ECONOMY / INFLATION
PHUSADEE ARUNMAS
Producers are seeking price increases for at least 10 products that rely heavily on imported raw materials following approval of price increases for palm and soybean oil last month.
Among them are makers of milk products, wheat flour-based foods, and construction materials.
Siripol Yodmuangcharoen, the permanent secretary for the Commerce Ministry, said the price increases would be at the discretion of the new Commerce Minister.
Santi Prompat of the People Power Party (PPP) is tipped to take the post.
Last month, the Internal Trade Department approved the price rises for a large number of products including palm oil, rice-bran oil and soybean cooking oil by another four baht per one-litre bottle.
Vatcharee Vimooktayon, the deputy director-general of the Internal Trade Department, said the price rises were to reflect rising raw-material prices.
The price of palm oil was raised last Friday to 47.50 baht a kilogramme to reflect rising costs of processors, while soybean cooking oil prices rose on Tuesday to 49.50 baht a bottle from 45.50 baht.
According to Ms Vatcharee, the department also approved a price increase for steel rods by three baht per kg and steel sheets by two baht per kg effective this month, in keeping with rising raw material costs.
In a separate development, the Energy Ministry late last month also allowed local traders to raise the retail price of cooking gas by three baht per 15-kg cylinder.
According to Ms Vatcharee, cooking gas is under the supervision of the Energy Ministry while the Internal Trade Department is empowered only to regulate labelling.
Responding to a report that the Liquefied Petroleum Gas Traders' Association would ask for permission to raise the transport cost by 3-5 baht per cylinder, she said her department would call a meeting with the association next week to discuss the issue.
Surachai Sutthitham, president of the Swine Raisers Association of Thailand, said pig raisers also increased the ex-farm prices of live pigs from 50 baht per kg to 55 baht as they could no longer shoulder rising costs, particularly those of animal feeds.
As a result, the retail price of pork has now risen to an average of 110-115 baht per kg from 90-95 baht.
However, according to Ms Vatcharee, the department has yet to see any request for price increases for cement products. She added the department was sending teams to investigate whether traders are hoarding cement and steel.
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