Energy prices will push production costs up 10-20% in 3-6 months: FTI survey
Most Federation of Thai Industries (FTI) operators’ incomes have been reduced by 10-20 per cent while production costs will increase by 10-20 per cent in the next 3-6 months thanks to rising global oil prices as well as container shortages and high freight rates, vice chairman Wirat Uanarumit said according to a November FTI survey.
The FTI has recommended that the government provide assistance in the face of increasing energy prices, freeze electricity prices and reduce electricity and water bills to alleviate the economic impact of both business people and the public.
It also urged entrepreneurs to use technology to increase efficiency in production and product development to maintain competitiveness of the industrial sector.
