Price-control review due in light of global economy, disaster factors
The Commerce Ministry will propose |to the goods and services price committee that it review the price-control list |for next year, as factors influencing |prices are always changing, Vatchari Vimooktayon, director-general of |the Internal Trade Departmen
The ministry will concern itself more with global economic factors and unexpected natural disasters when determining price controls. China and other Asian markets will become the main drivers of the global economy, while floods and other disasters will play a more important role in the changing prices of goods, Vatchari said.
Other global factors to be considered by the department next year are the prices of oil and major commodities when determining local price controls to keep down the cost of living, she said. For instance, fertiliser and steel are products whose prices will be affected by activities and policies in China.
The goods and services price control committee is scheduled to meet in the second week of January. Commerce Minister Kittiratt Na-Ranong will chair the meeting.
Currently, the department has 41 products in its price-control list including rice, cooking oil, milk and student uniforms.
It added 16 products to the list after complaints of unfair practices by re-|tailers and hoarding amid the severe floods in late October. Those items are bottled water, paper napkins, flash-|lights, batteries, toothpaste and toothbrushes, sand, plastic sandbags, bricks, life vests, plastic boats, rubber boots, sleeping bags, water tanks, water pumps, foot-disease remedies and |candles.
Vatchari said that as a measure to ensure a stable supply of cooking palm oil, the department would require producers to have a buffer stock at least 150,000-160,000 tonnes.
The government also needs to |relax regulations on import of crude palm oil in case of a shortage or skyrocketing prices of oil palm in Thailand, she said.
Meanwhile, as a measure to reduce the cost of living, 7-Eleven stores in cooperation with the department will sell low-price ready-to-eat food at Bt25-Bt30 per set combined with one bottle of drinking water in 11 provinces that were affected by inundation. More than 4,000 7-Eleven outlets will join the project, which will run from December 23-29.
To help encourage domestic spending before New Year’s, the Commerce Ministry will also hold a post-flood |economic-stimulus fair at Impact Muang Thong Thani from December 22-28.
