Connect with us

Business

Thailand to monitor prices of fishery products

Processed seafood products are important exports for Thailand, generating revenue of as much as 185 billion baht per year for the country. Thailand is the world’s No. 1 exporter of canned tuna and processed sardines.

National News Bureau of Thailand

Published

on

BANGKOK, 4 July 2019(NNT) – The global economic slowdown has affected people’s purchasing power worldwide, but there have been no reports so far of the smuggling of fishery products which could affect prices in the Thai fishing industry .

Ms. Chutima Bunyapraphassorn, Deputy Minister of Commerce, confirmed today that the overall global economy remains in a slowdown, resulting in a decline in the overall prospects of many products including fishery products.

This can be seen from the GDP figures that decreased from 3.8 percent in 2017 to 3.6 percent in 2018, directly affecting the purchasing power of consumers and causing the prices of many agricultural product types in the market to drop.

As for a decline in the seafood industry, she stated that the Ministry of Commerce has cooperated with the Department of Fisheries and related agencies to monitor the Thale Thai Market, the largest wholesale market of fishery products in the country, accounting for as much as 70 percent of sales.

It was found that increased imports of fish and related sea creatures include a group of aquatic products which are processed for export and are sold at restaurants, such as mackerel, salmon, trout, cod, etc.

Since they are not otherwise available in this country, they don’t affect the prices of aquatic creatures caught by Thai fishing boats. Imports of octopus have also increased slightly compared to the same period last year.

Although the statistics don’t indicate that imports are unusually high, she has advised that the Ministry of Commerce has measures available to cope with the issue if the volume of imports of legal fishing products that are not IUU related, being brought into Thailand becomes unusually high and begins to affect the prices of the domestic fishing industry.

Processed seafood products are important exports for Thailand, generating revenue of as much as 185 billion baht per year for the country. Thailand is the world’s No. 1 exporter of canned tuna and processed sardines.

Source link

Advertisement
Comments

Banking

Governments most exposed to coronavirus have strong fiscal and external buffers

Moody’s baseline assumption is that the economic effects of the outbreak will continue for a number of weeks, after which they will tail off and normal economic activity will resume.

Boris Sullivan

Published

on

As measures to contain the coronavirus and fear of contagion hit consumption and production, downside risks to our GDP growth forecast for China (A1 stable) have increased., says Moody’s Research Announcement.

(more…)

Continue Reading

Banking

Bank cuts Thai 2020 GDP growth outlook to 2.7%

SCB’s Economic Intelligence Center (EIC) has released its latest growth forecast, at 2.7 percent, showing a slow recovery from just 2.5 percent economic growth in 2019

Boris Sullivan

Published

on

SCB cuts GDP growth forecast to 3.1%

SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020 will have grown by 2.7 percent, showing a s recovery from just 2.5 percent economic growth in 2019, thanks to a better performing export sector and improved global economy.

(more…)

Continue Reading

Business

BOI steps up investment promotion measures in the EEC

The measures will be in effect from January 2, 2020, to December 2021. Applicants can sign up for the new privileges, with no deadline set for registration.

National News Bureau of Thailand

Published

on

BANGKOK(NNT) – The Board of Investment of Thailand (BOI) has approved measures to promote investment in the Eastern Economic Corridor (EEC) by expanding the number of target industries and increasing corporate income tax benefits.

(more…)

Continue Reading

Must Read

Press Release

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 12,317 other subscribers

Upcoming Events

Wed 08

Global Public Health 2020

April 8 @ 8:00 am - April 9 @ 5:00 pm BMT
Mon 13
Fri 17

2nd International Conference on Nanomedicine and Nanotechnology

April 17 @ 9:00 am - April 18 @ 5:00 pm BMT
Jun 22

6th International Conference on Neuro-Oncology and Brain Tumor

June 22 @ 9:00 am - June 23 @ 6:00 pm BMT
Jul 20

40th Asia pacific nursing and medicare summit 2020

July 20 @ 9:00 am - July 21 @ 6:00 pm BMT

Trending