Thailand Bans Export of Raw Palm Oil
Commerce Ministry temporarily banned the export of raw palm oil, focusing on effective stock management after the production is reduced due to the drought and plant diseases.
Commerce Ministry temporarily banned the export of raw palm oil, focusing on effective stock management after the production is reduced due to the drought and plant diseases.
The Minister of Commerce revealed Thailand’s latest export figures for August 2023, showing a positive turnaround in the 11-month period for the first time after several consecutive months of negative export performance.
The governor of the Bank of Thailand (BOT) expects the gross domestic product will increase by 3.3% this year and 4.2% next year while the number of visitors is rising faster than anticipated and should reach 6 million throughout this year.
Thailand saw higher exports and numbers of foreign arrivals, said Prime Minister and Defence Minister Gen Prayut Chan-ocha.
Agriculture and Cooperatives Minister Chalermchai Sri-on opened the “Eastern Monthong Best Quality” fair to promote Monthong durian export.
The first cargo train fully loaded with Thai durian has arrived in China through the new Chinese-Lao railway service.
The value of Thai exports increased by 16.2% year-on-year in February and had not been affected by the Russia-Ukraine war yet, Commerce Minister Jurin Laksanawisit said.
Thailand was the world’s biggest exporter of fresh durian fruits with the record export value of US$934.9 million in May, up by 95.3% year-on-year, according to Kasikorn Research Center.
Thai exports grew by 2.87% year-on-year in February, rising for the third consecutive month, as COVID-19 vaccination was easing global concerns on the pandemic, according to the Commerce Ministry.
The chief of the Department of International Trade Promotion expects export to grow by 4% next year.
The novel coronavirus heavily hit the production and export of Thai automobiles and the production plunged by 35.53% year-on-year last month.
The Thai economy improved in the third quarter this year but is facing risks from COVID-19, local politics and labor problems, according to the Bank of Thailand (BoT).