Thailand keeps goods prices on a ‘win-win model’ basis

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Jurin said the Ministry of Commerce was trying to control prices to minimize impacts on consumers however the ministry would also have to take care of manufacturers and farmers.

Commerce Minister Jurin Laksanawisit said the Ministry of Commerce was handling goods prices on a “win-win model” basis in the hope that the prices of all goods would be frozen as long as possible.

Mr Jurin said the Ministry of Commerce was trying to control prices to minimize impacts on consumers. However, he said, the ministry would also have to take care of manufacturers and farmers.



“We will use the win-win model for the interest of all parties including farmers, raw material producers, business operators and consumers,” he said.

The prices of goods in many categories were frozen and the prices of many product items were reduced last month. Mr Jurin cited that the prices of bagged Hom Mali fragrant rice dropped by 22% and the prices of 100% white rice in five-kilogram bags was decreased by 28%. Prices went down by 2% for canned tuna, 6% for oyster sauce, 10% for black soy sauce, 20% for fish sauce and 5% for construction materials and cement.



Mr Jurin said delivery fees did not rise because his ministry asked operators to maintain present fees. If costs soared, the ministry would balance between efforts to freeze prices as long as possible and sufficient supplies, he said.

Losses would force manufacturers to stop their production. If price increases were necessary, increments would be minimal, Mr Jurin said. At present, the Ministry of Commerce did not allow any price rise, he said. (TNA)