• 
• 

Published on July 14, 2007

Oil prices fell on positive talks between the UN and Iran and a nine-year-high for crude-oil reserves in the US.

Also, BP refinery in the US has resumed operations after an emergency shut-down amid lower demand in Asia, said PTT senior executive vice president Chaiwat Chooritti.

"The price cut is also backed by the strong baht," he said.

Gasohol 95 will be cut 40 satang a litre and gasohol 91 by 70 satang. Octane-95 petrol will be Bt29.99 and octane-91 Bt29.19.

Tapioca worry

The strength of the baht is a major factor worrying tapioca exporters offering lower prices in the latest tapioca bidding held by the Commerce Ministry, says a senior Foreign Trade Department official.

Eight bidders have joined the ministry's offering of 187,107 tonnes of tapioca chips, and 11 bidders joined bidding for 47,609 tonnes of tapioca starch on Wednesday.

"Exporters are afraid to quote a future export price, because of high fluctuations in the value of the baht, bringing an offered bidding price lower than the ministry had expected," the source said. They are afraid it will grow stronger than 31-32 to the US dollar.

The market price for tapioca chips now stands at $130 (Bt4,300) per tonne, while tapioca starch goes for $340 a tonne.

Lessor named

Thai Airways' board approved HSH Nordbank to be the long-term financial lessor of Boeing B777-200ER aircraft Nos 5 and 6.

The leasing deal is equivalent to US$232 million (Bt7.73 billion).

Lotus campaign

Tesco Lotus is celebrating the completion of the restructuring of its supply-chain process by launching a "Roll Back - Fresh Quality at Amazing Prices" campaign, which will allow its customers to take price benefits from the company's increased efficiency and cost-saving.

After two years, the company is now confident its supply-chain system is second to none in the retail business, said chairman Sunthorn Arunanondchai.

The company's distribution and logistics systems are 33-per-cent more efficient, managing larger volumes. This has cut costs and enabled customers to buy a wide range of quality goods at great prices, he said.