Goods prices in Thailand to be frozen through November

[webfact]

Goods prices to be frozen through November
By Digital Content



BANGKOK, June 16 -- Goods manufacturers and retail traders have agreed to maintain prices of 205 essential goods for another six months until the end of November, aimed at lessening people’s hardships and in line with the policy of the National Council for Peace and Order (NCPO), said Srirat Rastapana, permanent secretary for commerce.

Ms Srirat said the agreement was made during a meeting of senior Commerce Ministry officials and major goods producers and shopping mall owners.

The Ministry's Internal Trade Department officials had surveyed consumer goods prices at many shops and malls in Bangkok and upcountry and found that products prices remained unchanged, she said.

Prices of essential commodities would be frozen within a short-term period and their prices would have to be adjusted in line with market mechanism because some products need imported raw materials for the production, said Ms Srirat.

If prices of imported raw materials increase, goods producers will also have to raise the the prices of finished products. (MCOT online news)


-- TNA 2014-06-16

[EricBerg]

Then inflation will be a raise for the Thai people. Nice extra.

[JesseFrank]

Sure the prices will be frozen.

Last week several items had a significant price increase at Big C.

Just to name a few, portion steamed white rice went from 10 to 12 Baht, and portion slightly decreased in size as well. In my book that's 20%

Pack of 4 medium sized bananas went from 29 to 32 Baht, that's 10%

[TallGuyJohninBKK]

I have no idea what this article is trying to report, especially regarding the issue of what happens when imported raw materials costs raise the price for Thai items on their lists.

And are they talking about food products, or manufactured stuff, or both?

But more to the point, what difference does freezing prices now make after different things have gone up 20 or 30% over the past year?

Most of the time, these kinds of announcements by the government (past or present) usually seem to be some combination of a sham and/or a scam.

My example: I like the cans of the coffee or wasabi flavored peanuts made by KohKae. Normally, and for a long time, those cans sold for about 43 - 44 baht per. But in the past couple months, the price went overnight to 49 baht, and then again up to 55 baht at most of the major grocery stores. That a price hike of 25% on a domestic product in just the space of a couple months. And that's NOT peanuts!!!

Edited June 16, 2014 by TallGuyJohninBKK

[Bkungbank]

Of course they would be glad because pork prces from 110-120 jump to 155-165 per kg, reason given was hot climate ,if maintain the price we turn to eat chicken which are cheaper.

[NeverSure]

When they freeze prices against real inflation, prices explode when they take the freeze off. It actually gets worse because seller are afraid of another freeze and hurry to raise prices.

[ginjag]

Sure the prices will be frozen.

Last week several items had a significant price increase at Big C.

Just to name a few, portion steamed white rice went from 10 to 12 Baht, and portion slightly decreased in size as well. In my book that's 20%

Pack of 4 medium sized bananas went from 29 to 32 Baht, that's 10%

Outspan type oranges 70 baht up to 90 baht kilo---pork up from 135 -160 per kilo-------Tesco and Big C. The only price to remain same are chicken legs.

Boxes of beer I notice have increased in price Leo-Chang-Archa.

So it looks like these recent increases will be frozen.

[ginjag]

Of course they would be glad because pork prces from 110-120 jump to 155-165 per kg, reason given was hot climate ,if maintain the price we turn to eat chicken which are cheaper.

Political reply, over the last 3 years pork has increased from 70 bht per kilo to 165 per kilo. Suppose the warm climate has something to do with it ???

[i claudius]

My wife complains every time we shop about rising prices ,even i am begining to notice it ,while it does not really impact us ,it must be a big problem for poorer Thais ,i have even had to increase our sons monthly allowance for his living expenses at uni in BKK ,

[chainarong]

This freezing of products and fuel is not good, except for the feel good factor, once the freeze is lifted,up go's the prices to normal rate , you could have a price rises of 40%, then the winging will start.

[stickyrice2000]

They had the inflation under control. The consumers should not notice the price change. It's a just figment of your imagination that you see the higher prices. Bad consumers! LOL

[NeverSure]

I have no idea what this article is trying to report, especially regarding the issue of what happens when imported raw materials costs raise the price for Thai items on their lists.

And are they talking about food products, or manufactured stuff, or both?

But more to the point, what difference does freezing prices now make after different things have gone up 20 or 30% over the past year?

Most of the time, these kinds of announcements by the government (past or present) usually seem to be some combination of a sham and/or a scam.

My example: I like the cans of the coffee or wasabi flavored peanuts made by KohKae. Normally, and for a long time, those cans sold for about 43 - 44 baht per. But in the past couple months, the price went overnight to 49 baht, and then again up to 55 baht at most of the major grocery stores. That a price hike of 25% on a domestic product in just the space of a couple months. And that's NOT peanuts!!!

