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Published on January 10, 2008

Apiradi Tantraporn, director-general of the Foreign Trade Department, said yesterday that the tax-refund cancellation would clear the way for Thai exports, as Chinese exports will carry higher prices.

That also means, however, that Thai traders importing those goods previously eligible for VAT refunds will have to shoulder higher costs.

The measure, which covers 84 food products such as cereal, soybeans and flour products, took effect on December 20.

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Trent preferred

Thai Airways International has selected the Rolls-Royce Trent 700 to power a new fleet of eight Airbus A330-300s, in a deal worth about US$300 million (Bt10 billion). The aircraft are due to be delivered from next year onwards.

The engines will be covered by a 10-year TotalCare long-term services deal, based on an agreed dollar fee per engine flying hour.

THAI was the launch customer for the Trent 800 on the Boeing 777-200 and 777-300 and has 20 aircraft in its fleet, which now also includes the Trent-powered 200ER version.

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Rice exports 'hit'

China's reduction of grain imports will directly affect Thailand's rice exports, China's Xinhua news agency reported recently.

China imported 1.29 million tonnes of grain in the first 10 months of last year, a decline of 58.6 per cent from the same period of the previous year. According to customs data, Australia, Canada and Thailand accounted for 90.3 per cent of China's grain imports in the period.

From January to October, China bought 457,000 tonnes of grain from Australia, down 74 per cent, 356,000 tonnes from Canada, down 24.4 per cent, and 351,000 tonnes from Thailand, down 36.1 per cent.

The sources ascribed the import reduction to a narrowed gap between supply and demand at home and price hikes on world grain markets.

 

The Nation