Vegetable prices rise with heat in hot season

Somjai Pikulthong, a beverage and fruit juice vendor in Central Pattaya, says wholesale prices for fruit have gone up, some almost double.

Jetsada Homklin
Hot weather is also raising the temperatures of shoppers facing vegetable prices that have doubled since last month.
Kale went from about 20 baht a kilogram to more than 40. Lettuce jumped to 29 baht per kg. from as little as 16 baht. Also less extreme, increases in coriander, green mangoes and tangerines were 25 percent or more.
Only seasonal fruit, such as yellow mangoes and mangosteens, saw prices decline, some by more than half.
Somjai Pikulthong, a beverage and fruit juice vendor in Central Pattaya, said her revenues jump 30-40 percent every summer because of the heat, but her profits dive, due to higher wholesale costs.
Certain vendors opt to not use lemons in their beverages because it is not worth the extra cost. When the rain sets in, prices will return to normal, she said.

Amazing Thailand Grand Sale 2014 to be biggest ever

A record 15,000 establishments in seven of Thailand’s most important tourism cities are participating in the “Amazing Thailand Grand Sale 2014”, which will be held from 15 June to 15 August, 2014, making it the biggest ever.
The Tourism Authority of Thailand (TAT) has launched a special website to promote the annual shopping event, which will be held in Bangkok, Chiang Mai, Phuket, Hat Yai, Pattaya, Hua Hin and Samui. Participants include department stores, shopping centers, accommodation, spa and beauty, golf courses, entertainment centers and restaurants.
The website (www.thailand shoppingparadise.com) of this year’s Grand Sale includes a Shopping Tips feature to help visitors get better deals, understand the VAT refund process and avoid buying sub-standard products. A special section has also been created to promote the locally-made OTOP products, income from which goes a long way towards boosting rural income and supporting local artisans.
As in previous years, the Grand Sale is designed to boost tourism and visitor expenditure, further building the image of Thailand as a major shopping destination, and contributing to job creation and distribution of income nationwide.
TAT Governor, Thawatchai Arunyik said, “This year’s Grand Sale has a special meaning because it will be an important part of our tourism recovery strategy for 2014. This campaign will help provoke an income to tourism sectors and entrepreneurs in the participating areas and we hope visitors will take full advantage of the great discounts.”
There are two activities during “Amazing Thailand Grand Sale 2014” as follows:
Up to 80% discounts at department stores, shopping centers, shops, spas, hotels and other Grand Sale participants.
Amazing Thailand Grand Sale Shopping Challenge; On June 18, 2014, well known celebrities in various fields from Asian countries will have a shopping competition in participating complexes and centers. A total of 15 teams from Malaysia, Indonesia, Singapore, the Philippines, India, Vietnam, Cambodia, Myanmar, Taiwan, China, Japan and Korea are competing this year. The winning team will receive a cash prize of 100,000 baht.
This year’s Grand Sale has been enhanced by two lucky-draw prizes of “Travel 365 days in Thailand” for two couples (one from abroad, one local) to enjoy a trip within Thailand. Visitors will get a coupon from participating partners, which upon expenditure of every 500 baht by cash or any credit card at any one place. However, if they pay by VISA card, they will get two coupons.
The coupons can be dropped into the lucky draw drop box. The winning couples will get free Thai Airways’ return air-tickets and Centara’s hotels & resorts chain. As for the prize, the winning couples can take their trip any time within 365 days.
TAT estimates that tourist spending on shopping via credit cards alone will grow by 20% over last year.
In 2013, Thailand attracted 26.5 million international visitors, a growth of 27.03% over 2012.
For further details, please check out www.thailand shoppingparadise.com
Facebook: Thailandshopping paradise
Available on the App Store and Google play; Thailand shoppingparadise

Special offer for CIMB Membership Credit Card holders at Amari Pattaya

Amari Pattaya in cooperation with CIMB Bank presents a special offer for the CIMB Membership Credit Card, with discounts up to 15%. Just book via www.amari.com and put the promocode: CIMB2014. Take a break from routine and allow us to make an impressive stay for your entire family at Amari Pattaya, with a perfect location close to the beach.
Amari Pattaya has separated the accommodation style for this promotion into two offers:
Amari Garden Pattaya: Get a 10% discount when making a booking seven days in advance at www.amari.com/garden-pattaya, with room prices starting at THB 2,760.
Amari Ocean Pattaya: Get a 10% discount when making a booking seven days in advance or a 15% discount when making a booking 14 days in advance at www.amari.com/ocean-pattaya, with room prices starting at THB 3,220.
This special promotion starts now and runs until 31 December 2014.
For more information, please contact Amari Pattaya at +66 (0) 3841 8418.

