Strong Baht and imported product retail prices

[ukrules]

The Baht has been rising in strength for some time now.

 

This is not so good for exports but purchasers of imported goods are now able to buy them for some 40% less then some time ago.

 

Have we seen large retail price reductions of the same imported products which have been imported and sold throughout Thailand for many years?

 

NO! - Everything appears to be the same.

 

I'm talking about food items, etc which are imported from Europe and other countries all the time. Things like cheeses, premium meat products. They're still the same price in the stores but we know for sure that they are being purchased for much less due to currency movements.

 

This means that the profit margins for these companies (the largest of the large national food markets) are gauging massive increased profits and it's all due to the strength of the baht.

 

Why is that?

 

I know one thing for sure, if the Baht was losing value the prices of imported would rocket at the next restocking with a great deal of urgency.

 

We're being ripped off by profiteering retailers, especially the large ones.

Edited July 11, 2019 by ukrules

[Naam]

3 minutes ago, ukrules said:

Why is that?

because it's Thailand but that happens in other countries too.

[Puchaiyank]

If you were the owner of a food store instead of a customer, you would understand the price gouging...????

[BritManToo]

1 hour ago, ukrules said:

We're being ripped off by profiteering retailers, especially the large ones.

The rich exploit the poor, this is the way of the world.

[Pib]

Durn!!!!...Naam beat me to the answer which is: Because TIT

 

[from the home of CC]

expats gouging expats, a national sport in Thailand..

[HeyHeyHey]

Thailand is failed state, so price gouging is not just legal but encouraged.

 

New competitors are facing heavy red tape to enter the market.

 

As I said in other thread "They were sitting at a meeting and were like "dude, we import all the shit for 20% - 40% cheaper than 5 years ago due to the THB up so much. Guess what - nobody in the country lowers any prices lol. So we don't have to lower it as well. Let's go all in!"

 

Edited July 12, 2019 by HeyHeyHey

[ukrules]

7 hours ago, from the home of CC said:

expats gouging expats, a national sport in Thailand..

I'm talking about stores like Gourmet Market and Villa, they sell a lot of imported products on a continuous basis.

 

[from the home of CC]

44 minutes ago, ukrules said:

I'm talking about stores like Gourmet Market and Villa, they sell a lot of imported products on a continuous basis.

 

Villa is foreign owned as far as I can research and are quite the gougers imo, I've seen goods marked up 500 - 1000%. I'd pay for my owned shipped goods prior to making them richer.

[ratcatcher]

28 minutes ago, from the home of CC said:

Villa is foreign owned as far as I can research and are quite the gougers imo, I've seen goods marked up 500 - 1000%. I'd pay for my owned shipped goods prior to making them richer.

Thai family owned and operated since about 1973.

https://shoponline.villamarket.com/about

Marmite from Australia??? I doubt that, however Vege mite be. 

I do agree with your comments about their astronomical prices.

Edited July 12, 2019 by ratcatcher

[wilailuk]

Yep, been thinking the same, not that I buy many imported things, simply too expensive, but I do like the New Zealand Edam cheese in BigC. Price was stable at 189 B for a long time, and then jumped up to 209 B, some months ago.

 

So they profit big time, TIT..

[from the home of CC]

50 minutes ago, ratcatcher said:

Thai family owned and operated since about 1973.

https://shoponline.villamarket.com/about

Marmite from Australia??? I doubt that, however Vege mite be. 

I do agree with your comments about their astronomical prices.

You are correct, i apologize for the misinformation.