Worries rise as baht scales six-year high

[sandyf]

6 hours ago, Xonax said:

Am I the only one wondering, why non of the extremely expensive imported grocery products, that most of us foreigners buy, are not becoming cheaper in the stores, when they are becoming so much cheaper to purchase?

A very valid and logical point on the surface, but based on everything else being equal. Unfortunately that is not the case. The goods in question would be subject to inflation a bit above that we normally see in Thailand. In the UK average inflation is just over 2 percent but some products will be above and some below. The other unknown is the cost of transport, up and down faster than you know what.

The baht has increased by about 6% since the start of the year, if the cost of import had risen by the same percentage then theoretically prices would remain the same.

I am not disputing that profiteering is not present, that is fairly obvious from the fact that the same product can be found at different prices, but it may not be as rampant as appears on the surface.

When I first came here in 99 the baht was 60/£ and a pint of imported British beer was around 280 baht, these days similar beer is readily available around 180 baht, its not all downhill, apart from the cheese.

 

[RichardColeman]

Meh, I was poor before the Thai baht went mad, I'm just a little poorer now is all

[Time Traveller]

What do they expect when a country of 60 million people has 40 million foreign tourists visit every year? 

The currency will only strengthen.

[dallen52]

7 hours ago, Cadbury said:

 

More gloom on the way.

"......Jitipol Puksamatanan, Bangkok-based chief strategist at Krung Thai Bank Pcl. The third most-accurate forecaster for the currency last quarter predicts the baht will rise to 30.25 per dollar by the end of the year".

Another kick in the teeth for exports and still PM Prayut says nothing, his silence is deafening which is a worry.

One would expect him to say something since he recently appointed himself to the Chairmanship of the Council of Economic Ministers. Surely that makes him the official spokesperson. One can only conclude he is unsure of himself and doesn't know what to say.

Prayutnomics, it appears, is not working. Except perhaps that the 20 Year plan will ensure the rich will be richer and the poor will be poorer.

https://fortune.com/2019/08/06/thai-baht-currency-war-trade/

Its great for buying 150 Apvs (Armored personnel vehicles) from the USA. 

In US $.

And submarines from China. 

Baargain...

[dallen52]

23 minutes ago, RichardColeman said:

Meh, I was poor before the Thai baht went mad, I'm just a little poorer now is all

Her in doors (my thai partner) does not understand why I have 20,000 baht a month less.

"What you do with it" she says.

[JohanB]

5 hours ago, NCC1701A said:

"Baht strong like Army. Strong good. Weak bad."

”Yes, the best performing currency in the SE Asia.

My god how good I am to manage the economy”

[Jadam]

7 hours ago, Xonax said:

Am I the only one wondering, why non of the extremely expensive imported grocery products, that most of us foreigners buy, are not becoming cheaper in the stores, when they are becoming so much cheaper to purchase?

Why would they lower the price if people are willing to pay the current price.  That would be stupid.  Unless there's competition (if several stores have the same/similar imported products) then one might lower the price when the cost goes down.  But if only one shop has it, they'll likely keep the price the same and earn a higher profit.

[MaxYakov]

2 hours ago, Globe Trotter said:

2 hours ago, MaxYakov said:

I found out this morning that Mac Donald's soft serve ice cream cone has more than doubled to 20 baht from its historic 9 baht price (while I wasn't looking I suppose). The cone is the only thing I buy there and this time I scoffed and walked out.

 

I'm minimally exchanging good money for baht from now on out. Not buying anything above the absolute minimum (or so I've resolved, anyway)

 

 

You actually eat 'food' from Mac Donald's? oh boy 

Actually not. I don't believe they sell any 'food'. ????

[NanLaew]

6 hours ago, Cadbury said:

Imported goods should automatically become cheaper because of the baht. Lower for the importer that is.

And that's where it stops and doesn't get passed on; or if it does get passed on to the wholesaler it is unlikely to get any further than that. Certainly not to the consumer. It's called greed.