Special Report: BoT says Thai economic fundamentals are strong

The Bangkok of Thailand (BoT) says Thailand has a very strong economic foundation despite the heavy costs of political unrest.
Talking about the recent economic developments and outlook of the Thai economy, Bank of Thailand Governor Prasarn Trairatvorakul said that, in 2013, Thailand did not benefit from exports as much as expected, due to the weak global economic recovery and domestic supply constraints. Furthermore, tourism was seriously affected by the political crisis. Economic performance in the first quarter of 2014 was also unsatisfactory.
However, Dr. Prasarn pointed out that a second quarter of negative growth is unlikely to occur, as the latest economic data for March 2014 suggests that growth may have reached the lowest point. Furthermore, a so-called “technical recession” would occur only if economic fundamentals simultaneously deteriorated, which is a lengthy process. To date, this situation does not apply to Thailand.
He further explained that the country’s financial volatility is well-contained amidst the economic slowdown. Exchange rates have been relatively stable and international reserves have remained high, reflecting a certain degree of confidence among foreign investors and appropriate exchange rate management. Inflation expectations are firmly anchored, allowing monetary policy some room to address the downside. Thailand benefits from this stability because consistent macroeconomic policy commands credibility from the public.
He added that the unemployment rate in Thailand is low and stable, leaving households with enough purchasing power to start spending again when the economy rebounds. Greatly adding to the strength of domestic purchasing power is the export sector. Global recovery has become firmer, as recent economic indicators reflect the more resilient recovery in advanced economies.
The overall impact for Thailand is that exports are still expected to be the country’s main engine of growth in 2014. The risk to watch out for concerning exports stems again from the monetary policy changes of advanced economies. These policy changes could cause an economic slowdown in ASEAN and China, further affecting Thai exports to these countries. However, this type of risk is still remote. Dr. Prasarn stated that other fundamentals included Thailand’s location and workforce advantages. Thailand is located in the center of ASEAN and has well-developed logistics. It serves as a hub for trade with the CLMV countries - Cambodia, Lao PDR, Myanmar, and Vietnam. This presents an opportunity to access fast-growing markets.
As for the workforce, Thailand’s semi-skilled labor fills an important niche in the world market. The return to net inflow of foreign investment since the beginning of April 2014 indicates the return of foreign interest in Thailand. However, Thailand’s structural improvement has a long way to go. Furthermore, economic fundamentals may be eroded if political uncertainty and global risks intensify. (NNT)

BOT: bank loans growth slowed down in Q1 2014

The political situation weighed on the economy and resulted in a slowdown in bank lending in the first quarter of the year, according to the Bank of Thailand.
Anupap Kuvinichkul, senior director of the BOT’s Financial Institutions Strategy Department, disclosed that lending by commercial banks expanded 9.8% in the first quarter. This was less than the 11% expansion during the same period of the previous year. Business loans grew 9.4%, whereas lending to SMEs expanded 11.7%. This was the first quarter of reduced growth, after a period of continued expansion over the last 2-3 years.
Consumer loans grew 10.7%, which was lower than the 12.9% growth experienced in the fourth quarter of last year. At the same time, the quality of loans was trending lower - non-performing loans have increased to 279.8 billion baht, or 2.3%.
Anupap, however, indicated the 9.8% expansion of bank loans still exceeded the country’s GDP expansion, and should not prove to be an obstacle toward the recovery of the economy. (NNT)

Makro Food Services opens outlet in Pattaya

Deputy mayors Wattana Chantanawaranon and Ronakit Ekasingh help cut the ribbon on the Makro Food Services on North Pattaya Road with Suchada Ittisatukul, president of Siam Makro PCL.

Urasin Khantaraphan
Makro Food Services cash-and-carry retail chain opened its second location in Pattaya, focusing on the restaurant industry.
Deputy mayors Wattana Chantanawaranon and Ronakit Ekasingh helped cut the ribbon on the Makro Food Services on North Pattaya Road May 14 with Suchada Ittisatukul, president of Siam Makro PCL.
Makro Food Services General Manager Thittikan Phunsawat said the growth of the restaurant industry in Pattaya prompted the opening of the center for food-service companies to buy supplies in bulk.
Four other Food Services outlets already operate in Hua Hin, Phuket and Koh Phangan. The Pattaya branch offers more than 5,000 items including frozen products, dried foods, seasonings, meat, eggs, salads, cheese, bakery and food-storage units.
“The location of the store is near to restaurants hence, foreign and Thai restaurant owners can purchase raw materials and necessary items conveniently and rapidly, saving time, reducing daily expenses of travelling, and decreasing the requirement of stocking products,” Thittikan said.
The store is open daily from 6 a.m. to 9 p.m. Call 038-308-8938 for information.