What's new in business news: October 16, 2013 | Bangkok Post: learning

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What's new in business news: October 16, 2013

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Rise in Bangkok housing prices, rail line to Pathum Thani by 2018 & world rice glut with falling prices. 

Rice stockpiles in Thailand, once the world's biggest exporter, are expanding to a record amount as the government pledging scheme has spurred farmers to plant massive crops, adding to a global glut.


Rise in Bangkok housing prices 

Prices of condo units in Greater Bangkok have skyrocketed by 48% on average over the past four years, while those of townhouses by 36% and single houses by 25%.

Six locations with continuing increases in condo prices were Kae Rai-Laksi-Ram Intra, Bang Sue-Nonthaburi, Ratchada (Lat Phrao-Makkasan), On Nut-Bearing, Bang Na-Suvarnabhumi and Taksin-Bang Wa. Condo prices in those locations rose from 68,000 baht per square metre on average in 2009 to 100,000 baht this year - an increase of 48% in four years. The average price of single houses rose from 4.72 million baht four years ago to 5.91 million baht in 2013. Townhouse prices increased from 1.66 million baht to 2.25 million baht. [See list of best locations here].

The supply of newly launched condos will slow down next year as developers reduce projects due to negative factors such as a labour shortage for construction workers and the large number of new condos launched this year. In some locations, the condo supply is reaching a surplus with slowing sales amid high competition. Meanwhile, land costs are so high that affordable condos are not feasible to develop.

[Read full story here ]


Rail line to Pathum Thani by 2018 

The cabinet on Tuesday approved construction of the 19km Dark Green Line train service that will run from Mor Chit via Saphan Mai to Khu Khot in Pathum Thani. Of the 38-billion-baht budget slated for the project, 29 billion will be spent on construction and the rest on consultancy and land expropriation.

The Mass Rapid Transit Authority (MRTA) will organise a bidding contest to select a contractor in December with the line set to launch its service in June 2018.

[Read full story here ]


World rice glut with falling prices 

Bloomberg & Phusadee Arunmas

Thailand's 30-year reign as the biggest exporter in the world ended last year as shipments dropped 35% to 6.9 million tonnes, as grain from Vietnam and India was much cheaper. 

Thai rice exporters are now worried about an excessive global rice supply. Global rice imports around the world are expected to decline this year for the first time since 2009 because of weaker demand from some African and Asian buyers such as  Indonesia, the Philippines and Nigeria. Good rainfall in India, Vietnam, Thailand and the Philippines has led to less imports. Indonesia has announced self-sufficiency in rice. On the other hand, China, the largest grower and importer of rice, may increase rice imports and alleviate the price slump somewhat because heat waves earlier this year may cut domestic production in China.  

Rice stockpiles in India, Vietnam, Thailand, the US and Pakistan, the five largest shippers, will expand 6.8% to a record 42.6 million tonnes in 2013-2014. Global rice inventories will rise 4.8% to 183 million tonnes, expanding for a ninth year and lifting the stockpiles-to-usage ratio to the highest since at least 2002-2003. 

Rice stockpiles in Thailand are also expanding to a record amount as the government pledging scheme has spurred farmers to plant massive crops, adding to the global glut. Thai output will rise 4.5% to 21.1 million tonnes in 2013-2014. Reserves in Thailand will increase 24% to 15.5 million tonnes in 2013-2014.

Record amounts of other crops from corn to wheat are also being produced around the world, combined with the oversupply of rice this is helping to drive global food prices and rice prices to a three-year low. Thai rice prices fell 24% to $445 this year. If the Thai government offers high prices to farmers, higher government losses will be inevitable.  

