At least twice a month –- on the first and sixteenth days – millions of Thais hope and pray that their fortune will change.

They are glued to their TV set or mobile phones, anxiously waiting for lottery results praying for a miracle.

Thais are increasingly addicted to lottery. The National Statistical Office of Thailand reveals that 47 percent of Thai families played lottery and lotto in 2017, up from 11 percent in 2009.

Every fortnight, lottery addicts try to look for luck by scratching tree trunks or browsing the internet for any clue. It is no surprise that “lottery tips” is one of the most googled words by Thais.

In 2017, each Thai family spent Bt4,660 per year to buy lottery and lotto, increasing from Bt3,407 in 2009, according to the National Statistical Office.

Siam Commercial Bank’s Economic Intelligence Center (SCB EIC) also finds that low-income earning families increase their spending on lottery and lotto at the rate exceeding the pace of their pay rise.

People with income lower than Bt15,000 per month spend around Bt350 or 2.2 percent of their income on lottery….

Read the complete story on Thailand Business News

The Ministry of Commerce has stressed the government’s efforts to solve low pricing of oil palm kernels, bringing forward measures over the next two months to bring down the stock volume to a normal level.

The Department of Internal Trade Director General, Wichai Phochanakij revealed today the government has been working to resolve the low oil palm kernel pricing faced by farmers, with the Ministry of Commerce proposing palm oil stock rebalancing measures which were approved by the National Palm Oil Policy Committee on 1st November 2018, and later proposed to the Cabinet on 20th November 2018 to expedite the use of 160,000 tons of palm oil in stock for electricity generation at Bang Pakong power plant, promoting consumption in the energy sector, and re-balancing palm supply and demand in the country.

One of the factors leading to poor palm oil pricing is the warm climate causing palm fruit to become ripe prematurely, leading farmers to sell the produce to oil extractors resulting in higher costs and lower yields, while many farmers are speeding up the harvest at their farms to find money for tuition fees for their children as the new school term approaches.

The decision by the European Union to cancel the use of palm oil as a biofuel ingredient, and the increase in import tax by India which is the world’s largest palm oil importer also affected the pricing.

The Department of Internal Trade has been accepting registrations from crude palm oil producers to supply the Electricity Generating Authority for electricity generation from 2nd January to 1st March 2019. The campaign has reached the 160,000 tons goal. The EGAT has so far received 152,000 tons of palm oil, with 8,000 remaining to be shipped this month.

The department is also promoting the use of B20 biodiesel at 20 million liters daily. Related agencies are now working to issue B20 certifications for compatible car engines, encouraging manufacturers to produce more models compatible with B20, and providing a discount on B20 sales to be 5 baht per liter less than diesel oil, and providing tax discounts for biodiesel vehicles. These measures are expected to create more than 1,270,000 liters of palm oil consumption annually.

The DIT director general added that these measures will help bring down in-stock palm oil from 370,000 tons to a normal margin over the next two months, which will help stabilize the prices farmers receive in the future.

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BANGKOK, 26 April 2019 (NNT) – Non-performing assets (NPAs), including second-hand houses, offered by the Government Housing Bank (GH Bank) have drawn interest from the general public. In 2018, the GH Bank sold second-hand houses with a total value of over four billion baht, higher than the target by 358 million baht. In the first quarter of this year, more than one billion baht worth of second-hand houses were sold and the bank will auction about 4,100 second-hand houses this Saturday (Apr 27).

The GH Bank President, Chatchai Sirilai, said the bank’s NPAs have been popular among the public because the bank has measures to ease their financial burden. People can visit ghbhomecenter.com to check out many second-hand houses and special deals at different events. The bank will run its NPA auction four times a year.

On Saturday, the GH Bank will auction about 4,100 houses, including detached and semi-detached houses, commercial buildings, apartments, and vacant land, at discounted prices. The auction of 854 NPAs in Bangkok and nearby provinces will be held at the GH Bank headquarters on Rama IV Road. The auction of 3,246 NPAs in regional areas will be held in different branches of the GH Bank nationwide.

Auction winners can enjoy the bank’s zero-percent interest instalment plan. The highest bidder can live in the house once they pay the price they submitted. For more information, please visit www.ghbank.co.th.

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