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http://www.bangkokpost.com/business/news/350544/thai-bond-president-favours-cut-interest-rate-as-controls-hurt
Published: 17 May 2013 at 13.06
An interest-rate cut may be the best option to slow inflows that drove the baht to a 16-year high as capital controls would deter investors and push up funding costs, according to the Thai Bond Market Association.
The central bank may lower the one-day bond repurchase rate by as much as 50 basis points at its May 29 review, Niwat Kanjanaphoomin, the TBMA president, said in a May 15 interview in Bangkok.
Bank governor Prasarn Trairatvorakul has kept the policy borrowing rate at 2.75% since October, even amid government pressure to reduce it, as monetary easing in developed countries boosts the appeal of Asia’s higher-yielding assets.
Thailand is looking to attract investment as it plans to spend two trillion baht (US$67 billion) to build high-speed rail links to major cities from Bangkok over the next seven years. Finance Minister Kittiratt Na-Ranong urged the central bank to cut rates, and said on May 7 that policy makers have prepared other measures to curb inflows that threaten exports.
Niwat said the baht’s current level does not warrant any controls right now.
“We recommend the government do nothing that will impact long-term investors,” Niwat said. “If they spoil the confidence of investors, the cost of financing will be higher.”
‘Serious Problem’
As of Thursday, foreign companies had purchased US$589 million more Thai government debt than they sold this month, after net inflows of US$12 billion in the first four months of 2013, according to TBMA.
Rather than imposing currency measures, the central bank should lower interest rates and intervene in the foreign-exchange market “from time to time”, Niwat said.
The baht has retreated 4.3% since reaching 28.56 per US dollar on April 19 and April 22, the strongest level since the 1997 Asian financial crisis. It traded at 29.80 as of 11.36am in Bangkok and is still Asia’s best-performing currency in 2013 after gaining 2.5%, data compiled by Bloomberg shows.
Measures to cap the baht’s appreciation probably will not come in until “we get a really serious problem” at around 28 per dollar, or when the gains start to hurt the competitiveness of Thai exports, Niwat said.
Finance Minister Kittiratt said in a May 10 interview that the central bank should cut the policy rate by more than a quarter of a percentage point. Derivatives contracts are pricing in such a move.
Swap Rates
The one-year onshore interest-rate swap dropped 27 basis points, or 0.27 percentage point, to 2.38% this quarter and reached 2.27% on May 3, the least since February 2011, according to data compiled by Bloomberg.
Thailand’s Tisco Securities Co. predicts the central bank will keep its benchmark rate unchanged this month given the baht’s recent retreat and because the level of borrowing costs is still stimulating economic growth.
In Indonesia and the Philippines, interest rates are higher at 5.75% and 3.5%, respectively, compared with almost zero in Japan and the US Thai inflation has stayed below the policy rate in the last two months, official data show.
Bangkok-based Tisco is bullish on the Thai outlook, forecasting a government report on May 20 will show gross domestic product increased 5.7% in the first quarter, compared with the median estimate of 6% in a Bloomberg survey of 13 economists.
Policy Independence
Thailand’s GDP increased 18.9% in the final quarter of 2012 and 6.4% last year. That was more than full-year growth of 6.2% in Indonesia and near the 6.6% in the Philippines.
“I don’t think we need any rate cut to stimulate the economy,” Kampon Adireksombat, Tisco’s senior economist, said in a telephone interview on May 15. “There’s been talk over the rate cut and some investors already took positions on that. But if we see a rate cut, basically that means they take into account the pressure from the government and there may be some doubts about independence on monetary policy.”
The cabinet discussed four possible measures last week to stem capital inflows proposed by the Bank of Thailand. Those include mandatory hedging, barring foreigners from buying central bank bonds and setting a minimum three- or six-month holding period for government debt.
Sacrifice Opportunity
Thailand’s local-currency sovereign notes returned 1% last month, the best performance since October, according to an index compiled by HSBC Holdings Plc. Ten-year bonds are rallying for a fourth month.
