BANGKOK, 10 February 2014 The Thai Retailers and Wholesalers Association has indicated a decline in sales among retail businesses outside Bangkok as a consequence of financial limitations among farmers who have not been paid for their pledged rice.
Following an evaluation of the overall situation of domestic trade, President of the Thai Retailers and Wholesalers Association Somchai Pornrattanacharoen revealed that problems had been detected in some provinces where farmers engaged in the government’s rice pledging scheme had not received their money. He elaborated that purchasing power of those unpaid farmers was weakening and retail businesses in the agricultural sector were receiving an impact as a result.
Mr Somchai voiced his belief that the Thai economy in the first quarter of this year would post a lower growth than projected by many agencies. He said, with the export and tourism sectors already damaged, it remained to be seen whether the current political deadlock would create an even larger ripple effect on the economy.
Lastly, the president called on the government to quickly put an end to the political problems by committing more seriously to finding the solutions. He also suggested Cabinet ministers and high-ranking civil servants to spare some of their salaries to help the troubled farmers