Thailand may lose $65 million in first-quarter exports to China amid virus scare - shippers

[webfact]

Thailand may lose $65 million in first-quarter exports to China amid virus scare - shippers

 

FILE PHOTO: A view of the Port of Bangkok, Thailand, March 25, 2016. Picture taken March 25, 2016. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand may lose 2 billion baht ($64.6 million) in exports to China in the first quarter, as the impact of coronavirus on supply chains weighed, a Thai shipping association said on Tuesday.

 

Exports of fresh fruits and vegetables will be the worst hit, Ghanyapad Tantipipatpong, group chairwoman of Thai National Shippers' Council, told reporters.

 

China was Thailand's second-largest export market last year, purchasing goods worth $29.2 billion, or 11.8% of total Thai exports.

 

The group has maintained its forecast for overall export growth of 0-1% this year, as the virus is expected to cut shipments by just 0.11%, Ghanyapad said, adding that it expects exports to China to accelerate due to pent-up demand.

 

Thailand may also get more buyers who are seeking to replace Chinese products, she added.

 

Exports, a key growth driver of Thai growth, dropped 2.65% in 2019 due to global trade tensions and a firmer baht <THB=TH>.

 

The coronavirus outbreak has sickened thousands in China and killed more than 420; and the epidemic is expected to disrupt supply chains across many commodities and energy sectors.

 

The World Health Organization (WHO) has declared the flu-like virus a global emergency and experts say much is still unknown about the pathogen, including its mortality rate and transmission pathways.

 

(Reporting by Kitiphong Thaichareon and Satawasin Staporncharnchai; Writing by Orathai Srirng, Editing by Sherry Jacob-Phillips)

 

-- © Copyright Reuters 2020-02-04

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[Pravda]

you can't lose what you don't have

[zydeco]

4 minutes ago, webfact said:

The group has maintained its forecast for overall export growth of 0-1% this year, as the virus is expected to cut shipments by just 0.11%, Ghanyapad said, adding that it expects exports to China to accelerate due to pent-up demand.

 

Thailand may also get more buyers who are seeking to replace Chinese products, she added.

It's win win win, no matter what.

[DrTuner]

Perfect time to talk about the trade deficit between, say, Thailand and US and Thailand and EU. Make them feel what it means when you side with China.

[Just1Voice]

The snowball is gaining momentum.

[snoop1130]

Thai export products pile up as transportation in China comes to temporary standstill

By THE NATION

 

 

The prolonged holidays in China, as well as the coronavirus situation in Wuhan, have caused numerous products to pile up, affecting perishable items.

 

China has put Hubei province’s Wuhan city – from where the coronavirus originated – under lockdown, banning transportation of any kind to prevent the virus from spreading and allowing the entry of only certain products.

 

In other provinces, Chinese New Year holidays were extended by the government to February 10 and numerous companies have closed or allowed their employees to work from home.

 

Thai National Shippers’ Council vice chairman Visit Limluecha said the extended period of holidays would affect companies that have ordered products from firms that have temporarily closed.

 

“Port drivers and transportation companies have stopped working during the holiday period, while cargo transportation has come to a standstill until February 10,” he explained. “This has led to the transport of products being paralysed in China, and several items have piled up at the ports.”

 

“Chinese importers have suspended bringing in perishable products and this may continue as long as China is unclear about when the coronavirus situation will end,” he said.

 

Visit therefore advised Thai exporters to check with their Chinese partners when the goods can be transported to avoid operational problems, which may increase expenditure.

 

He suggested that relevant agencies manage ships or shipping times after February 10, when the demand for products will likely increase sharply, leading to crowded sea traffic.

 

Source: https://www.nationthailand.com/news/30381585

 

-- © Copyright The Nation Thailand 2020-02-04

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[30la]

13 hours ago, snoop1130 said:

Thai export products pile up as transportation in China comes to temporary standstill

By THE NATION

 

 

The prolonged holidays in China, as well as the coronavirus situation in Wuhan, have caused numerous products to pile up, affecting perishable items.

