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Economy May 20, 2017 01:00

By The Nation

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COMMERCE MINISTRY UPBEAT ON RICE PRICES



The Commerce Ministry is optimistic about this year’s rice prices, the National News Bureau reports. 

Deputy Commerce Minister Sonthirat Sonthijirawong has said more factors must be considered before concluding that prices will hit Bt10,000 a tonne this year. 

The ministry and the Agriculture Ministry are trying to find ways to cut costs, whether for fertiliser or seeds, so that growers can receive a higher profit. It wants farmers to maintain quality as high-quality rice would help push up prices. Thai rice value is on the rise as global demand increases. 

The Department of Internal Trade Promotion will set up regional centres to monitor organisations and groups that might seek to take advantage of rice growers. 

PTT NET SURGES IN Q1

Prasert Salilampai, PTT executive vice president for social affairs and corporate communications, said the group posted Bt46.16 billion in net profit for the first quarter of this year, up Bt22.49 billion from Bt23.66 billion in the same quarter of last year.

Income increased from almost all businesses, benefiting from a rise in the price of crude oil from US$30.4 per barrel in the first quarter of last year to $53.1 per barrel in the first quarter this year. The company paid Bt6.39 billion in corporate income taxes, an increase of Bt2.61 billion from the first quarter of last year.