The # of Chinese tourists might miss 5m t/g this year, after only 695K arrivals as of April 18, 14% of target. ATTA said inconvenient visa app and gradual flight resumptions were major reasons.
Shipments exceed 2m tonnes: Rice exports surpassed 2 million tonnes in the first quarter with a value of 38.1 billion baht, up 29.3% year-on-year. Ronnarong Phoolpipat, directorgeneral of the Foreign Trade Department, said rice exports rose 18.5% year-on-year, or 321,625 tonnes to 2.06 million tonnes in the first quarter, with Iraq the top importer, accounting for 16.4% of the total, followed by Indonesia (13.1%), the US (8.62%), South Africa (8.24%) and Senegal (5.86%). Bangkok Post
The BOI said the China Printed Circuit Association (CPCA) aims to make TH its new electronic equipment manufacturing base to avoid impact of China-US trade war and geopolitical conflicts.
BOT to stick with gradual and measured monetary tightening until inflation is tamed, focusing on stability both fiscal and monetary, not boosting the economy. GDP will likely expand 2.9% in 1H23 and accelerate to 4.3% in 2H, headline inflation at 3.3% in 1H and 2.5% in 2H, while core at 2.4% both 1H and 2H.
Tourism: USS Nimitz & carrier strike group has docked at Laem Chanbang Pier, 25km north of Pattaya for joint exercise Apr 24-29.
Power bills set to stay put amid Egat losses: Agency wants to be repaid until 2025. State-run Electricity Generating Authority of Thailand (Egat) says it is unable to shoulder more financial burdens until 2025 as it needs funds from electricity bills to help it deal with current losses of 136 billion baht. Bangkok Post
BoT delays publication of virtual bank rules to Q3: The Bank of Thailand has postponed the issuance of virtual bank regulations until the third quarter of this year because it needs more time to clarify the new business licensing with related parties. Bangkok Post
FTI forecasts production to reach 2m: The Federation of Thai Industries (FTI) expects car manufacturing in Thailand to reach 2 million cars this year, close to the level recorded prior to the Covid19 pandemic, despite concerns over the impact of costly electricity bills and banking problems overseas. Bangkok Post
The BOT’s in talk with China’s central bank over supporting the use of yuan-baht settlement to mitigate FX risk amid ongoing US dollar volatility. Banks eye yuan-baht trade payments: Tactic deals with dollar volatility. The Bank of Thailand is in discussions with China’s central bank over supporting the use of yuan-baht settlement to mitigate foreign exchange risk amid ongoing US dollar volatility. Bangkok Post
Dept of Energy Business reported 1Q23 domestic fuels consumption +5.6% yoy to 160.85m ltr/d, Jet A1 +95.2% yoy to 14.04m, Benzene +6.6% yoy to 31.78m, Diesel +0.2% to 76.4m.