If there was such a thing as a Perceived Greed Index Thailand would be at the top.

I think that most importers, including Thai ones, buy IN BULK so whatever is on the shelves right now won't have cost them any less money just because TODAY'S exchange rate is different.

 

If there's such a thing as the predictable Thai bash, you are taking the (more expensive imported) biscuit.

[NanLaew]

1 hour ago, Neeranam said:

They k now only rich whiteys buy it.

...three bottles or jars at a time of which two will always go well past their use-by date and get binned. Then they go back and buy to or three more.

 

More money than sense really.

[sammieuk1]

Bargain of the day Rimping supermarket 11 fresh sprouts 204bt 50p a sprout Christmas is canceled ????

[leeneeds]

Daughters shop has dramatically lost customers due to the rising prices.

most average drinks , chips on weekends are now not bought.

The shop is just now a whiskey and beer shop, for those that can afford to purchase.

[NightSky]

6 hours ago, Nyezhov said:

What cheese was that then? I have to go to Tops to stock up on my fav coffee.

I’m in the Uk with the wife, she can’t beleive how cheap food is here, 1 gbp for a punnit of any fruit, 1gbp for 10 bananas, 2 gbp for palma ham and salami, 4gbp for a full cooked roasted chicken, 1 gbp for a litre of milk, 4 gbp for a 200g Nescafé gold coffee, the free range eggs are cheaper and gigantic here in comparison to those tiny Thai battery eggs and the list goes on etc etc etc. 

 

She wants to move here now to live a better standard, I can’t blame her etc things do look rather cheap and lush here at the moment.

[Thaifriends]

3 minutes ago, NightSky said:

I’m in the Uk with the wife, she can’t beleive how cheap food is here, 1 gbp for a punnit of any fruit, 1gbp for 10 bananas, 2 gbp for palma ham and salami, 4gbp for a full cooked roasted chicken, 1 gbp for a litre of milk, 4 gbp for a 200g Nescafé gold coffee, the free range eggs are cheaper and gigantic here in comparison to those tiny Thai battery eggs and the list goes on etc etc etc. 

 

She wants to move here now to live a better standard, I can’t blame her etc things do look rather cheap and lush here at the moment.

 

Are these fruits and chicken made in China? ????

[NightSky]

5 minutes ago, Thaifriends said:

 

Are these fruits and chicken made in China? ????

No but if it’s any comfort to those who feel the need to justify living in Thailand winter is around the corner and then I’m sure the wife like me will be wanting to come home to Thailand.

 

there are reasons for and against both countries although the food here is really really cheap when converting to thb as a comparison

[alzack]

Just how the Expats with pounds or Euros can stay here is a mystery really, a lot of worry for a lot of guys God luck, they dont want you here at all!

[NightSky]

5 minutes ago, alzack said:

Just how the Expats with pounds or Euros can stay here is a mystery really, a lot of worry for a lot of guys God luck, they dont want you here at all!

Look up the China grand plan, the Chinese see westerners as barbarians and they want us off the Asian soil. 

 

China have a lot if influence in SEAsia now.

[thecyclist]

8 hours ago, Xonax said:

Am I the only one wondering, why non of the extremely expensive imported grocery products, that most of us foreigners buy, are not becoming cheaper in the stores, when they are becoming so much cheaper to purchase?

Has always been like this, when the Baht weakens, prices of imported goods go up, and they stay up when they Baht reverses course :Marking down of prices is not part of Thai retailers vocabulary, they do that only for 'promotions' to get rid of excess stocks nearing their expiration date. 

[Skeptic7]

9 hours ago, Xonax said:

Am I the only one wondering, why non of the extremely expensive imported grocery products, that most of us foreigners buy, are not becoming cheaper in the stores, when they are becoming so much cheaper to purchase?

Been the Thai Way for a LONG time now. Gouge gouge and gouge some more. 

[singking]

Look up the China grand plan, the Chinese see westerners as barbarians and they want us off the Asian soil. 
 