The yield on the 3.625% securities due June 2023 dropped nine basis points in May to 3.32%, according to data compiled by Bloomberg. That was the lowest since the debt was sold in 2010. In Japan (GJGB10), yields on similar-maturity notes are 0.82%, while US Treasuries pay 1.87% and German bunds 1.33%.
Niwat said that even if the central bank lowers interest rates, returns are still better than elsewhere, which will keep funds flowing in.
Demand for baht-denominated debt is sufficient to cover supply, he said. Issuance of sovereign bonds maturing in 12 months or more is likely to be 700 billion baht this year, compared with about 686 billion baht in 2012, Niwat added.
The introduction of controls would mean “you take short-term benefit and sacrifice the longer-term opportunity,” he said.
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ผ่านทางplants.usda.gov/factsheet/pdf/fs_abba.pdf.
BALSAM FIR
Abies balsamea (L.) P. Mill.Plant Symbol = ABBAContributed by: USDA NRCS Plant Materials Program Alternate Names Pinus balsamea L. Uses Balsam fir is used primarily for Christmas trees and pulpwood, although some lumber is produced from it in New England and the Lake States. The wood is light in weight, low in bending and compressive strength, moderately limber, soft, and low in resistance to shock. Status Please consult the PLANTS Web site and your State Department of Natural Resources for this plant’s current status (e.g. threatened or endangered species, state noxious status, and wetland indicator values). Description Balsam fir is a small to medium sized coniferous tree. Growth occurs in whorls of branches surrounding an upright leader or terminal, making a symmetrical tree with a broad base and narrow top. It is relatively short-lived and is considered a sub-climax type species in the New England states, but may be a climax type in the zone below timberline. Needles are 3/4 to 1 inch long, flat, and often strongly curved. Twigs with needles have a generally flattened appearance. Both male and female flowers are found on the same branch. Cones are 2 to 4 inches long, purplish in color, and stand erect on branches (as do those of all true firs). There are about 60,000 seeds in a pound. The bark is smooth, thin, and grayish, distinguished by soft blisters containing a clear, odiferous resin known as Canadian balsam. Robert H. Mohlenbrock USDA NRCS 1995 Northeast Wetland Flora @ USDA NRCS PLANTS Adaptation and Distribution The soils on which balsam fir grows range from silt loams developed from lake deposits to stony loams derived from glacial till. Fir will grow, but comparatively slowly, on gravelly sands and in peat bogs. It grows on soils of pH ranging from 4.0 to 6.0. It is generally found in areas with a cold moist climate and with 30 inches or more of annual precipitation. Fir is subject to windthrow, especially on shallow wet soils. Because of its thin bark, shallow root system, and flammable needles, balsam fir is easily killed by fire. Balsam fir is distributed throughout the Northeast and upper Midwest. For a current distribution map, please consult the Plant Profile page for this species on the PLANTS Website. Establishment The use of natural regeneration methods for balsam fir is very effective on open and disturbed sites (heavily cut areas), but an adequate seed source must exist. This species can also be readily grown in nurseries, for transplanting to abandoned fields, Christmas tree plantations, and open areas. Use conventional tree planting techniques and equipment. Three or four year old seedling stock should be utilized. ManagementThis section is under development. Please consult the Related Web Sites links on the PLANTS Plant Profile. Cultivars, Improved, and Selected Materials (and area of origin) Although most available seedlings of balsam fir are of unknown parentage, some are produced from local selections.
Prepared By & Species Coordinator: USDA NRCS Northeast Plant Materials Program 31Jan2002 JLK; 24may06jsp For more information about this and other plants, please contact your local NRCS field office or Conservation District, and visit the PLANTS Web site<http://plants.usda.gov> or the Plant Materials Program Web site <http://Plant-Materials.nrcs.usda.gov> The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, sex, religion, age, disability, political beliefs, sexual orientation, and marital or family status. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at 202-720-2600 (voice and TDD). To file a complaint of discrimination write USDA, Director, Office of Civil Rights, Room 326-W, Whitten Building, 14th and Independence Avenue, SW, Washington, DC 20250-9410 or call 202-720-5964 (voice or TDD). USDA is an equal opportunity provider and employer. Read about Civil Rights at the Natural Resources Convervation Service.
