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The group is seeking a meeting with economic ministers to discuss potential measures.

Pramon Sutivong, chairman of Board of Trade of Thailand and Thai Chamber of Commerce, said JCCIB is also seriously concerned about rising inflation driven by soaring oil prices.

"It will be better if the government and the private sector figure out new solutions to get through this murky situation," he said.

The group, for instance, will propose to the government to temporarily reduce tax rates for some products such as steel.

It also wants the government to come up with a clear policy on the allocation of crops for the food industry and the biofuel industry as there has been a growing demand for crop-based alternative energy.

Meanwhile, Thai Industries Federation chairman Santi Vilassakdanont said some foreign countries are now worried about the political confrontation in Thailand.

"Protests are fine in democratic countries, they should be peaceful. If foreigners are worried, there will be negative impacts on investments as well as on industries and tourism. For most tourists, safety is very important so if the situation becomes violent, tourism will be the first to be hit," he said.

Thai Bankers Association secretary-general Thawatchai Yongkittikul said economic growth in the second quarter is likely to slow as a result of higher inflation and oil prices.

He said crop prices have risen at a slower pace so the country's trade deficit will worsen.

On interest rates, he said the central bank will have to exercise caution when making a decision on monetary policy as it is highly sensitive to economic growth.

Deputy Prime Minister and Finance Minister Surapong Suebwonglee said yesterday at a seminar on Thailand's strategy in the global food crisis the government plans to provide treasury land to the urban poor where they can do business and sell products.

He also said there would be concrete measures by the end of this month to promote alternative energy.