What's new in business news July 30th, 2013 | Bangkok Post: learning

Learning > Learning From News (เรียนภาษาอังกฤษจาก ข่าวบางกอกโพสต์)

What's new in business news July 30th, 2013

Level switch:
  1. Advanced
- +

First rice auction finished, drought, disease lower farm sector growth & Laem Chabang port's plans for expansion. 

AGRICULTURE

First rice auction finished  

More than 200,000 tonnes of rice will be auctioned next week, following the first bid in two years of 60,000 tonnes two weeks ago.

The government disclosed the results yesterday of the first rice auction called by the Commerce Ministry, which drew five interested bidders.

60,000 tonnes of 5% white rice from six warehouses were sold. 

The minister refused to disclose the prices, saying only the auction fetched decent prices higher than the benchmark set by the committee that handled the government's rice stock sales. He said disclosing the price would affect sales in future auctions.

However, a rice industry source said the winners might have proposed to buy the grains for under 12,000 baht per tonne. If this was the case, the auction would have realised losses worth 11,500 to 12,000 baht a tonne.

The losses are based on the government's estimated spending on rice via its pledging scheme of about 24,000 baht per tonne.

It is believed the state holds up to 17 million tonnes of unsold rice.

Commerce Ministry statistics as of July 25 show Thailand has shipped 3.6 million tonnes this year.

AGRICULTURE 

Drought, disease crimp farm outlook

The Agriculture Ministry cut its growth forecast for Thailand's agricultural sector from 4% to a range of 1.5% to 2.5%.

The sector expanded by only 0.4% in the first six months. The ministry blamed the drop on the severe drought that hit widespread plantations from late last year until May.

Early mortality syndrome (EMS), which ravaged Thai shrimp farming for several months and cut production by over 40%, was the main reason behind the drop in the fisheries sector.

Other fisheries products were affected by the drought, causing the fisheries sector to contract by 7.1% year-on-year.

Operators estimated revenue losses of 16 billion baht from falling shrimp shipments in the first half, a year-on-year decrease of about 30%.

The export situation is expected to continue to decline due to the weak global economy, with the Thai Shrimp Association braced for a 40% fall in shipments this year.

Crops were the only strong sector in the first half, with a 1.9% expansion from last year thanks to higher production of rice, cassava, oil palm, rubber, durian and mangosteen.

The livestock sector also performed well, especially pigs, thanks to the reduced impact of porcine reproductive and respiratory syndrome.

High demand for chicken meat in Europe and Japan will help shipments to rise by 5% this year. As of May, Thailand exported 219,000 tonnes of chicken products, up 4.7% year-on-year.

TRANSPORTATION 

Laem Chabang container port eager to invest abroad

CHON BURI: Laem Chabang Port is considering options to set up a subsidiary for overseas investment to increase its revenue.

Laem Chabang Port ranks 23rd in the world for container volume with 5.83 million twenty-foot equivalent units (TEUs).

The subsidiary might be a joint venture with the private sector in order to invest in overseas ports such as Dawei in Myanmar.

The World Shipping Council reported PSA Singapore, the Port of Hong Kong and DP World of Dubai were among the top 10 container ports in the world last year in terms of volume.

These three ports invest in many areas worldwide.

Container growth is expected to increase by 3.5% this year due to the slowdown in the world economy, down from an earlier forecast of 7.5%.

The second phase of Laem Chabang port includes seven ports with a capacity of 6.8 million TEUs per year. The last three ports will start construction later this year.

A study and design of the third phase have been completed, but environmental and health impact assessments are pending due to opposition from local communities.

Since the second phase has not reached full capacity yet, the third phase will be constructed when there is demand for it.

It will take three years to construct and two years to seek business operators to invest for the third phase, and it has a planned capacity of 8 million TEUs.

In fiscal 2012, the port generated 6.72 billion baht in revenue, with a 5.08 billion net profit. It targets a 5.16 billion profit this year and 5.19 billion in 2014.