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ผ่านทางplants.usda.gov/plantguide/pdf/pg_abam.pdf.
PACIFIC SILVER FIR
Abies amabilis (Dougl. ex Loud.) Dougl.Plant Symbol = ABAMContributed by: Santa Barbara Botanic Garden and USDA NRCS National Plant Data CenterSusan McDougal, The Flora of Mt. AdamsUsesPacific silver fir is used in urban landscaping and grown commercially for Christmas trees. When used for landscaping, sufficient space should be allocated for the relatively large size of mature trees. The soft, light-weight wood is weak and has low durability. It has been used for light construction frames, construction plywood, container veneer, and pulpwood.The dense growth of Pacific silver fir provides cover and protection during the winter for wildlife. Old-growth stands provide habitat for mountain goat, northern spotted owl, Vaux’s swift, western red-backed vole, and the Olympic salamander. Seeds provide food for birds, rodents, and squirrels, while the leaves of growing shoots are browsed by elk.StatusPlease consult the PLANTS Web site and your State Department of Natural Resources for this plant’s current status (e.g. threatened or endangered species, state noxious status, and wetland indicator values).DescriptionGeneral: Pine Family (Pinaceae). Pacific silver fir is a U.S. native conifer that ranges from 100 to 230 feet tall and up to 45 inches in diameter at the base. Like all true firs, it has erect, cylindrical cones that are borne near the tips of the uppermost branches. Secondary branches and twigs are typically in pairs, with leaves twisted or curved so that they tend to lie in one plane. Mature cones are 3.5 to 6 inches long and purple. Mature trees are erect, conical in outline, with spreading, spray-like branches and a scaly, gray to whitish bark. Young shoots have a dense, short, pinkish brown pubescence. Most of the needle-like leaves range from 0.5 to 1.3 inches long, are bright green, somewhat flattened, and have notched tips.Distribution: For current distribution, please consult the Plant Profile page for this species on the PLANTS Web site.AdaptationNative to the Pacific Northwest, Pacific silver fir ranges from southern Alaska to northern California. Well developed stands are primarily found at elevations from 1,000 to 7,000 feet on the coastal slopes of the Cascades. However, in the northern part of its range, stands occur well below 1,000 feet. Pacific silver fir usually occurs in uniform stands or associated with western hemlock (Tsuga heterophylla). The geographic range is characterized by a maritime to submaritime climate, with an annual precipitation between 40 to 260 inches per year, and average summer temperatures between 57 to 59 degrees F. Plants have a mild frost tolerance and a low tolerance for frozen soil conditions. Soils are usually very moist, somewhat acidic (pH 5), and rich in magnesium and calcium. A thin bark and highly flammable foliage contribute to low levels of resistance to fire.EstablishmentPacific silver firs reproduce only from seed. Both pollination and seed dispersal are effected by wind. Plants are capable of self-fertilization and produce mature cones and seeds two years after pollination. Cones disintegrate while on the tree and seeds are
either dispersed by wind or small mammals. Cool moist sites are optimal for germination, but full sunlight produces maximum growth. Germination can occur on a variety of substrates, including litter, rotten wood, moss, and organic and mineral soils.
Management
Management for most fungal diseases involves thinning at least 25 feet from dead trees and minimizing wounding during logging or trimming. Treating remaining stumps with fungicide or stump removal after logging is useful in preventing further contamination. In some cases, removal of infected trees and trunks should be practiced as soon as disease is diagnosed. Air drying large stumps often reduces chances of further infection.
Pests and Potential Problems
Pacific silver firs are susceptible to several fungal diseased, including Annosus root disease (Heterobasidion annosum). Infected trees may show retarded leader growth, sparse and chlorotic foliage, stem decay, and abortive cones. The most reliable way to detect this disease is by the presence of fruiting bodies in the duff layer at the root collar on the outer bark. Trees become infected by rood contact or by airborne spores falling onto woonds. Other fungal diseases include Indian paint fungus (Echinodontium tinctorium) and laminated root rot (Phellinus weirii). Both can infect stands of trees and result in patches of damaged or dead trees.
