Rubber plantations hit worst in floods

The research unit of TMB Bank said in its report released yesterday that the floods that have swept the South since January 2 are expected to wash away business in various industries including farming, fishing and tourism.
Rubber planters have been hit the hardest due to the incessant downpours, inundation and cut-off transportation, which resulted in a 281,000-tonne or 6.3-per-cent reduction in the country’s annual output valued at Bt19.12 billion. 
Rubber sheets, bars and concentrate factories have had to suspend operations. Palm oil output is expected to be cut by more than Bt500,000 tonnes, accounting for 4.8 per cent of the country’s annual production, valued at Bt2.94 billion. 
Shrimp output is predicted to decline by more than 4,500 tonnes, or Bt838 million, and will take three to four months to recover. Since small fishing boats are still not allowed to go out to sea, the fishery industry is expected to lose Bt751 million. 
Even though the flood impact was mainly felt on the eastern coast, western coastal provinces, which are entering the high season, will also hurt because some tourists may feel insecure and cancel or postpone their travel plans, causing an estimated impact of Bt3.5 billion.
The southern economy is expected to recover fast thanks to the urgent spending of people to restore their property and the government’s budget, as well as the rally in rubber prices.

VOLVO UPBEAT ON TRUCK

Volvo is confident the heavy-duty truck market will continue to grow this year for the second in a row after the market plunged in 2014. Kamlarp Sirikittiwatn, president of Volvo Group (Thailand), said yesterday that the heavy truck market expanded by about 7 per cent last year after diving by more than 20 per cent.