Higher inflation acceptable

Rice price hike for Thai consumers to raise incomes for Thai farmers. Exports may not reach target when prices rise to $800 from $550.

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Big rise in rice export price inevitable by Phusadee Arunmas

Commerce Minister Kittiratt Na-Ranong has vowed to proceed with the Pheu Thai Party's election promise to buy paddy rice from farmers at 15,000 baht a tonne, while conceding it could increase the export price of Thai rice to US$800 a tonne, from $550 this week. 

He asked consumers to support the scheme because it would raise incomes for farmers. 

"Domestic rice prices might escalate, but be sure the government will assist consumers to cut expenses on other goods through Blue Flag shops," he said.

Blue Flag is a programme under which the Commerce Ministry has tried to encourage manufacturers and suppliers to sell products at lower prices in different locations and during different periods.

There are 4,300 Blue Flag food shops, and the ministry plans to raise the number to 6,000 this year.

Mr Kittiratt said the high cost of food and increased minimum wage might affect the real sector and export growth, which was projected earlier at 15%.

"It is not the end of the world if exports do not reach their projection," Mr Kittiratt told members of trade associations including the Thai Chamber of Commerce on his first day as commerce chief .

He believes that if Pheu Thai's economic pledges are implemented, the economy will expand by an additional one percentage point early next year.

He also downplayed the expectation of high inflation due mainly to rising food costs.

"A little rise in the inflation rate is acceptable. People have to change their attitude toward the matter," he said. 

But with new support measures next year, he is confident exports will expand by 15% year-on-year.

Korbsook Iamsuri, president of the Thai Rice Exporters Association, asked the government to sell rice in its stocks regularly once the pledging programme is reinstated.

"Exporters prefer to see transparent rice deals from the government, as well as favourable conditions for small operators such as small lot sales, at about 5,000 to 10,000 tonnes," she said after meeting with Mr Kittiratt.

Pornsil Patcharintanakul, deputy secretary-general of the Thai Chamber of Commerce, encouraged support for businesses to offset higher costs from wage and salary hikes Pheu Thai is proposing.

(Source: Bangkok Post, Big rise in rice export price inevitable, 18/08/2011, Phusadee Arunmas, link) 

domestic - inside the country
domestic rice prices - rices prices inside the country

inevitable - will happen for certain in the future, unavoidable ซึ่งหลีกเลี่ยงไม่ได้

vowed - promised
proceed - to continue as planned ดำเนินการ
vowed to proceed - promised to start a project (some think he won't)

election - the process of choosing a person or a group of person for a position, especially by voting elect (v) electoral (adj) synonym: the polls การเลือกตั้ง

paddy rice - rice after it has been harvested from the field  ข้าวเปลือก

conceding - accepting the fact that something is true (that is not good for you or your argument, in a debate, but it looks good to concede at least a few points in a debate)

consumers - people who buy goods and services (individuals and families)

support - help, by giving money, for example สนับสนุน
scheme - a plan that is developed by a government or large organisation in order to provide a particular service for people แผนการ โครงการ

escalate - to become much greater ทำให้มากขึ้น
encourage - make people interested in and excited about doing an activity ปลุกใจ

ministry - a government department dealing with an area of activity กระทรวง

wage - an amount of money that you earn for working, usually according to how many hours or days you work each week or month ค่าจ้าง
minimum wage - the smallest amount of money that a company can legally pay a worker for one day's work

sector - a part of the economy ภาค (เศรษฐกิจ) (public sector = government, private sector = all businesses, household sector = families and consumers, banking sector,...) (See Wikipedia)
real sector - the "private sector" of businesses producing goods and services (that are owned by stockholders and business people not the government) 

projected - what people believe it will in the future

it is not the end of the world - (idiom) meaning: it will not be as bad as people think

projection - a calculation or guess about the future based on information that you have การคาดคะเน

trade - the buying and selling of goods การค้าขาย
trade associations - organizations of business people that represent their interests

commerce - the activity of buying and selling goods
economic pledges - the promises made about the economy

implemented - when a plan is put into action, actually doing the things in a plan
expand - to become larger ขายตัวออกไป

inflation - the level of prices rising in the economy as a whole (See Wikipedia and The Economist glossary) ภาวะเงินเฟ้อ
downplay - to talk about something in a way that makes it seem less important
downplayed the expectation of high inflation - speaking so as to make people believe that higher inflation is not likely or so important

attitude - the way you think and feel about something, as shown in behaviour
matter - a situation or subject which is being dealt with or considered เรื่อง, ภารกิจ, งาน something that you are discussing, considering or dealing with สิ่งที่พูดถึง ประเด็นที่พูดถึง

measures - actions taken to deal with a problem มาตราการ

confident - being certain of your abilities or of having trust in people, plans, or the future มั่นใจ

year-on-year - the value for a period this year compared to the same period last year

stocks - large amounts stored for future use

reinstated - when a government is started again  (after having been stopped)

transparent - not keeping anything secret; keeping everything open; can see what is going on, nothing hidden โปร่งใส
operators - businesses doing this business

lot - a group or set of things or people
small lot sales - sales of small amounts

meeting - when a group of people come together to discuss issues and make decisions การประชุม

deputy - a person who is given the power to do something instead of another person, or the person whose rank is immediately below that of the leader of an organisation รอง, ตัวแทน,ผู้รักษาการแทน
encouraged - having more confidence or hope about something มีกำลังใจ

offset - move in the opposite direction, reduce by moving in the opposite direction, counter-balance, compensate in the opposite direction ("x offsets y" means "x reduces the effect of y"), make up for (profits from the manufacturing business offset losses from the retail business) (See glossary)

salary - a fixed amount of money that you earn each month or year from your job เงินเดือน