Chia Tai Renews Support for Rising Golf Star
With unwavering dedication and determination, Nong Jelly has been selected as a member of the Thailand Junior National Golf Team for both 2024 and 2025 by the Thailand Golf Association (TGA). She has also been chosen to join the Thai Ladies Golf Association (TALGA) team. Most recently, representing Thailand at the Singapore Junior Golf Championship 2025 held at Keppel Club, Singapore, she achieved 1st Runner-Up in the Individual Category and contributed to the team's 4th place finish in the Team Category—marking a proud achievement and a significant step in her career as a national junior golfer.
Chia Tai's continued support underscores its dedication to nurturing youth with high potential. Recognising Nong Jelly's strong determination and tireless efforts in her golfing journey, the company believes her story will inspire other young people to dream big and pursue their goals with confidence. Chia Tai firmly believes that empowering the next generation and providing opportunities for youth to realise their full potential lays the foundation for a dynamic new force to drive positive change in Thai society.
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Bangkok Post
an hour ago
- Bangkok Post
Govt vows to help exporters face tariffs
The Ministry of Commerce will work closely with financial institutions to help Thai exporters weather the impact of the new tariffs imposed on Thai goods bound for the United States. The US said on Friday that Thai goods bound for the United States will be subject to a 19% tax, starting on Aug 7. The rate, markedly lower than the 36% initially announced by the US, was announced after the government agreed to eliminate import duties on over 10,000 items imported from the US. Sunanta Kangvalkulkij, director-general of the Department of International Trade Promotion (DITP), said staff have been instructed to come up with measures to assist affected businesses. They include extending soft loans to help affected businesses, identifying new markets for Thai goods, boosting efforts to prevent transshipment and curbing the sale of substandard goods, she said. Authorities will also review regulations to help support exporters deal with the new tariffs, Ms Sunanta said. For instance, the government is considering reviewing the requirements for businesses to qualify for the SME Pro-active programme, and increase the support cap from 200,000 baht, she noted. The Commerce Ministry is also slated to sign a memorandum of understanding (MoU) to bolster cooperation with the private sector and financial institutions in about two weeks. The DITP chief said the department will use the 50 million baht it received under government's 115-billion-baht economic stimulus package to assist in its efforts. Staff are gathering information from affected businesses to determine what additional measures are required. This will be compiled into a proposal that will be submitted to the commerce minister, cabinet and the government's economic stimulus committee for approval, she said. Asked to comment on the National Shippers' Council's projection that Thailand's export sector will grow by 5–7% this year, she said that the estimate is possible. US importers of Thai goods have so far found the new tariff acceptable and comparable to those imposed on other countries in the region. Additionally, trade with new markets is showing promising signs, and the private sector is adjusting to the new rate. The ministry's projects exports will grow by 2–3% this year, she said.
Bangkok Post
2 hours ago
- Bangkok Post
Tallying the tariff trade-offs
The 19% US reciprocal tariff on Thai goods could offer some much-needed relief for businesses in Thailand, as this rate aligns with the regional average. However, several Southeast Asian nations including Thailand had to offer concessions, including opening up their markets to American products, often without a tariff. This change is expected to significantly reshape the trade landscape. How will these developments affect Thailand's local market and its export dynamics? RELOCATION POSSIBLE Nuttaporn Triratanasirikul, deputy managing director of Kasikorn Research Center (K-Research), said Thai exports likely to lose overseas market share because of US tariffs include jewellery, rubber gloves, pet food and home appliances. "Rubber gloves, in particular, will face stiffer competition from those shipped from Malaysia, while Thai-made pet food also has some outstanding rivals from other countries. These products are at risk of losing their overseas markets," she told the Bangkok Post. Locally produced pet food could become less competitive when Thailand lowers import duties on US products, along with internal combustion piston engines and medical instruments, according to K-Research. Internal combustion engines and medical instruments are among the top 10 products Thailand imports from the US, with auto parts heading the list. Other major import items are soybeans, pet food, food supplements, and machinery parts. "However, we are unlikely to see an influx of US products, which are positioned differently from the cheap Chinese goods that normally flood into Thailand. US-made goods are mostly intermediate high-tech goods that are not produced here in Thailand," said Ms Nuttaporn. If manufacturers in Thailand find it difficult to compete at home or abroad, they might freeze