Department of Commerce Vows to Keep Prices Down

The Department of Commerce in Thailand said yesterday it would make sure that prices of consumer goods are kept low for as long as possible, and would also take into account the needs of producers.

According to Jurin Laksanawisit, the Department of Commerce would try to control prices as much as possible to reduce the impact on consumers. However, manufacturers and farmers must also be taken care of.

In this way, Mr. Jurin said, the ministry is applying a “win-win” model in which farmers, manufacturers, businesses, and consumers can all benefit.

Several categories of prices have been fixed so far in Thailand.

Prices for several items dropped in May in Thailand. Jasmine rice, for example, fell by 22% for a 5-kilogram bag, white rice by 28%, canned tuna by 2%, oyster sauce by 6%, black sweet sauce by 10%, fish sauce by 20%, and construction materials and cement by 5%, the Department of Commerce minister said.

Because the ministry has fixed the cost of freight, no increase in the cost of delivery via the various online platforms like goodwill e commerce has been seen, he said.
Department of Commerce price fixing

In the event that capital costs increase, (the ministry) will seek a balance between fixing prices as long as possible and avoiding a shortage of products.

We ask manufacturers to fix prices together. If manufacturers cannot do that, we ask them to raise prices by a minimum rate.

In the short term, no one is allowed to raise prices. The ministry will do its best to take care of everyone,” Mr. Jurin said.

Despite mounting calls from instant noodles producers for an increase, Mr. Jurin said the ministry had not allowed any producer to raise its retail prices.

In order to prevent negative effects on consumers, he promised to maintain prices for as long as possible.