Thailand: Prices frozen for necessary consumer products

Commerce ministry and major producers also teaming up to offer other items at discounts

The prices of some necessary consumer products will be frozen while those of other products will rise, according to Commerce Minister Suphajee Suthumpun.

Prices of canned fish, instant noodles and powdered and liquid milk would be frozen as manufacturers still had old stocks, she said on Thursday after a special cabinet meeting on the impact of the Middle East war at Government House.

Manufacturers of such products would have to seek approval from the ministry’s Department of Internal Trade before raising their prices, she said. Soured milk is not included in the group.

Ms Suphajee also said the ministry would expand the price-freeze requirement to cover palm oil, toilet tissue, facial tissue, shampoo, detergent, dish-washing products, napkins and soap.

At present 59 kinds of products are on the ministry’s price-control list. For some items, producers can raise prices as long as they announce the change. For others, producers must seek prior approval for a price increase by providing data on their costs.

Seven more products will be added to the list, include plastic pellets because of their importance in the packaging supply chain, along with bottled drinking water and seasoning sauce including fish sauce.

“If product prices are to rise, we must look into their costs to keep reasonable increments,” Ms Suphajee said.

For items not on the price-control list, the ministry and large-scale manufacturers plan to distribute products with special discounts through wholesalers and retailers to help consumers, she said.

In addition, the ministry is teaming up with the Ministry of Agriculture and Cooperatives to help farmers control costs by promoting organic fertiliser as well as chemical fertiliser with more local content, Ms Suphajee said.

Source: BangkokPost