 

China has put Hubei province’s Wuhan city – from where the coronavirus originated – under lockdown, banning transportation of any kind to prevent the virus from spreading and allowing the entry of only certain products.

 

In other provinces, Chinese New Year holidays were extended by the government to February 10 and numerous companies have closed or allowed their employees to work from home.

 

Thai National Shippers’ Council vice chairman Visit Limluecha said the extended period of holidays would affect companies that have ordered products from firms that have temporarily closed.

 

“Port drivers and transportation companies have stopped working during the holiday period, while cargo transportation has come to a standstill until February 10,” he explained. “This has led to the transport of products being paralysed in China, and several items have piled up at the ports.”

 

“Chinese importers have suspended bringing in perishable products and this may continue as long as China is unclear about when the coronavirus situation will end,” he said.

 

Visit therefore advised Thai exporters to check with their Chinese partners when the goods can be transported to avoid operational problems, which may increase expenditure.

 

He suggested that relevant agencies manage ships or shipping times after February 10, when the demand for products will likely increase sharply, leading to crowded sea traffic.

 

Source: https://www.nationthailand.com/news/30381585

 

-- © Copyright The Nation Thailand 2020-02-04

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Did you want globalization? And globalization be !!!

[Assurancetourix]

16 hours ago, webfact said:

Thailand may also get more buyers who are seeking to replace Chinese products, she added.

 

I think Thailand can continue to dream with its baht much too strong;
especially to buy fruits and vegetables stuffed with chemicals.

[RichardColeman]

16 hours ago, webfact said:

Ghanyapad said, adding that it expects exports to China to accelerate due to pent-up demand.

Is this like the pent-up Chinese tourists that the TAT say will explode like a coiled spring in the last 9 months of the year to reach another fictional goal ? 

[Assurancetourix]

10 minutes ago, RichardColeman said:

in the last 9 months of the year to reach another fictional goal ? 

The TAT will have to revise its figures because the theoretical summit of the explosion of the coronavirus is scheduled for May or June of this year.
so bringing the forecasts of 9 months into 6 or even 5 or 4 may be very bad ...

[Isaan sailor]

Karma.  China at the root of all problems in Thailand.

[Assurancetourix]

1 minute ago, Isaan sailor said:

Karma.  China at the root of all problems in Thailand.

In fact it is the snake that bites its tail; the Thai people are from southern China ...

[neeray]

2 minutes ago, Isaan sailor said:

Karma.  China at the root of all problems in Thailand.

Send the invoice to China. Give them a sympathetic discount of 50%.

China owns this one, lock, stock and barrel.

[justin case]

put all your eggs in one basket, mix with one self appointed chinese loving government

 

BAAAAAAAM, in your face

[Misterwhisper]

19 hours ago, Just1Voice said:

The snowball is gaining momentum.

Or the local version of it, the proverbial ลูกหิมะ

[petermik]

7 hours ago, Misterwhisper said:

Or the local version of it, the proverbial ลูกหิมะ

or more bluntly.."the <deleted> is hitting the fan".....

[saengd]

18 minutes ago, petermik said:

or more bluntly.."the <deleted> is hitting the fan".....

You haven't got a clue!

 

Thailand's year on year exports are USD 19.2 billion, they are currently just off an all time high of almost USD 23 billion in mid 2018. 

 

So USD 19.2  billion per year is an average USD 1.5 billion per month, the article in the OP says they may lose USD 65 million in the first quarter, that's USD 22 million per month.......1.5 billion minus 22 million, and you think the ....is hitting the fan, really!

[FarFlungFalang]

4 hours ago, neeray said:

Send the invoice to China. Give them a sympathetic discount of 50%.

China owns this one, lock, stock and barrel.

You may well be right and the lock,stock and barrel may well blow in the collective faces of the rest of the world then we may all own it!

[Skeptic7]

21 hours ago, Just1Voice said:

The snowball is gaining momentum.

hoping for the avalanche!!! ????