Food prices in Thailand expected to fall in 2014

[webfact]

FOOD
Food prices expected to fall in 2014
Petchanet Pratruangkrai
The Nation

BANGKOK: -- Most consumer goods and foods will be cheaper next year following a drop in the prices of crops and raw materials in the world market, according to the Internal Trade Department.

Director-general Somchart Soithong said last week that although the government's freeze on prices of commodities would end this year, it was not a great concern, as prices of raw materials have continued to decline till now.

According to the department's survey, prices of ingredients such as palm oil, fruits and vegetables, and meat have fallen because supply is plentiful, he said.

The prices of steel, tin plate, chromium, copper and petrochemicals have also eased in the global market, so many products made from those materials should see lower prices in the near future.

A shampoo producer will lower its retail price soon, while a soybean sauce producer

has asked for a price increase. However, the department has asked for the company's cooperation to hold off for a while.

The department is studying the cost structure for soy sauce to decide whether to allow a price hike next year.

Also, to ensure that price changes will be based on fair practice, the department is rechecking and studying the cost structure for 205 foods and consumer goods.

With many factors changing, the department needs to update its information on the costs of raw materials and manufacturing so that it could calculate fair and reasonable profits for producers.

Currently 205 goods including foods, essential products, electric appliances and farm equipment are under scrutiny.

Some of the 43 products on the price control list might be changed, as some products have become necessities for daily living.

To curb the cost of living, the department also plans to increase the number of street food vendors from the current 6,000 that are cooperating with the Commerce Ministry's Blue flag project to sell cheap dishes for consumers, he added.


-- The Nation 2013-11-04

[kotsak]

I will believe it when I see it

[noikrit]

I will believe it when I see it

DITO !!!!!!! They must have amazing crystal Balls to come up with this stuff .....

[waza]

BANGKOK: -- Most consumer goods and foods will be cheaper next year following a drop in the prices of crops and raw materials in the world market, according to the Internal Trade Department.

Wow that means even more losses on the rice scam. Isnt is ironic that Director-general Somchart Soithong of the Internal Trade Department is trying to keep cost to a minimum while Deputy Prime Minister Kittiratt Na-Ranong and Minister of Finance use government subsidies to inflate the prices. Seem one hand of the government is working against the other.

"Consumers will ultimately foot the bill for the government's ricepledging scheme, paying at least 50 satang more per rice dish to cover subsidies amounting to several billion baht.

After a meeting of the National Rice Policy Committee yesterday, Deputy Prime Minister and Commerce Minister Kittiratt NaRanong said Thais would have to pay more for rice dishes to shore up prices for farmers. "It's not that we aren't worried about consumers, but highpurchasing groups should spend more money," Kittiratt said" http://www.nationmultimedia.com/2011/09/10/national/Kittiratt-urges-consumers-to-reach-into-pockets-fo-30164955.html

"Thailand’s decision to expand subsidies for rice and rubber farmers to quell protests is undermining efforts to control rising debt, even as governments in neighboring Malaysia and Indonesia cut back support programs. The government will pay 21.2 billion baht ($681 million) directly to rubber farmers’ bank accounts to offset falling prices, up from 10 billion baht agreed on earlier"

Edited November 3, 2013 by waza

[Thai at Heart]

On the basis that the vast majority of foodstuffs consumed in Thailand are produced in Thailand, what the hell does global supply have to do with that price?

If bananas or chicken in Thailand get very expensive, you going to import them? Where do they get these idiots?

[Robby nz]

October inflation rises 1.46%

BANGKOK, 2 November 2013 (NNT) – The country’s inflation rate rose 1.46 percent in October, while it increased 2.27 percent in the first 10 months.

The Commerce Ministry has revealed that the inflation rate in October rose as high as 1.46 percent due to the higher prices of food, especially rice, flour products, meat, eggs, milk, fruit, and vegetables.

The country’s inflation in the first 10 months, according to the Ministry of Commerce, increased at the percentage of 2.27, thanks to the increasing prices of food and beverages.

