[THAILAND ECONOMIC NEWS] Good morning everyone I am Rumi Dhar from Kama Group.
Here I have important THAILAND economic news to share with you which is as mentioned
under.

Bangkok, Thailand – For Bangkok-based exporter Peyton Enloe, getting Thai fresh fruit and
vegetables onto Russian supermarket shelves has become an almost impossible task.

Russian consumers are cutting back on luxuries as the value of the rouble plummets to record
lows. Not only that, the Aeroflot planes Enloe relies on to transport his produce are running
out of space as flights fill up with Russian tourists cutting their holidays short.

“We’ve basically lost market access to Russia,” Enloe, managing director of Purithai Produce,
which ships fresh and frozen produce to Europe, America and Russia, told Al Jazeera.

“My Russian customers told me people don’t have money to even buy the basics, let alone
‘exotic’ produce like mangos, durians, rambutans.”

Russia’s economy is being hammered by Western-led sanctions introduced in response to
Russian President Vladimir Putin’s invasion of Ukraine.

But the outlook for Asia has also taken a sharply negative turn as the economic pain spreads
across the globe.

The region’s fragile post-pandemic recoveries have been thrown into doubt as oil prices
approach $140 a barrel, threatening a new round of rising inflation and supply chain
crunches – challenging governments that have already had to spend big during the pandemic
to find more resources to shield their populations from rising costs. Analysts expect oil prices
to rise further still after President Joe Biden on Tuesday announced a ban on imports of
Russian oil, gas, and coal.




Read more at: https://www.aljazeera.com/economy/2022/3/9/in-thailand-businesses-feel-economic-shock-of-ukraine-war

KAMA GROUP
New Delhi
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