The Department of Internal Trade Promotion (DIT) has temporarily frozen plans by manufacturers to raise prices for baby milk formula and canned fish to cover increased production costs, citing regulations being enforced by the government.
According to Deputy Government Spokesperson Rachada Dhnadirek, the DIT has informed the manufacturers that both products are considered “controlled” and require approval from the department before any price hikes can be implemented.
In the case of soymilk, which was expected to see a 1-2 baht per pack increase, Rachada noted that it is not a controlled product, but the price adjustment must reflect the real production cost. The Internal Trade Department is currently looking into the production cost structure of the particular item to determine a fair price adjustment.
There are currently 56 products and services under price control in Thailand, with officials closely monitoring their price movements and particularly those classified as sensitive, such as pork, fresh chicken meat and cooking oil.