"They must look back over the past six months and look forward to the next six months and, if possible, come up with an industrial forecast for the next three years," said FTI President Santi Vilassakdanont. "The key points will be summed up and submitted to the new government so that remedial measures can be implemented."

Santi said several industrial groups, including makers of electrical appliances, electronics and auto parts, had already felt the effects of waning purchasing power among consumers.

However, export-oriented industries such as shoe manufacturers that have benefited from the shift of orders from China to Thailand, as well as those operating in the renewable energy and consumer products industries have not yet been affected.

Wiwat Hemmontharop, chairman of the plastics industrial group, said his industry had been hard hit because the cost of plastic pellets had risen in line with global crude oil prices, from Bt48 per kg in May to Bt54 in July.

"Prices are expected to keep escalating until the end of the year, while we are unable to raise the price of finished plastic products, which should have gone up by 5 per cent to 10 per cent by now," he said.

Price increases have been delayed largely because competition from low-priced goods imported from China and Vietnam.

Watcharapong Thongrung

The Nation