investments, she said. "Costs may rise for these manufacturers, making them less competitive and less likely to invest in capacity expansion," said Ms Nuttaporn. Looking to next year, if the US tariffs stay in place for long and the government does not address this issue properly, affected manufacturers could "possibly relocate their production" to countries where costs are lower, she said. Chanintr Chalisarapong, vice-chairman of the Thai Chamber of Commerce, said opening up the local market to US imports is an opportunity for change and reform. Regulations in several sectors, particularly agriculture, are outdated and these have "hampered Thailand's competitiveness", he said. Thailand has made progress in negotiations for a free trade agreement with the European Union, which Thai negotiators expect to conclude by the second quarter of next year. Officials hope a deal can help to offset the impact of US tariffs with greater market access to 27 European countries. "Thai exporters have to find new markets to help ease the impact of higher US tariffs. The Middle East, Eurasia and Latin America offer strong growth opportunities for Thai exporters, especially for pet food," said Mr Chanintr. UNPREPARED The Federation of Thai Industries (FTI) cautioned about the trade-off for opening up Thai sectors unprepared to face tougher competition in exchange for a reduced US tariff. Agricultural products such as meat and animal feed as well as certain industries are likely to bear the brunt if they are not protected against the import of rival products from the US, said Kriengkrai Thiennukul, chairman of the FTI. Herbal products and medicines should not be seriously affected if local manufacturers compete with American companies, but local petrochemical and chemical industries are not ready for a zero-tariff policy," said Mr Kriengkrai. Entrepreneurs in these industries need more time to adjust because they depend on imported raw materials, making it difficult for them to control production costs, he said. Agriculture is another sector vulnerable to zero duties on US imports, as Thai farmers will struggle to avoid a severe impact, said Mr Kriengkrai. "This will not be good for household income and economic growth in the long term," he said. SMEs IN TROUBLE A US reciprocal tariff of 19% is expected to significantly undermine the competitiveness of Thai small and medium-sized enterprises (SMEs), said Sompop Manarungsan, an analyst on the Chinese and US economies. Many food products in US grocery stores are produced by Thai SMEs, he said. "The question is whether SMEs even have a margin of 19% to cover the tariff. In order to survive, Thai SMEs must have at least a 30% margin, but how many do? Most of them operate on single-digit margins, especially in the food sector," said Mr Sompop. "Both large and small food businesses will struggle with a 19% tariff. We must find new sources of demand outside the US, such as domestic demand. We must also develop the service sector to drive growth, and use it to lead the manufacturing sector. For example, expanding tourism, healthcare, food service, sports and entertainment to eventually lift domestic demand." He also expressed concern about the outlook for agricultural products, particularly corn, soybeans and meat, as Thailand is unlikely to compete with the US because America operates plantation-style, mass-scale production, resulting in unit costs that are half of Thailand's, even after including shipping costs. Nowhere in the world can produce corn as cheaply as the US and Brazil, said Mr Sompop. If Thailand does not implement import quotas on such agricultural products, Thai farmers will be affected and the government may have to spend hundreds of billions of baht annually to subsidise the sector, he said. "More importantly, allowing US agricultural products to flood the Thai market would have a serious impact on the country's food security. How can we rely on imported pork forever, or foreign corn? If a war were to break out, what would we do? This is precisely why Japan has preserved its agricultural sector, even though domestic production is much more expensive than elsewhere," said Mr Sompop. "Japan allows only a small amount of rice imports from the US, despite consuming 10 million tonnes of rice annually. The US is granted a quota of just 770,000 tonnes, or 7-8% of Japan's total domestic consumption. Japan has never truly opened up its agricultural sector to the US in any substantial way." He said Thailand must position itself as a destination where wealthy people from around the world come to use services -- to travel, eat, seek healthcare, and enjoy entertainment. "We must not abandon production, but we will no longer serve as only a base for original equipment manufacturers, because we cannot sustain that role with a 19% tariff," said Mr Sompop. LOWER EXPECTED COSTS Visit Limlurcha, president of the Thai Future Food Trade Association and vice-chairman of the Thai Chamber of Commerce, said the US tariff deals enable America to export goods to many countries without a tariff. This could significantly benefit Thai consumers, as the removal of tariffs is expected to reduce the prices of US imports. For example, animal feed ingredients and electronic components from the US could be imported for processing or use as raw materials. These changes should lower production costs and provide savings for importers, leading