11 July 2024

Thailand’s Internal Trade Department has halted a plan by manufacturers to increase the prices of baby milk formula and canned fish, by about 10% and two baht per pack respectively, to cover increased production costs.

Deputy Government Spokesperson Rachada Dhnadirek said on Sunday that the department has informed the manufacturers that both are controlled products and that the department’s approval is needed if their prices are to be to be increased.

She noted that the retail prices of the two products might have gone up because some retailers increased them to offset the reduced profit margin.

Rachada said that soybean milk, the price of which is expected to be increased by 1-2 baht per pack, is not a controlled product, but any adjustment in its price must reflect the real production cost adding, however, that the Internal Trade Department is now looking into its production cost structure to work out a fair price adjustment.

Currently, 56 products and services are under price control in Thailand and officials are closely monitoring their price movements, especially those classified as sensitive, such as pork, fresh chicken meat and cooking oil.

Rachada said that the department may impose new measures if it finds that there are shortages of such products as soap, dish washing liquid, powdered milk, toilet paper or ready-made food.