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Southeast Asian steel manufacturers, producers meet in Pattaya
Thanachot Anuwan
Steel manufactures and related companies reviewed regulation,
technology and market prospects as the Southeast Asia Iron & Steel Institute
met in Pattaya.
Industry Ministry Permanent Secretary Withun
Simachokdee begins the meeting of the Southeast Asia Iron & Steel Institute.
Withun Simachokdee, permanent secretary of the Ministry of Industry kicked
off the June 3-6 meeting at the Dusit Thani Hotel with more than 200
international participants.
Seminar topics covered regulation, potential growth for the steel industry,
technological development and educational meetings on increasing use of
“eco-friendly” steel.
While world steel demand is expected to increase less than 3 percent this
year, Thailand - with it large automobile-manufacturing base - has seen
annual growth of more than 15 percent since 2010.
With the construction, canning and manufacturing sectors now roaring back to
life after several year’s economic downturn, Thailand is poised to lead the
Southeast Asian region in steel production and demand, Thai officials said.
Much of Thailand’s steel-industry focus, however, has been on environmental
initiatives, such as “eco-friendly” production, environmental products and
green procedures.
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Rubber futures fund underway to create price stability
Seven state agencies and private firms will jointly set
up a rubber futures fund with an initial investment of Bt210 million to buy
at least 42 billion tonnes of the agricultural commodity in July, according
to a deputy commerce minister.
Yuttapong Charasathien said each of the seven parties will contribute Bt30
million to set up the fund, which should be engaged in 300-400
buying/selling transactions per day.
The fund will boost investors’ confidence in rubber trading and eventually
promote Thailand as a rubber trading and price-control hub, he said.
Thailand produces 3.5 million tonnes of rubber each year and a price
increase of only Bt1 per kg will increase rubber planters’ revenue by Bt35
billion, he said.
Yuttapong said the Agricultural Futures Exchange of Thailand (AFET) has
officially agreed to the proposed fund which will be joined by the
state-owned Rubber Estate Organization, the International Rubber Conference
Organization, Thai Hua Rubber Co, Sri Trang Agro-Industry Co, Thai Rubber
Latex Corporation (Thailand), Southland Rubber Co and Von Bundit Co.
He predicted rubber prices would be adjusted to Bt110 per kg after the
launch of the fund in July. (MCOT)
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Varathep defends
Commerce Ministry
on losses from rice
pledging scheme
Minister of the Prime Minister’s Office Varathep Ratanakorn insisted that
losses from the government’s rice pledging scheme were not as high as Bt260
billion as widely reported.
 He said the Finance Ministry’s accounting assessment sub-committee and the
Commerce Ministry had different calculation methodologies for the losses
from rice purchases over the past three harvest seasons.
The government spent Bt118.655 billion to purchase 6.92 million tonnes of
paddy from the 2011/12 crop, he said, adding that the Commerce Ministry and
the Finance Ministry reported losses at Bt31 billion and Bt42 billion
respectively.
In the 2011/12 second harvest, the minister said 14.6 million tonnes of
paddy were bought at Bt218 billion and losses as reported by the Commerce
Ministry and the Finance Ministry were Bt18 billion and Bt93 billion
respectively.
He said Bt155 billion was spent to buy 9.9 million tonnes of rice in the
2012/13 harvest season but the final calculations have yet to be completed.
(MCOT)
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6% Thai export growth highly possible
Thailand will achieve a 6 percent growth in exports if
the baht is stabilized and moves alongside regional currencies, Federation
of Thai Industries (FTI) chairman Payungsak Chartsuthipol said last week.
He said exporters in either small or big industries are less worried given
the positive developments regarding the economy and currency exchange rates.
Gross domestic product (GDP) should expand by 5 percent, he said, qualifying
his view by calling on the government to improve Thailand’s competitive edge
and find new markets for Thai products.
Payungsak said the baht, though weakened, remains 1-2 percent stronger than
the Indian and Malaysian currencies.
Atchana Limpaitoon, Thai Auto-Parts Manufacturers Association (TAPMA)
president, said the Commerce Ministry’s export growth forecast at 5 percent
is possible given the Thai exchange rate at Bt30-31 against the dollar.
The TAPMA predicted this year’s export growth at 5-8 percent, she said.
(MCOT)
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