to decreased prices for consumers and enhancing the competitiveness of Thai exports in global markets, he said. "Consumers can also look forward to a greater variety of products," said Mr Visit. Temperate fruit such as apples and grapes from the US as well as walnuts, almonds, cosmetics, pharmaceuticals, dietary supplements and vitamins could soon become more available at lower prices, he said. High-quality American products are likely to appeal to middle- and upper-income consumers already seeking these items, said Mr Visit. Last year Thailand imported goods worth 696 billion baht from the US. In the first half of this year, imports amounted to 358 billion baht. The main items included crude oil valued at 84.3 billion baht, machinery and parts totalling 33.7 billion baht, and chemicals worth 20.6 billion. Among consumer goods, pharmaceutical and medical products accounted for 7.81 billion baht, while fruit and vegetables reached 2.27 billion baht, and cosmetics totalled 2.16 billion, according to the Commerce Ministry. LIMITED IMPACT While US products will test the competitiveness of Thai exports, particularly for processed food and chicken, Mr Visit is confident in the strength and resilience of these local sectors. He said he expects Thai processed food, particularly chicken products, to retain their competitiveness thanks to robust production and export capabilities, alongside a sufficient domestic supply at competitive prices. Any US products in this category are likely to focus on niche or non-overlapping segments, said Mr Visit. "In terms of chicken products, Thailand can remain competitive, especially if we can purchase animal feed crops from the US at lower prices. This would reduce poultry farming costs," he said. Regarding the beef market, Australia is Thailand's primary source, holding a 96.3% market share. Last year, beef imports from Australia amounted to 2.66 billion baht, followed by imports from Japan at 75 million baht and New Zealand 16 million baht. All three countries operate under free trade agreements with Thailand, benefiting from zero tariffs, said Mr Visit. Increased US beef imports offer advantages and challenges, he said. They should enhance consumer choice in the premium beef market and could drive down prices due to heightened competition, as well as motivate local producers to enhance their product quality, said Mr Visit. This shift could give premium restaurants an opportunity to diversify their menus with higher-quality beef options, catering to both tourists and local consumers, he said. On the downside, small-scale Thai cattle farmers may face difficulties in adapting due to higher production costs compared with their US counterparts, who benefit from large-scale operations and cheaper feed. Moreover, consumer safety concerns remain regarding hormone use, chemical residues, and health risks such as mad cow disease, which are significant for both governments and consumers making decisions, said Mr Visit. Cheeta Ngohpraiwan, president of the Thaibrahman Breeders Association, said imports of US beef without a tariff would definitely impact the Thai beef industry, particularly the premium segment because US beef has lower production costs. However, he said local beef typically sold in wet markets for everyday consumption would stay competitive. "To reduce the potential impact on the Thai beef industry, the government should impose limits on the quantity of US beef eligible for the 0% import tariff," said Mr Cheeta. Authorities also need to enact rigorous checks to combat the smuggling of beef, which has long plagued the mass market for beef in Thailand, he said. "Smuggled beef not only harms the local beef market, but also deprives Thailand of tariff revenue from these illegal imports," said Mr Cheeta. Addressing smuggled live cattle from neighbouring countries would also help increase local beef prices, he said. Mr Visit said Thailand can become a regional leader in cattle breeding, as its neighbours and China display a robust demand for live cattle, creating an opportunity for Thailand. By establishing a strong brand, such as "Quality Thai Beef Cattle", or achieving geographical indication status similar to Korat Wagyu, he said Thailand could enhance the value of its beef cattle and distinguish its products in the marketplace. The halal market presents another promising avenue for growth, especially in Malaysia, Indonesia and the Middle East, all of which have a heightened demand for it, said Mr Visit. "To maximise these opportunities, we must enhance the quality of the farms and cattle breeds to align with international standards, create comprehensive traceability systems, obtain global certifications, and implement proactive marketing strategies to ensure global visibility for Thai beef brands," he said. PORK SECTOR SQUEALS Sitthiphan Thankiatphinyo, president of the Swine Raisers Association of Thailand, voiced concern over the decision to open the Thai market to US pork, warning it could severely impact independent pig farmers nationwide. "If US pork enters the market, many independent farmers could be forced out of business," he said. Mr Sitthiphan said Thailand produces around 1.1 million tonnes of pork annually, primarily for domestic use. Roughly 1-2% of production is exported to neighbouring countries due to domestic oversupply. Thailand is home to more than 100,000 independent pig farmers