Commerce Ministry Closely Monitoring Commodity Prices

[snoop1130]

 

BANGKOK (NNT) - The Ministry of Commerce has assured that it is closely monitoring commodity prices amid the ongoing war between Russia and Ukraine.

 

Commerce Minister Jurin Laksanavisit said most prices of essential items, such as meat, eggs and other perishable goods, remain stable. However, several producers have requested price hikes, including manufacturers of canned food.

 

The Black Sea conflict has so far pushed prices of steel and related items up 40-45%, along with prices of wheat and maize, affecting the animal feed sector.

 

Jurin, who is also deputy prime minister, has so far assigned officials to hold discussions with the Ministry of Agriculture and Cooperatives on assistance measures for the animal husbandry sector.

 

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Minister Jurin also stressed that the government will carefully take into consideration all petitions to raise the prices of goods affected by the war in Ukraine. These include fertilizers, animal food, canned products and construction materials. However, he reiterated that not all items will be granted permission to raise prices.

 

Boonyarit Kalayanamit, permanent secretary for the Ministry of Commerce urged people to understand that the armed conflicts cause ripple effects to various sectors. He also underlined that it is normal for rising costs to force manufacturers to increase prices.

 

The permanent secretary added that if the government does not allow business operators to raise prices, they may resort to ceasing production altogether.

 

-- © Copyright NNT 2022-03-15

 

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[hotchilli]

14 hours ago, snoop1130 said:

The Ministry of Commerce has assured that it is closely monitoring commodity prices amid the ongoing war between Russia and Ukraine.

Monitoring them going up... most daily necessities I buy have seen an increase.