BANGKOK, 31 August 2011 – The Department of Internal Trade (DIT) is planning to revoke the price ceiling for pork and replace it with a recommended price of 140 THB per kilogram next week as the expensive pork problem is easing.
DIT Director-General Vatchari Vimooktayon disclosed that on Friday the department would hold a meeting to consider the cancellation of the price ceilings of 152 THB a kilo for pork and 81 THB a kilo for live pigs. She reasoned that the farm price of live pigs had been lowered to 76-77 THB per kilo due to the measure suspending swine exports, which had caused the pork supply in the domestic market to rebound.
If the pork price ceiling is lifted, the DIT will likely announce a recommended price of 140 THB per kilo in its place.
On the other hand, Ms Vatchari asserted that the temporary ban on swine exports, which was proposed by the Swine Raisers Association, would be retained because the decline in pork price was considered minimal. According to the DIT chief, the ban would no longer be necessary if the price of pork decreases further to touch 120 THB per kilo and the price of live pigs to 65 THB per kilo.