Trees weakened by disease or poor growing conditions may become infested with fir-engraver beetle (Scolylus ventralis), silver fir beetle (Pseudohylesinus sericeus), or fir root bark beetle (Pseudohylesinus granulatus). In large numbers, these beetles may kill entire trees before any symptoms are observed. Pacific silver firs are also susceptible to Western spruce budworm (Choristeneura occidentalis), Douglas fir tussock moth (Orygia pseudotsugata) infestation. Applying fertilized and varying the age and density of stands reduces the infestation. Balsam wooly aphids (Adelges piceae) are an extremely devastating pest to this species. Infected trees appear swollen with little growth and usually die from the top down within 2 to 3 years. To prevent further infestation, most trees need to be removed and the site rplanted with such species as western hemlock.
Seeds and Plant Production
Cone production may begin at an age of 20 to 30 years. Each cone can produce up to 400 seeds, but the percentage of viable seed ranges from 6.3 to 35 percent. Preferred methods of cone collecting include extension poles with appropriate pruners. Cones should be collected between mid and late August or just prior to disintegration. They should be stored in well-ventilated bags or sacks at temperatures between 70 and 80 degrees until the cones have disintegrated. Seeds can be extracted mechanically by using screens and then cold-stratified under dry conditions at temperatures between 10 and 30 degrees F for 4 to 6 months. Germination is best accomplished by placing them in a moist, well-aerated soil mix at temperatures between 35 and 40 degrees F. Light enhances germination and development of seedlings. Plant can be grown either individually in containers or in flats prior to transplantation. Under field conditions, seed should be sown in the spring at a density of 62.5 to 125 per acre and approximately 0.25 inches deep. During the first few years, growth ranges from 4 to 16 inches annually. Fertilizer combined with thinning enhances growth.
Cultivars, Improved, and Selected Materials (and area of origin)
Contact your local Natural Resources Conservation Service (formerly Soil Conservation Service) office for more information. Look in the phone book under ”United States Government.” The Natural Resources Conservation Service will be listed under the subheading “Department of Agriculture.”
Cultivars include a slow-growing, broadly ovoid form, ‘Compacta’ and a low-growing, spreading form with horizontal branches, ‘Spreading Star.’ Retail nurseries in the Pacific Northwest that stock native shrubs and trees may carry the cultivars.
References
Arno, S. & R. Hammerly. 1977. Northwest trees. The Mountaineers, Seattle, Washington. 222 p.
Dickman, A. & S. Cook. 1989. Fire and fungus in a mountain hemlock forest. Canadian Journal of Botany 67:2005-2016.
Filip, G. & C. Schmitt. 1990. Rx for Abies: Silvicultural options for diseased firs in Oregon and Washington. USDA Forest Service, Pacific Northwest Research Station, Gen. Tech. Report 252. 34 p.
Klinka, K., V. Krajina, A. Ceska, & A. Scagel. 1989. Indicator plants of coastal British Columbia. University of British Columbia Press, Vancouver. 288 p.
Krajina, V., K. Klinka, & J. Worrall. 1982. Distribution and ecological characteristis of trees and shrubs of British Columbia. University of British Columbia, Vancouver. 131 p.
Oliver, C. & R. Kenady (eds.). 1982. Proceedings of the biology and management of true fir in the Pacific Northwest. University of Washington, College of Forest Resources, Contribution No. 45, Seattle.
USDA NRCS. 2007. The PLANTS website. http://plants.usda.gov. Accessed 070117. National Plant Data Center, Baton Rouge, Louisiana.
Prepared By
Dieter Wilken, Santa Barbara Botanic Garden, Santa Barbara, California
Species Coordinator
Dieter Wilken, Santa Barbara Botanic Garden, Santa Barbara, California
Edited: 070117 jsp
For more information about this and other plants, please contact your local NRCS field office or Conservation District, and visit the PLANTS Web site<http://plants.usda.gov> or the Plant Materials Program Web site <http://Plant-Materials.nrcs.usda.gov>
The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, sex, religion, age, disability, political beliefs, sexual orientation, and marital or family status. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at 202-720-2600 (voice and TDD).