The ministry further forecast that Thailand’s inflation at the end of 2013 will be in a range of 2.1-2.6 percent, adding that the number is not too low and is in line with the country’s economy.

Especially rice, flour products, meat, eggs, milk, fruit and vegetables. All locally produced.

Why would the price of rice be up when the world price continues to drop and there is millions of tons in storage?

What makes the minister think this will not continue, price of fuel is up and rising, price of cooking gas is up and rising, talk of a VAT increase.

Possibly overoptimistic could be an understatement.

[tartempion]

Yep, like Belgian fries.

When potato prices go up due to bad harvest, the price of a packet of Belgian fries goes up, when the harvest is good price never comes down.

I do see on my weekly purchases food prices go up and up and up here in Thailand....

[otherstuff1957]

2.6% inflation? I'm reminded of that quote from Mark Twain: "There's lies, there's damn lies and then there's statistics!"

[meatboy]

the answer to how can we make food prices fall in 2014?

answer increase the no.of street food vendors.

thats one for university challenge.

[worgeordie]

But not rice, over the years the prices for utilities have risen

at not too bad a rate,BUT the price of food stuffs has increased

dramatically, they go up and NEVER come down.

regards Worgeordie

[jackr]

What a load of b****x! All sounds dandy 'n that, but that everything is up here is not entirely down to the rest of the world. It is, was, inevitable and has been stage-managed!

[JoeThePoster]

A shampoo producer will lower its retail price soon

Yeah, but what about conditioner?

[stoli]

Some of the 43 products on the price control list might be changed, as some products have become necessities for daily living.

Does this include alcohol?

[stoli]

the answer to how can we make food prices fall in 2014?

answer increase the no.of street food vendors.

thats one for university challenge.

Increase the number of street vendors? To what? From 4 million to 5 million?

[Cuban]

...and the effect of 300 Baht daily wage and fuel inflation, shareholder PE?

[Sayonarax]

Life would be cheaper if our previous generation didn't make us rely on others to provide for us.

The Rothschild thank you for your stupidity.

[h90]

I will believe it when I see it

It is like the economic grow forecast for next year in Europe.

It is always excellent....next year everything gets better. Politicians count that the normal voter can't remember things longer than 1 month and as it seems they are right.

[h90]

the answer to how can we make food prices fall in 2014?

answer increase the no.of street food vendors.

thats one for university challenge.

Instead of some street vendor making about 300 baht a day profit, double the vendors so his profits drop to 150 baht per day.. Then what happens, the street vendor raises his prices to make up for the loss in revenue. And these guys are supposed to be some kind of experts? Wow. What a bunch of idiots.

no that isn't how it works. Due to the competition the prices drop. Vendors try to save on the quality and size, which only works partially. Some won't make profit anymore and drop out of the job, till you have the same amount of street vendors as before.

So I complete agree with your last sentence, only I believe that it will work different.....

[meatboy]

the answer to how can we make food prices fall in 2014?

answer increase the no.of street food vendors.

thats one for university challenge.

Increase the number of street vendors? To what? From 4 million to 5 million?

he said 6,000 to hmmmmmmmmmmmm.

is this the same bloke who couldnt answer how many eggs in an empty basket.

[ginjag]

Did the man say that meat prices had fallen ??? try buying PORK you will find it has risen. 130/40 per kilo. AND IT IS RUBBISH -old sow-

I speak from experience as a butcher for 12 years we sold young pork to customers-tender-and very pale pink meat- the size of a side of pork was easily carried -and to cut was also easy. You see the pork was refrigerated and cut clean into different cuts for sale. HERE this old SOW is a mangled red coloured meat, and looks like it has been run over, because it is old is is not tender, All old pork was to be only used in manufacturing-sausages, pork pies, and in a very old pig used for a.n. other.

Chicken is reasonable to buy at most outlets.

Talking out of his posterior this guy is not a clairvoyant, he knows does he that prices will Fall??? B##L S.

[Baerboxer]

The PM/DM previously told everyone that prices were not rising - "just your imagination". Of course, as a professional shopper she knows how to get value for money,

Then the government froze prices to stop any increases, that were only imaginary anyway.

