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.
One million people register on first day of Chim-Shop-Chai program
10 million persons will be able to register themselves to receive a 1,000 baht allowance each in the government’s electronic money mobile application
A total of a million people have registered to join the government’s Chim-Shop-Chai (Taste-Shop-Spend) program, under which each of them will receive a 1,000 baht giveaway to be spent between September 27th and November 30th, on the first day.(more…)
16 countries agree to conclude RCEP talks by end of this month
The final round of RCEP talks in Danang, Vietnam, is scheduled from September 19 to September 27 for senior officials to prepare various agenda pertaining to goods, services and investments
BANGKOK, 9 September 2019(NNT)-The 51st ASEAN Economic Ministers Meeting has agreed that the final round of the Regional Comprehensive Economic Partnership (RCEP) talks in Vietnam should reach their conclusion by the end of this month.(more…)
Thailand to Produce 2.5 Million Vehicles in 2030
Today there are about 15 million vehicles in Thailand and the Energy Ministry expects to see 1.2 million BEVs and plug-in hybrid electric vehicles within 2036.
Thailand Ecommerce Market: Shooting For Success
At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce...
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing...
How is Thailand Bringing Technology to the Table?
In Asia, a country like Thailand has taken the initiative to implement agricultural biotechnology in its industry. The country has...