THAI FLOODS WORSEN
Thailand has been experiencing the worst flooding in 50 years. The Thai Prime Minister has declared an emergency holiday from October 27th-31st. The Bangkok domestic airport has been closed and the main port is diverting much of the cargo to alternate ports such as Laem Chabang.
The rains have so far been concentrated in the North but the waters have been flowing down south and are now greatly affecting Bangkok. It is reported that about 50% of Bangkok is now under water. The Thai government states that 14,500 million cubic meters of water from the north still needs to flow thru Bangkok and its surrounding areas. The government reportedly can only drain about 400 million cubic meters of water per day. Theoretically, it could take a month to drain the water from Bangkok.
Most agricultural factories are in the South and are still operating. However, the flooding is putting a strain on the supply chain as trucks are not able to traverse flooded roads. Most urgently, several can, carton and label manufacturers/printers have had to close due to flooding. Some workers are not able to report for work.
We are closely monitoring the situation and will report accordingly.