Now they will tell everyone next year, all will be lower. Everything will be good.

Vote PTP for democracy, transparency and sound economic policies - you know you've never had it so good!

How long can they continue simply telling lies and lies and contradicting reality? No doubt, when the boss is back, more censorship and propaganda will be the order of the day. Give him 6 months and everyone will be rich.

[i claudius]

Did i hear him say that pigs would fly as well?

[kutjebu]

The cost of living is a lot cheaper in Thailand then in the west.That's the reason that so many farangs stay here and complain and complain.

[55Jay]

Eh, probably just one of a few diversionary tactics to come.

Flash some shiny coins in the right hand, or at least the promise of some shiny coins, while the left hand does the amnesty bill business.

Keeps the peasants hopeful and distracted.

[ginjag]

The cost of living is a lot cheaper in Thailand then in the west.That's the reason that so many farangs stay here and complain and complain.

WE complain FOR the Thai people, as they think they are not allowed to do it.

Get real, been here 32 years and you think I am only here for that reason, THINK wine -cheese---lamb--decent beef--perfumes--dog biscuits--cat litter- car price-motor bike prices--second hand prices--Visa--Scams--prices of air travel to Europe.

Get off the idea we are all selfish, we have partners-families-business- If I have to go around every day and worry about the difference in cost from HOME to Thailand-- Posters are answering the clown who predicts that next year prices will fall.....only a non qualified/ out of depth minister would come out with a statement like that---sounds like again he hasn't enough work to attend to and fills his time at work with idiotic remarks.

[Thai at Heart]

October inflation rises 1.46%

BANGKOK, 2 November 2013 (NNT) The countrys inflation rate rose 1.46 percent in October, while it increased 2.27 percent in the first 10 months.

The Commerce Ministry has revealed that the inflation rate in October rose as high as 1.46 percent due to the higher prices of food, especially rice, flour products, meat, eggs, milk, fruit, and vegetables.

The countrys inflation in the first 10 months, according to the Ministry of Commerce, increased at the percentage of 2.27, thanks to the increasing prices of food and beverages.

The ministry further forecast that Thailands inflation at the end of 2013 will be in a range of 2.1-2.6 percent, adding that the number is not too low and is in line with the countrys economy.

Especially rice, flour products, meat, eggs, milk, fruit and vegetables. All locally produced.

Why would the price of rice be up when the world price continues to drop and there is millions of tons in storage?

What makes the minister think this will not continue, price of fuel is up and rising, price of cooking gas is up and rising, talk of a VAT increase.

Possibly overoptimistic could be an understatement.

Because no one imports them because there is a duty and transport. So as I wrote, what has the domestic price got to do with the global price in this context?

Very very little. The domestic suppliers gouge the public as far as they can because there isn't enough competition.

[bangkokstick]

Who ever expect that any price in this world would be cheaper next year ??? STUPID !!!

[rubl]

Good news indeed.

Now the government doesn't need to spent time deliberating a possible upward change of the 300 Baht minimum wage

[Benmart]

A shampoo producer will lower its retail price soon

Yeah, but what about conditioner?

I'm relieved that the price of shampoo will go down and perhaps conditioner? Small consolation to poorer Thais who may end up going to bed hungry. At least they will sleep with clean hair and no split ends.

[Asiantravel]

Amazing Thailand

where real estate values only ever go up and where food prices go down (even though in other countries they are increasing )

India

Over the past year inflation has been driven up by food prices. In September alone food prices were at their highest level for the past seven months and it seems that India is now going through the worst financial crisis that it has ever experienced since 1991. Food prices have increased by an annual rate of 18.4% so far according to data released by the Indian government on Monday this week.

China

India is not the only one suffering from high inflation today in the world. Other emerging countries have also recently seen highs in their own rates. China had a consumer-inflation rate that hit 3.1% in September. That was also the highest it had been for the past seven months. Food prices in China have increased by 6.1% so far this year. However, in comparison with Indian data, that seems as if it is insignificant.

http://www.tothetick.com/indian-inflation-out-of-control