Commerce Ministry gears for crises by improving commodity management

Permanent secretary Yanyong Phuangrach said the Internal Trade Department would soon survey producers’ inventories of food staples so it can calculate the appropriate level of reserves for |each product during unexpected situations.
The commodities that will be monitored by the ministry are palm oil, sugar, canned fish, rice, bottled water, chicken and shrimp.
The ministry has learned a lesson from this year’s inundation when consumers had to endure shortages of many goods during the past few months, Yanyong said.
For goods that are for domestic supply such as palm oil and bottled water, the ministry will calculate reserves for at least one to two months to prevent problems in the future.
To manage goods that are not only for domestic but also for overseas markets, including rice, chicken, shrimp and canned fish, the ministry will closely monitor stockpiles and prices to ensure that domestic consumers do not suffer from price gouging during a crisis.
The ministry will revamp the scheme to manage sugar stocks, as it has encouraged smuggling out of the country. Thailand pegs the retail price of sugar at Bt23.50 per |kilogram and sets a quota of 21 million to 22 million sacks for domestic supply. However, the price of sugar in neighbouring countries is higher.
A measure will be put in place to expedite imports of some necessities in case of deficiencies in the future, Yanyong said.
The ministry will spend Bt100 million to hold mega trade fairs to stimulate the post-flood domestic economy. At least three such fairs will be held around the country – one this year in Bangkok and two early next year.
Flood-affected enterprises can sell their goods at the fair, while farmers can buy cheap seeds, breeders and agricultural equipment. Repair services for machinery and farm equipment will be offered at low rates.
Consumers can find a variety of discounted goods to help relieve their cost of living, Yanyong said.