China have a lot if influence in SEAsia now.

As for the barbarian remark, if they do believe that then they’re pretty well on the money.


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[xylophone]

4 hours ago, fforest1 said:

Maybe some of the higher end wines are a bit cheaper but the low-so boxed wine has not gotten any cheaper not one baht cheaper......

I wouldn't know about the price of the boxed wine as I don't drink the stuff, or indeed anything with fruit juice and it, but I can bear witness to the fact that Big C are now selling an Italian wine "Passimento" (same as the method of drying grapes slightly before fermenting them) for 624 baht a bottle when just a short while ago it was in the late 700s.

 

A few of the other cheaper Aussie bottled wines did come down in price from 499 baht to 429 baht for a short while, but I see they have gone back up again.

 

I am buying bottled bona fide (non-fruit juice) Aussie wines for 380 baht a bottle at the moment, and they are not half bad!
 

[Artisi]

9 hours ago, Xonax said:

Am I the only one wondering, why non of the extremely expensive imported grocery products, that most of us foreigners buy, are not becoming cheaper in the stores, when they are becoming so much cheaper to purchase?

Don't think too much, not good for your health, just be thankful you are assisting many companies to greatly improve their bottomline ????????

[Artisi]

4 hours ago, Guderian said:

I went to my favourite steak restaurant in Pattaya last week, Steak & Co, specialising in imported Australian steak. In spite of the sharp fall in the value of the AUD against the Baht, the price of a small fillet had gone up by around 100 Baht, or 15%. Is there a shortage of Australian steak or something that's causing prices to skyrocket? Or is it just blatant profiteering by somebody in the supply chain?

Guess ????

[happy chappie]

I've been saying this since brexit.the importers and distributors are having it off and banking very nicely.i can't understand that there's people who really think they would pass any savings on.

[Oliver Holzerfilled]

5 hours ago, hotchilli said:

Personally speaking I didn't relocate to Thailand and expect to buy what I could get at home.... nor want to!

Duh!  Obvious from your icon!

[EricTh]

2 hours ago, NightSky said:

Look up the China grand plan, the Chinese see westerners as barbarians and they want us off the Asian soil. 

 

China have a lot if influence in SEAsia now.

I wouldn't blame them because we 'barbarians' did colonize many Asian countries in the past.

 

I can understand that they wouldn't want the same situation to happen again.

[EricTh]

5 hours ago, Globe Trotter said:

from concentrate?? I'll pass thanks mate 

What's wrong with concentrate? Mind elaborating?

[Cadbury]

1 hour ago, ThePioneer said:

I think that the imported food items Thai importers buy in bulk have an expiry date, which on most of the stuff is 1 or 2 months maximum for almost everything except dried and canned foods.

 

If there's such thing as the predictable superior feeling smart ass comment, that must have been your post.

Give him a break. He has been banging his head against the wall for a long time and maybe it's taking it's toll.

Either that or it's a relaxing Sunday and other factors are in play.

Usually he comes out with something intelligent but not today.

[cme]

Since I first came here the $, Eu and £ have all fallen at least 3-40% against the Baht. This means all imported food should be at least 30% cheaper than than they were at that time, even compensating for manufacturers increases. However, what happens is that prices increase each year, usually at a rate corresponding to the rate they should fall. This means massive and incredible profits are being made, year in year out for the handful of powerful families that control everything that enters Thailand. It's perfect for them, with their ever more and stronger Baht profits they can purchase more and more cheaper $, overseas properties etc etc. Should the Baht ever fall, then they can bring back the overseas profits for even more Baht. What's not to like?

[stereolab]

6 hours ago, Ashto said:

You’ve lost me a bit. Is it 500g for 249 baht,  or 2x500g for 249 baht?

 

PS may have to move this to the cheese forum ????

Price is for 1 pack of either Tasty or Vintage cheese, 500g for 249baht. It makes little sense, I know, as a pack weighing 250g is usually about 205 baht, with minor variations.