The rare advent of two vegetarian festivals this year is likely to push up the prices of dishes at the two celebrations by 5-10%, according to the research centre of the University of the Thai Chamber of Commerce (UTCC)
A woman arranges her vegetarian food for sale during the vegetarian festival in 2013. (Bangkok Post photo)
Thanavath Phonvichai, the university’s vice-president for research, said a survey of consumer spending during vegetarian festivals projects spending of 41 billion baht for the first festival, from Sept 24 to Oct 2.
The second festival, from Oct 24 to Nov 1, is expected to bring spending of 10.26 billion baht.
The double spending splurge would likely bring in a total of 51.26 billion baht, the highest in seven years, he said.
The university expected the price of food at the festivals could rise by 5-10% over prices in 2013.
“The Thai economy is still dull due to the fall in farm prices, especially rubber, slow exports and floods in some areas. This means liquidity in the system is still low,” he said.
A survey of respondents who intend to take part in the festivals for the first time said they wanted to make merit (48.6%), reduce meat consumption (25.2%), follow the fashion (11%) and to keep their promises (15.2%).
According to Mr Thanavath, the last time there were two vegetarian festivals in the same year in Thailand was 182 years ago.