Laem Chabang will invest around 5 billion baht next year, of which 2 billion will be for constructing coastal ports with the rest for a rail link to the port.

http://www.bangkokpost.com/business/news/362121/government-declares-rice-auction-uccess

http://www.bangkokpost.com/business/news/362122/drought-disease-crimp-farm-outlook

http://www.bangkokpost.com/business/news/362123/port-keen-to-invest-in-subsidiary-abroad

Learn from listening

Click "play" to listen to What's new in business news July 30th, 2013 and "Download" to keep this file for educational purpose.

Vocabulary:

abroad: in or to a foreign country - ในต่างประเทศ

auction: a usually public sale of goods or property, where people make higher and higher bids (= offers of money) for each thing, until the thing is sold to the person who will pay most - การขายโดยการประมูล, การขายทอดตลาด

bid: an offer to buy or provide something at a specific price - การประมูล, การให้ราคา, การเสนอราคา

bidder: a person or company who makes an offer to buy/sell something at a specific price - ผู้ประมูล ผู้ยื่นเสนอราคา

blame: to say or think that someone or something did something wrong or is responsible for something bad happening - ตำหนิ

brace: to get ready for something unpleasant - เตรียมใจ

capacity: the amount of something that can be produced or done - ความสามารถในการ (ระบาย, ผลิต etc.)

cassava: a tropical plant with roots that can be cooked and eaten or made into flour - มันสำปะหลัง

coastal: of an area of land beside the sea - แนวชายฝั่งทะเล

committee: a group of people who are chosen, usually by a larger group, to make decisions or to deal with a particular subject - คณะกรรมการ

community: the people living in one particular area - ชุมชน

consider: to give careful thought to something before making a decision - พิจารณา

construction: the work of building or making something, especially buildings, bridges, etc. - การก่อสร้าง

container: a large metal or wooden box of a standard size in which goods are packed so that they can easily be lifted onto a ship, train, etc. to be transported - ตู้บรรจุสินค้า

contract: to get smaller - หดตัว

crimp: to prevent something from increasing or developing -

crop: a plant grown for food, usually on a farm - พืชผล

decent: good enough - พอเพียง, เหมาะสม

deep sea port: a port with deep waters that can handle very large ships - ท่าเรือน้ำลึก

demand: the need and desire of people to buy goods - อุปสงค์

disclose: to make known to the public - เปิดเผยต่อสาธารณะ

disease: a health problem and problem with a person's body, often caused by an infection, either from a bacteria or virus - โรค

drought: a long period of time when there is little or no rain - ฝนแล้ง, ภัยแล้ง, ความแห้งแล้ง)

due to: because of - เนื่องจาก

eager: wanting to do or get something very much or enthusiastic about something that will happen - กระตือรือร้น

environmental impact assessment: an evaluation/research project into the possible positive or negative effects that a proposed project may have on the environment - การประเมินผลกระทบสิ่งแวดล้อม

equivalent: the same as   - เท่าเทียมกันกับ

especially: more with one person, thing, etc. than with others, or more in particular circumstances than in others - โดยเฉพาะอย่างยิ่ง

estimate: an amount that you guess or calculate using the information available - ประมาณการ

estimated: thought to be a particular amount, size, etc. based on a guess or the best information available - ประมาณการ

expand: to make or become larger - ขยาย เพิ่ม

expansion: when something increases in size, number or importance - การขยายออก

export: the selling and transporting of goods to another country - สินค้าออก, การส่งสินค้าออกไปต่างประเทศ

fetch: to be sold for a particular amount of money - ขายในราคาหนึ่ง

fishery: an area of water where fish are caught so they can be sold - พื้นที่ในการจับปลา

forecast: a statement about what will happen in the future based on information available now - การพยากรณ์, การคาดการณ์

global: throughout the world - ทั่วโลก

grain: the small hard seeds of food plants such as wheat, rice, etc; a single seed of such a plant - เมล็ดข้าว, เมล็ดพืช

growth: economic growth, an increase in economic activity - การเติบโต

handle: to be able deal with a situation - ควบคุมได้, จัดการได้

impact: an effect or influence - ผลกระทบ

in terms of: measured by -

invest: to spend money on something in order to make it better or more successful - ลงทุน

investment: the act of investing money in something - การลงทุน

joint venture: a business activity carried out by two or more companies or groups - การลงทุนร่วม

