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What's new in business news: August 27, 2013

What's new in business news: August 27, 2013

27 สิงหาคม 2556

Protesting rubber farmers stop southern trains, no change in high govt rice price & exports fall but will recover soon.

Protesting rubber farmers stop southern trains, no change in high govt rice price & exports fall but will recover soon.

What's new in business news: August 27, 2013

Government officials held talks with rubber and oil palm farmers in Nakhon Si Thammarat province. The farmers are demanding the government shore up the prices of their crops. (Photo by Nucharee Rakrun)

AGRICULTURE

Rubber farmers halt southern trains

27/08/2013

Online Reporters

What's new in business news: August 27, 2013

Protesting rubber farmers block railway in the south.

Negotiations between the government and protesting rubber farmers in Nakhon Si Thammarat collapsed Monday.

On Tuesday morning the protesters scaled up their protests as they had threatened and blocked the railway in Nakhon Si Thammarat, halting the southern train service system.

Three Bangkok-bound trains and an international train service from Singapore to Malaysia and Bangkok, also had to stop at Hat Yai railway station.

If the protesters refuse to reopen the railway to trains on Wednesday, air-conditioned buses will be arranged to take passengers to their destinations and all passengers will be reimbursed with the ticket costs.

[Read full story here and here ]

AGRICULTURE

Govt agrees to keep rice-pledging price

The government has bowed to a proposal by rice farmers, agreeing to maintain pledging prices in the 2013-14 season.

For the main crop, the government will only buy paddy with no more than 15% moisture content at 15,000 a tonne up to a maximum of 350,000 baht per household down from 500,000 per household last season. Jasmine paddy rice will be purchased for 20,000 baht per tonne.

For the second crop, the government will buy paddy with no more than 15% moisture content for 13,000 baht per tonne up to a maximum of 300,000 baht per household.

The new prices will ensure the government spends less than in previous years with losses coming to 80 billion to 100 billion baht.

[Read full story here ]

ECONOMICS

Exports fall but will recover soon

Exports fell for the third month in a row in July but authorities remain positive that they will recover over the next two months thanks to higher purchase orders for Christmas and New Year celebrations.

Weak global demand was the main cause with slowdowns in China and the United States and the euro zone was still in recession last month. Political turmoil in the Middle East and Africa was another factor.

Exports to China in July fell by 5.3% from a year earlier, compared with June's 16.7% decline. The only markets showing growth were Southeast Asia (at 8.6% growth) and South Asia (at 9.8% growth). 

Export competition among Asian countries is intensifying as each country has a supply glut.

[Read full story here ]

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