digital commerce Group, paid a courtesy call on Mr. Settha Thawee. Sin, Prime Minister and Minister of Finance

The Alibaba Group is a major e-commerce company that provides services and develops online trading systems over the internet. Mobile phone, Alibaba Cloud Computing system and Alipay payment system. The company made a record for selling shares to investors for the first time (IPO) with the highest value on the New York Stock Exchange, amounting to 25 billion dollars or approximately 800,000 million baht.

Alibaba Group Company sees that Thailand has the potential to be a strategic partner. Alibaba Group Company has been successful in Thailand in many product fields. There are large market customers of Alibaba Group who are willing to support e-training for Thailand and expand investment cooperation, including E-commerce training for Thai personnel and workers.

The Prime Minister thanked Alibaba for its confidence and investment in Cloud Service. It is hoped that investment will be expanded and that Alibaba will support and develop Thailand's digital industry. I believe that there are still many investment opportunities in Thailand.

Alibaba Group is pleased to support the development of the Thai economy in the digital field. and proposes to set up a smart digital hub in Thailand, which the company will consider with interesting benefits. Travel platform is another product that the company Expanding operations and it went well which is collaborating with the TAT of Thailand to propose to the government for safety measures for tourists by using the online system and proposing the use of Chinese driver's licenses in Thailand It will be another way to promote tourism. Including the company will help promote tourism, Thai products, online help center for tourists.-Thai News Agency

Source: Thai News Agency

Deputy Spokesperson reveals that the Prime Minister ordered the government sector to purchase EV vehicles. Replace expired cars Ready to promote all types of public vehicles. Change to an EV car

Mrs. Radklao Inthawong Suwankiri, Deputy Spokesperson for the Office of the Prime Minister, said that Mr. Settha Thavisin, Prime Minister and Minister of Finance Order measures to promote electric vehicles or EVs, especially in the public sector. To support pushing for the use and production of EV cars according to the 30 at 30 policy, which is the goal to produce at least 30% of EVs by 2030, set by the Prime Minister. Order further that Request all government agencies to procure EV vehicles to replace expired vehicles. This includes purchasing or renting an EV vehicle. by the Ministry of Transport together with the Ministry of Finance Establish measures to encourage all types of public vehicles, whether taxis and tricycles, to be changed to EVs. and promoting battery production Creating a network of various charging stations to cover all areas. At the Cabinet meeting, there were observations and impacts of the EV vehicle measures. that may affect the used car market which also requires consideration of guidelines covering this part.

At the same time, the Prime Minister also emphasized on preventing and solving forest fire problems. Burning in the open which is part of the creation of PM 2.5 dust. This matter is considered an urgent need to have an action plan to reduce the danger. By solving problems at the root That requires cooperation with all parties both within the country and neighboring countries. Therefore, a committee was appointed to manage air pollution problems for sustainability. By assigning Police General Patcharawat Wongsuwan, Deputy Prime Minister and Minister of Natural Resources and Environment is the chairman of the board and has Mr. Kittirat Na Ranong, advisor to the Prime Minister is the vice chairman of the committee

Mrs. Radklao said that the Prime Minister has ordered garbage management. that must be expedited To achieve sustainability in development Government agencies must be good models in waste management. It must be done simultaneously for the entire system, that is, the origin, middle, and destination. The origin is that every department must reduce the amount of waste as much as possible in Reduce, reuse, reuse, and including Recycle. In the middle, every department promotes Separate garbage To make it easier to get rid of garbage and the destination is Local agencies provide waste disposal areas according to academic principles. and speed up the elimination of residual waste.

Source: Thai News Agency

Oct. 13 - Bird's nest concession business in Thailand. There are many in the south. It used to be a business that made a lot of money. both in terms of the grantor and the concessionaire But over the years until now Bird's nest concessions in many areas have become a problematic business. Today we will reveal the problem of the bird's nest concession that has arisen. From the report of Mr. Ploenphit Chusen, presented for viewing as the first episode. – Thai News Agency

Source: Thai News Agency

SET closed today at 1,450.75 points, down 5.24 points (-0.36%), trading value 36,895.02 million baht.

Stock trading today The index was in negative territory for most of the day. The index made its lowest point at 1,448.38 points and made its highest point at 1,459.19 points. As for securities, changes today increased by 191 securities, decreased by 252 securities, and remained unchanged by 193 securities.

Source: Thai News Agency