link: a connection - การเชื่อมต่อ

livestock: animals such as cows, sheep, chickens and pigs that are kept on farms - ปศุสัตว์

minister: a member of the cabinet, the group of government ministers who make and approve government policy - รัฐมนตรี

operator: a person or company that runs a business - ผู้ดำเนินกิจการทางธุรกิจ, ผู้ประกอบธุรกิจ

opposition: strong disagreement with a plan or policy - ความขัดแย้ง

option: choice - ทางเลือก

outlook: an idea about what a situation will be like in the future - อนาคตที่คาดหวังไว้, ทัศนคติ

overseas: in another country - ต่างประเทศ

pending: waiting to be dealt with, settled or completed - ยังค้างอยู่, ซึ่งยังไม่จบสิ้น, อยู่ในระหว่าง

perform a duty: to do what your job requires - ปฏิบัติหน้าที่

phase: a particular period of time during the development of something - ตอน, ขั้นตอน, ช่วง, ระยะ

plantation: a large farm where crops such as tea, coffee, cotton, sugar or, in this case, trees, are grown - ไร่ นาขนาดใหญ่

porcine: related to pigs -

private sector: businesses and industries that are not owned or controlled by the government - ภาคเอกชน

production: the process of growing or making food, goods or materials, especially large quantities - การผลิต

proposed: suggested as an idea for a group to consider - ถูกเสนอ

rank: to put someone or something into a position according to their success, importance, size etc - จัดลำดับ

ravage: to destroy something or damage it very badly - ทำให้เสียหาย, ทำลาย, ล้างผลาญ

realised: achieved - ทำให้เป็นจริง

reason: a fact that makes it right or fair to do something; the power of the mind to think in a logical way, to understand and have opinions, etc - ความมีเหตุผล, การใช้เหตุผล

reduce: to make something smaller or less in amount, size, importance etc - ลดลง

refuse: to say or show that you will not do something that someone has asked you to do - ปฏิเสธ

reproductive: related to making babies - เกี่ยวกับการสืบพันธุ์

respiratory: involving breathing - เกี่ยวกับการหายใจ

results: what you get in the end when activity is completed (test results, research results, etc) - ผล

revenue: income from taxes or business activities - รายได้

rice pledging scheme: a government programme in which a fixed price, in this case well above the market price, is offered to rice farmers for their harvested rice - การจำนำข้าว

rubber: a bouncy, elastic material used in car tires and waterproof gloves - กล้ายาง

sector: a part of a country’s economic or business activity - ภาค (เศรษฐกิจ)

severe: very serious and worrying - ที่รุนแรง ที่น่าเป็นห่วง

shipment: a load of goods that are sent from one place to another - ปริมาณสินค้าที่ขนส่งในครั้งหนึ่ง ๆ

situation: all the circumstances and things that are happening at a particular time and in a particular place - สถานการณ์

slowdown: when the economy moves more slowly and worker incomes and company profits suffer and increase more slowly -

statistics: a collection of information shown in numbers - สถิติ

stock: an amount of something that you keep so that you can use it when you need it - ที่เก็บไว้ในสต๊อก

study: A setting of the mind or thoughts upon a subject; hence, application of mind to books, arts, or science, or to any subject, for the purpose of acquiring knowledge. - งานวิจัย

subsidiary: a company that is owned by a larger company - บริษัทลูก

syndrome: a set of feelings or actions that are typical in a particular situation; a medical condition that has a particular set of effects on your body or mind - ลักษณะเชิงซ้อนต่างๆ ที่บ่งบอกถึงสภาพใดสภาพหนึ่ง, อาการของโรคต่างๆ ที่เกิดขึ้นพร้อมๆ กัน

volume: an amount of something - ปริมาณ

warehouse: a large building for storing things - โกดังสินค้า, คลังสินค้า, โรงพัสดุ

widespread: happening or existing in many places, or affecting many people - อย่างแพร่หลาย

worldwide: throughout the world - ทั่วโลก

year-on-year: the amount or statistic for a period this year (month, quarter, half-year) compared to last year -

More on this topic

Bangkok Post online classifieds

Try buying & selling goods and properties 24/7 in our classifieds which has high purchasing power local & expatriate audience from within Thailand and around the world.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments