Soaring oil prices hurt Thai industry

Thailand’s Ministry of Industry is preparing measures to assist operators of small- and medium-sized enterprises (SMEs) to survive, as oil prices are expected to continue rising during the third and fourth quarters of this year, a senior ministry official said Sunday.

Ministry of Industry permanent-secretary Chakramon Phasukavanich said that global oil prices had now reached US$70 per barrel and that Thailand’s industrial sector was strongly affected–especially the country’s food-processing industry.

ETNA