To file a complaint of discrimination write USDA, Director, Office of Civil Rights, Room 326-W, Whitten Building, 14th and Independence Avenue, SW, Washington, DC 20250-9410 or call 202-720-5964 (voice or TDD). USDA is an equal opportunity provider and employer.
Read about Civil Rights at the Natural Resources Convervation Service.
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family_characters1.pdf (วัตถุประเภท application/pdf).
วงศ์เล็บครุฑ ARALIACEAE
ลักษณะประจำวงศ์
ไม้ล้มลุก ไม้พุ่ม หรือไม้ต้น หูใบมักเป็นลิ้นบาง ๆ อยู่ที่โคนก้านใบ ใบ เดี่ยว ขอบจักคล้ายขนนก หรือใบประกอบแบบนิ้วมือ ติดเวียนสลับ ดอก ออกเป็นช่อแบบซี่ร่มท่อกลีบเลี้ยงเชื่อมติดกับรังไข่ ปลายท่อเป็นซี่เล็ก ๆ กลีบดอกแยกจากกัน หลุดร่วงง่าย มีจานฐานดอกขนาดใหญ่ รังไข่ติดใต้วงกลีบ ผล มีเนื้อหลายเมล็ด หรือเมล็ดแข็งเมล็ดเดียว
ลักษณะเด่นของวงศ์
ช่อดอกมักออกเป็นช่อแบบซี่ร่มที่ปลายยอด กลีบเลี้ยงและกลีบดอกมีอย่างละ 5 กลีบ ก้านเกสรเพศเมียมีจำนวนเท่ากับช่องในรังไข่ แยกจากกันหรือเชื่อมติดกันแต่ละช่องมีไข่อ่อน 1 หน่วย
การกระจายพันธุ์
ในเขตอบอุ่นและเขตร้อน ในประเทศไทยมีประมาณ 17 สกุล ส่วนมากอยู่ในป่าดิบเขา และป่าดิบชื้น เช่น
• สกุล Aralia ใบประกอบแบบขนนก 2-3 ชั้น ก้านเกสรเพศเมียเด่นชัด เช่น คันหามเสือ Aralia montana Blume
• สกุล Brassaiopsis ใบมีขนาดใหญ่ จักลึกแบบนิ้วมือ เช่น ผักหนามช้าง Brassaiopsis hainla (Buch.-Ham. ex D. Don) Seem.
• สกุล Eleutherococcus ไม้ต้นกึ่งไม้พุ่ม มีหนาม มี 1 ชนิด คือ ผักแปม Eleutherococcus trifoliatus (L.) S. Y. Hu พบที่ภาคเหนือ
• สกุล Polyscias ไม้ต้น ไม้พุ่ม ใบประกอบแบบขนนก เป็นพืชมาจากต่างประเทศ (exotic plant) เช่น เล็บครุฑ Polyscias fruticosa (L.) Harms
• สกุล Schefflera ไม้ต้น ไม้พุ่ม ไม้อิงอาศัย ใบประกอบแบบนิ้วมือ มีใบย่อย 5-7 ใบ เนื้อใบหนามัน ปลายใบมนหรือกลม พบในป่าที่ต่ำ และป่าดิบเขาชื้นมีทั้งในแถบเขตร้อนและเขตอบอุ่น เช่น นิ้วมือพระนารายณ์ Schefflera heptaphylla (L.) Frodin
• สกุล Trevesia ใบมีขนาดใหญ่ จักลึกแบบนิ้วมือที่โคนแต่ละพูมีเนื้อใบเชื่อมติดกันเป็นพืด เช่น ต้างหลวง Trevesia palmata (Roxb. ex Lindl.) Vis.
ประโยชน์
พืชในวงศ์นี้ที่ใบกินได้ ได้แก่ พวกเล็บครุฑ Polyscias ที่เป็นไม้ประดับ ได้แก่ Polyscias บางชนิด และ Schefflera ที่เป็นพืชสมุนไพร ได้แก่ พวกโสม Panax (Ginseng)
