News feed
Play
Recommended prices for rice trading soon
The Internal Trade Department will announce “recommended prices” for rice trading in the market on November 1 to ensure that millers purchase the grain at higher than the market price.
Boonyarit Kanlayanamit, director-general of the department, said yesterday that the recommended price for paddy rice will be higher than the market by Bt100-Bt200 per tonne. This is aimed at helping rice farmers avoid suffering price plunges during the harvest season.
Surin urges reforms ahead of Asean integration
Former Asean secretary-general Surin Pitsuwan yesterday urged Thailand to accelerate the reform of human resources and the government system to ensure a smooth move towards Asean integration and prepare for a fluctuating global economy.
At the “Thai economy in Asean” seminar organised by the University of the Thai Chamber of Commerce, Surin said that with tougher competitiveness under Asean integration, Thailand could not draw large investment like other countries because of human resource and transparency problems.
The government should increase efficiency in the agricultural industry, as farm product developm ent was slowed by the populist policies in the past.
Foreigners ‘confident’ in Thai bourse
The Stock Exchange of Thailand has moved beyond its fundamentals, which has prompted technical profit-taking, but is still gaining foreign investors’ confidence after recent roadshows, said SET chairman Sathit Limpongpan.
The SET Index is expected to move with volatility for a while, he said, adding that the exchange had not yet introduced measures to curb irregular speculations, given sufficient efficiency of current measures and investors’ caution.
Meanwhile, the Government Pension Fund has not adjusted its investment portfolio in Thai stocks, despite recent sharp rises in their prices.
SET president Kesara Manchusree expressed little concern over the recent declines in the Thai bourse, believing these resulted from foreign economic problems. She agreed that foreign investors were still confident in Thai stock market.