and another 50,000 to 60,000 involved in contract farming. Large agribusinesses account for roughly 60% of total pork production, with the remainder coming from independent farmers outside of contract systems. NO PRICE WAR Kawee Sakawee, chairman of the Thai Alcohol Beverage Business Association, said Thailand does not import significant amounts of alcohol from the US. While some American beers and spirits are available in the market, they are not major players. Most of Thailand's imported alcohol products come from Europe. In recent years, imports of plum wine from Japan and soju from South Korea have increased, he said. Mr Kawee said even without import tariffs on US alcohol, it would not lead to a sudden surge of American alcohol product imports. "Some importers might test the market with trial sales of US alcohol in Thailand, which is a common approach when exploring a new market," he said. "The key factor is how Thai consumers react to these offerings." Mr Kawee recalled when Thailand temporarily waived import duties on wine last year, it encouraged foreign wine brands to enter the market. High tariffs previously limited their presence and price competitiveness. However, not all imported wine brands succeeded in the Thai market, he said. Eliminating import duties for US alcohol products could allow some premium American spirits to establish a presence in the country, but long-term success will always depend on consumer response, said Mr Kawee. Even with changing trade dynamics, he said he does not anticipate any price dumping in the alcohol industry. "Most brands are positioning themselves as premium products. Price wars would harm the industry and are not common practice," said Mr Kawee. CHIP FUTURE HAZY Phongprapha Napapruekchat, assistant vice-president at Krungthai Compass, a research unit under Krungthai Bank, said semiconductor products, which were initially excluded from the reciprocal tariffs, are now listed under Annex II in the sectoral category. This sector is expected to face additional tariff measures, anticipated to take effect by the first quarter of next year. Now only printed circuit boards are affected by the 19% tariff rate, said Mr Phongprapha. Meanwhile, Somchai Sittichaisrichart, managing director of SiS Distribution (Thailand) Plc, said smartphone makers such as Apple and producers of computer brands and networking equipment are already subject to zero duties for import into Thailand, meaning the agreement with the US eliminating tariffs on these items should have no impact.
Bangkok Post
2 hours ago
- Bangkok Post
Pine Wealth sees upside for Thai equities
Though trade-related tariff risks have eased, the political vacuum remains an uncertainty for the Thai market, while attractive valuations and renewed foreign inflows present upside opportunities, says Pine Wealth Solutions Securities. The main downside risk for the Stock Exchange of Thailand continues to stem from subpar economic growth, with the International Monetary Fund forecasting Thai GDP growth of only 1.8% this year and 1.6% next -- levels seen as below the country's potential, the brokerage said. On the upside, the recently announced US tariff rate for Thai imports is in line with regional peers, which helps mitigate trade-related risks. However, political instability remains unresolved following the Constitutional Court's suspension of Prime Minister Paetongtarn Shinawatra last month. "This ongoing uncertainty may delay budget disbursement for 2026. Tight credit conditions persist, with commercial banks still reluctant to lend, dampening both private consumption and business investment," the brokerage said in a research note. However, Pine Wealth sees potential upside for Thai equities, mainly driven by undemanding valuations -- currently below the 10-year average -- and renewed buying interest from foreign and institutional investors gradually reducing their cash holdings. "Potential catalysts for a market rebound include a clear and credible political resolution that restores investor confidence, and a more dovish signal from the Bank of Thailand, including possible interest rate cuts this year and next," noted the brokerage. Piyatat Pasommanatsakul, strategist and head of investment advisory at Pine Wealth, said the company unveiled three model portfolios for the third quarter tailored to different investor risk profiles. "The firm sees the global stock market maintaining its upward momentum, especially in the US, supported by strong corporate earnings and expectations of Federal Reserve rate cuts," he said. However, rising market volatility and dollar weakness are prompting institutional investors to diversify into other regions. As a result, Mr Piyatat recommends investors assess their risk tolerance and choose one of three portfolio strategies. The conservative portfolio has 70% in fixed income, 25% in equities and 5% in alternative assets, designed for capital preservation and low volatility. The growth portfolio is suitable for moderate to high-risk investors, targeting higher returns with broader diversification, consisting of 70% in equities, 20% in bonds and 10% in alternative assets. Finally, the wealthy portfolio is designed for sophisticated investors who seek diverse private market exposure beyond traditional assets. This model recommends private credit, private infrastructure, and life settlement products, including insurance policies.
