Rumours of prices hikes for baby formula, canned fish denied by ministry
Rumours that the government has permitted price hikes for baby formula and canned fish are fake news, according to the Commerce Ministry’s Department of Internal Trade (DIT). However, retailers do have the green light to raise the price of soy milk, said government spokeswoman Ratchada Thanadirek on Sunday.
The ministry was responding to rumours that the prices of infant powdered milk and canned fish were set to increase by 10% and 2 baht per can respectively due to inflation and rising production costs.
Ratchada said both items were on the controlled-products list, meaning any price hike must be approved by the DIT.
“The department has asked manufacturers to fix prices so as not to add to people’s financial burden amid inflation.”
She added, however, that some brands may have increased prices because manufacturers have reduced discounts offered to retailers, who then raise prices to maintain their profit margin.
Regarding rumours of a 1-2 baht rise for a carton soy milk, Ratchada said: “Since soy milk is an alternative product and not controlled under the Price of Goods and Services Act of 1999, manufacturers can raise the price freely.”
However, the DIT has asked manufacturers to submit their cost structure so they can check if the price hike is reasonable, she added.
The prices of 56 products are fixed under the law. The DIT conducts regular market surveys to check that the prices of staple foods such as pork, fresh chicken and cooking oil do not exceed the limit.
The prices of controlled household necessities such as soap, dishwashing liquid, instant food, powdered milk, and toilet paper are checked twice a week.
Manufacturers of controlled products must also seek approval from the DIT before changing their formula, fragrance, or container size in a bid to reduce costs while maintaining retail prices.
