Pork and Eggs – Too Expensive Says Thai PM

Pork and Eggs – Too Expensive Says Thai PM

 

The trade cost of pork and eggs in Thailand is potentially set to drop over the next few months as Thai Prime Minister, Abhisit Vejjajiva, authorised the Commerce Ministry to begin plans to reduce prices without having a direct and severe impact on farmers.

The Prime Minister spoke with the ministry about the possibility of reducing eggs by a minimum of 20 satang each. Pork, he said, should also be cheaper as the raw material costs for producing pork can be slashed without affecting the farmers.
More and more suppliers of pork and eggs have been entering the market, making it likely that prices are going drop as the year rolls on.
As of the 18th of May, The International Trade Department reported the price of eggs at approximately 2.90 baht each in varying sizes and roughly 3.30-3.40 for an individual size three egg. However, the ministry’s price recommendations were 2.90 baht an egg, and 135 baht per kilogramme of red pork meat.
Earlier this year, many businesses were allegedly in talks with the ministry to increase the market value for up to eleven products, including batteries, soybean oil, tyres, electrical wire, palm oil, soap, fertilizer, monosodium glutamate, steel and fresh milk.
To date, only four of the eleven products were given permission by the ministry to boost their prices – soybean oil, fertilizer, fresh milk and palm oil.
Price adjustments are likely to be made to five more products due to higher costs of raw materials. The ministry reported these to include an increase of 37-90% in raw material costs for steel products, 15-27% for batteries and 51-70% for electrical wire. The most dramatic increase was for the price of raw rubber for tyres, which went up by 169%, leaving a 42% increase for tapioca.
By : Kyle Pala