Bangkok, Dec. 1 – FTI opens a poll of industry executives – The Federation of Thai Industries Points to the problem of oil prices – lack of containers – rising freight costs, reducing revenues by 10-20%. Expect the trend of industrial production costs in the next 3-6 months. increased by 10–20%
Wirat Uanarumit, vice president of the Federation of Thai Industries (FTI) revealed the results of the 12th FTI Poll in November 2021 under the topic “Expensive goods, rising costs, how much will affect the Thai economy?” FTI views that the factors that cause the cost of production to rise until it affects the price of the product. This was due to rising global oil and energy prices, as well as container shortages and high freight rates. which such effects As a result, the income of operators is reduced by 10–20% and the trend of industrial production costs in the next 3-6 months is expected. will continue to increase by 10-20%. Therefore, it is proposed to ask the government to help support energy prices, fix electricity prices (FT) and reduce utilities (electricity, water supply) to mitigate the economic impact both in Entrepreneurs and the public as well as suggesting that entrepreneurs use technology to increase efficiency in production and product development to maintain the competitiveness of the industrial sector
Based on a survey of 160 CEOs, including executives from 45 industry groups and 76 provincial industry councils. The results of the 12th FTI Poll survey consist of 8 questions as follows:
- Factors that cause production costs to rise and affect product prices
1st place: Global oil and energy prices rose 87.5%
2nd place: Container shortage and rising freight costs 61.9%
3rd place: the volatility of the baht and fiscal and monetary policy 53.1% - from rising raw material and energy prices How many percent does the business increase the production cost?
1st place: 10 – 20% 55.6%
2nd place: 30 – 50% 21.9%
3rd place: less than 10% 15.6% - How does the increase in production cost from item 2 affect the operating results?
1st place: income decreased by 10 – 20% = 44.4%
2nd place: income decreased less than 10% =26.3%
3rd place: income decreased by 30 – 50% =15.6% - The government should have measures to help. and how to mitigate the impact of rising production costs
1st place: support energy prices, fix electricity prices (FT) and reduce utility bills (electricity, water supply) 80.6%
2nd place: tax measures such as tax deduction, refrain from withholding tax, extending income tax installment period, expediting tax refund 67.5%
3rd place : Reduce fees / procedures for exporting products and expedite the problem of 56.9% container shortage - How should the industrial sector cope with rising production costs?
1st place: Technology is used to increase production efficiency and product development by 75.6%.
2nd place : Energy saving and using renewable energy in production 65.6%
3rd place: Implement a management system to help reduce production costs such as LEAN Manufacturing 60.0% - from the state of expensive goods What measures will help mitigate the impact on consumers?
No. 1 : Reduce utility bills (electricity, water supply) and freeze energy prices by 79.4%
2nd place: personal income tax deduction and extending 58.8% tax filing time
3rd place: Support subsidies, reduce living expenses such as half-person projects Sales of blue flag products 55.6% - The industrial sector can bear the burden of rising costs. without affecting the price of the product for how long
1st place : 3 – 4 months 41.9%
2nd place: 1 – 2 months 36.3%
3rd place: need to increase the product price immediately 18.1% - Forecast the trend of industrial production costs in the next 3-6 months compared to the present
1st place : Cost increase 10–20% 65.6%
2nd place: cost increased by more than 30% 17.5%
3rd place: costs remain stable 16.3% – Thai News Agency