[Read full story stockpile" >here ]

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affordable: not expensive - ไม่แพง

alleviate: to make something less painful, severe, or serious - ทำให้บรรเทา ทำให้น้อยลง

amid: during the time when something else is happening - ท่ามกลาง

announce: to tell people something officially, especially about a decision, plans, etc - ประกาศ, แจ้ง, แจ้งให้ทราบ

approved: given official agreement or permission - ได้รับการรับรองแล้ว

bidding contest: a situation in which suppliers/contractors submit competing bids to provide a service or product -

cabinet: the group of government ministers who make and approve government policy - คณะรัฐมนตรี

combined: counted together - รวมกัน

competition: a situation in which people or organizations compete, i.e., try to be more successful or better than somebody else who is trying to do the same as you - การแข่งขัน

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

consultancy: the service of providing expert advice and help in some area - ปรึกษา, ปรึกษาหารือ

continued: happening or existing for a period of time without interruption - ซึ่งติดต่อกัน, ซึ่งต่อเนื่องกัน

contractor: a person or company whose job is to do work for another person, organisation, company, etc. - ผู้รับเหมา

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

cut back: reduce, decrease - ลดลง, ทำให้น้อยลง

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

develop: to think of or produce a new idea, product, etc. and make it successful; to build new houses, factories, etc. on an area of land, especially land that was not being used effectively before - พัฒนา

developer: real estate developer, a person or company that builds new "real estate developments" including buildings, houses, shopping centers, etc -

domestic: inside the country being talked about - ภายในประเทศ

drive: cause -

due to: because of - เนื่องจาก

excessive: much greater than is usual; too much of something   - มากเกินปริมาณที่พอดี

expand: to make or become larger (noun form: expansion) - ทำให้กว้าง, ทำให้ขยาย

expropriation: the taking of land from people to use for something else - การเวนคืน

factor: a fact or situation which influences the result of something - ปัจจัย

feasible: that is possible and likely to be achieved - ซึ่งเป็นไปได้

global: throughout the world - ทั่วโลก

glut: over-supply, when there is too much supply of a good on the market, the people who want to buy the good (demand) is much less than the amount of good available to buy in the market (supply) - ปริมาณมากเกินต้องการ, จำนวนเหลือเฟือ

heat wave: a period of time of several days when it is very hot - คลื่นอากาศร้อน

inevitable: unavoidable; certain to happen - ซึ่งหลีกเลี่ยงไม่ได้

inventory: the products kept in a shop, warehouse, etc., in this case, unsold cars - สินค้าที่จัดเก็บในสต๊อก

labour: people whose job involves hard physical work that is not skilled, especially work that is done outdoors - กรรมกร, ผู้ใช้แรงงาน

launch: starting something - การเริ่มต้น

launch: to start selling a new product or service to the public - เริ่มวางขาย

lift: to move higher - ขึ้น

line: a public transportation route that a bus or train travels along sending people from one place to another place -

location: where someone or something is - ที่ตั้ง,ทำเล

massive: very large in size, amount or number - ใหญ่โต

negative: bad - ที่เป็นด้านลบ

on average: calculated by adding several amounts together, finding a total, and dividing the total by the number of amounts - โดยเฉลี่ย

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

project: a planned piece of work that is designed to find information about something, to produce something new, or to improve something - โครงการ

ratio: the relationship between two numbers or amounts, one number over another number, proportion, fraction - อัตราส่วน, สัดส่วน, อัตราเปรียบเทียบ

record: the best or most ever achieved - สถิติ

reigning champions: the current champions - แชมป์ปัจจุบัน

reserve: to keep something currently not being used but that can be used when needed - สำรองไว้

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

select: to choose - คัดเลือก

self-sufficiency: to have enough doing it yourself, don't need any help from the outside - ความพึ่งพาตนเองได้

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

shortage: when there is not enough of something - การขาดแคลน

skyrocket: to increase very quickly - ลอยขึ้นสูงอย่างฉับพลัน

slate: to plan that something will happen at a particular time in the future - วางแผนสำหรับสิ่งที่จะเกิดขึ้นในาในอนาคต

slump: a period when an economy is much less successful than before and many people lose their jobs - ช่วงเศรษฐกิจตกต่ำ

spur: to cause something to happen - ก่อให้เกิด 

stockpile: a large collection of things that may be needed - สิ่งที่เก็บสะสมไว้ คลังสินค้า

supply: an amount or quantity of something that is available to buy or use; use the amount of a good available in a market to buy - อุปทาน

surplus: more than is needed - เหลือเกิน, ส่วนที่เกิน

transportation: the process of moving people or things from one place to another - การขนส่ง

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