Connect with us
The clever new way to send money abroad

Markets

Strong baht is only for the near term says Commerce Minister

Published

on

Thailand currency

Commerce Minister Porntiva Nakasai said the baht would be stronger only for a short period following a flood of investment into the stock market.

She maintains export value can still meet the 14-per-cent growth target previously forecast for this year. In the first quarter alone, exports look set to grow 20 per cent to US$40 billion (Bt1.29 trillion).

However, she admitted export growth could slow in the second quarter if the baht remained too strong for long, because it would create problems for exporters trying to do business.

Thai Rice Exporters Association president Chookiat Ophaswongse said Thai rice exporters faced greater difficulty competing with Vietnamese exports, due to the widening price gap between the two countries' rice.

“Vietnamese rice is much cheaper than Thai rice, by $80 to $100 per tonne. Vietnam's dong is 8-per-cent weaker than the baht. Thailand will definitely lose export share in many countries that prefer cheaper rice,” he said.

via Strong baht is only for the near term: Porntiva.

Click to comment

Leave a Reply

Markets

Thai Mango growers complain of low prices and fewer exports

Because of the global COVID-19 pandemic, their mangoes are not being exported, due to fewer buyers, and their prices have plunged to between 10 and 20 baht per kilogram, depending on size.

Published

on

Mango orchard owners in Thailand’s northern province of Phitsanuloke are seeking help from the provincial administration to promote the sale of their sweet fruit, particularly Barracuda Mango variety.

(more…)
Continue Reading

Investment

Foreigners’ Participation in Thai Listed Companies explained

Special vehicles have been created to facilitate foreign investors so that they are able to invest in Thai
securities flexibly and conveniently.

Published

on

Similar to foreign business laws existing in most Asian countries, Thai laws have imposed restrictions on foreign ownership of Thai companies.

(more…)
Continue Reading

Most Read

Recent