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Baht/$ 33.39/42
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GOLD |
14,650
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IN Brief
COMMODITIES : The price of Thai 100% Grade B white rice, the world's benchmark, fell 6.5% yesterday from last week due to continued weak demand, exporters said.
The median price quoted by exporters was $720 a tonne, down from $770 last week and 33% below a record high of $1,080 per tonne in April.
"Supply is increasing while there's no fresh demand after the last big lot of 600,000 tonnes that the Philippines bought from Vietnam," one exporter said.
Traders expect local rice prices to fall over the next few weeks to $700 a tonne - the equivalent of the 14,000 baht the government has guaranteed to pay farmers for paddy.REUTERS
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B50bn revenue goal
PROPERTY : The Land Department expects to collect 50 billion baht in revenue this year from about five million people making land transactions through the department.
For the first seven months of fiscal 2008 (to April 30), the department earned 32.32 billion baht, of which 11.35 billion came from fees, 9.28 billion from withholding tax, 10.2 billion baht from special tax and 1.48 billion baht from stamp fees.
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Efficiency upgrade
LOGISTICS : The Commerce Ministry will team up with private companies to set up a central company to run logistics management, likely within three months, according to Deputy Commerce Minister Wiroon Techapaiboon.
The new company would be a joint venture involving the ministry and truck, air and marine transport operators and freight forwarders.
He said the new firm was expected to help reduce transport costs by at least 0.5% of gross domestic product. Currently, logistics represents about 19% of GDP, several points higher than in most developed economies.
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Upgrade for EFAI
ENERGY : Tris Rating has upgraded the rating of the Energy Fund Administration Institute's (EFAI) issue of 8.8 billion baht in senior bonds (EFAI08OA) to AA from AA- with a stable outlook.
The upgraded rating is based on EFAI's accumulated cash reserve in the escrow account, which is equal to its outstanding debt servicing obligations, including principal and interest. This cash can be used only to pay senior bond obligations.
In addition, the rating reflects the expectation that the EFAI will continue to receive strong government support, as one of its main aims is to raise funds to enable the Oil Fund to stabilise retail oil prices.
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