There is a world-wide coffee shortage. There is persistent drought and a fungus I think is called coffee rust in Central America. Coffee prices rose almost 4% just last month, I read. LINK to one article.

I drink more than my share, LOL.

[NeverSure]

Well, certainly none of us predicted inflation when the new minimum wage went into effect, or that it would hurt the minimum wage people the most. </sarcasm>

Edited June 16, 2014 by NeverSure

[ginjag]

I have no idea what this article is trying to report, especially regarding the issue of what happens when imported raw materials costs raise the price for Thai items on their lists.

And are they talking about food products, or manufactured stuff, or both?

But more to the point, what difference does freezing prices now make after different things have gone up 20 or 30% over the past year?

Most of the time, these kinds of announcements by the government (past or present) usually seem to be some combination of a sham and/or a scam.

My example: I like the cans of the coffee or wasabi flavored peanuts made by KohKae. Normally, and for a long time, those cans sold for about 43 - 44 baht per. But in the past couple months, the price went overnight to 49 baht, and then again up to 55 baht at most of the major grocery stores. That a price hike of 25% on a domestic product in just the space of a couple months. And that's NOT peanuts!!!

There is a world-wide coffee shortage. There is persistent drought and a fungus I think is called coffee rust in Central America. Coffee prices rose almost 4% just last month, I read. LINK to one article.

I drink more than my share, LOL.

Rice prices are sure to rise if FUNGUS is taken into account ?

[useronthenet]

Whilst it's difficult to turn the clock back, inflation will always have a marked effect on the economy.

A well-managed fiscal policy is the key to containing inflation, though I suspect the last government

failed on most accounts to prioritize this issue, and certainly mismanaged the economy.

Borrowing in particular must be regulated, as I have noticed household debt has increased substantially.

The economic bubble will at some point burst, then the banks will be under enormous pressure as in

1997. It's not if, but just a matter of when.

[Thailand]

Hearts and minds!

[UbonRatch]

There is some good news from the light at the end of the tunnel.

In the UK, 'Snickers' bars are only 48g and cost 51p. = 28 Baht.

Tesco Lotus currently sells 'Snickers' ( or Marathon as I like to call them ) for 18 Baht, and they are 51g.

Just thought you'd like to know that.

[ginjag]

Through November means During that month.

I posted what about July-August-Sept-Oct ??

[TallGuyJohninBKK]

I have no idea what this article is trying to report, especially regarding the issue of what happens when imported raw materials costs raise the price for Thai items on their lists.

And are they talking about food products, or manufactured stuff, or both?

But more to the point, what difference does freezing prices now make after different things have gone up 20 or 30% over the past year?

Most of the time, these kinds of announcements by the government (past or present) usually seem to be some combination of a sham and/or a scam.

My example: I like the cans of the coffee or wasabi flavored peanuts made by KohKae. Normally, and for a long time, those cans sold for about 43 - 44 baht per. But in the past couple months, the price went overnight to 49 baht, and then again up to 55 baht at most of the major grocery stores. That a price hike of 25% on a domestic product in just the space of a couple months. And that's NOT peanuts!!!

There is a world-wide coffee shortage. There is persistent drought and a fungus I think is called coffee rust in Central America. Coffee prices rose almost 4% just last month, I read. LINK to one article.

I drink more than my share, LOL.

Re your comment about world coffee issues, I think it's pretty clear that's not the cause of what's going on with KohKae peanuts.

One reason: the company has raised the price equally across the board on all of their flavored peanut products -- coconut cream, wasabi, shrimp, etc -- not just coffee. So it's pretty clear that the coffee issues you mention aren't driving their 25% price increase over the past few months.

Second reason: on the coffee peanuts packages, coffee flavoring is listed as a 1% ingredient, the last item in an ingredients list after a half dozen other larger-quality items including peanuts, wheat flour, vegetable oil, salt, sugar and coconut cream.

[PattayaPhom]

So all these comments whinging...come on economists, give the answer that works........prices have been out of control for well over a year, with tax increases and minimum wage.....a freeze will give immediate help....Answers???

[brfsa2]

It's sick to see that 1KG of oranges are 100THB, but 1 Litter of orange juice is 55 Baht (Malee, Tipco) which is equivalent to almost 1.7KG of oranges.

Meaning 170 Baht of pure oranges is equivalent a 55 Baht litre of processed juice.

I've seen this trend since the past 8-12 years. Can any one explain why?

not only orange, but almost every fruit.

[Dogmatix]

The Yingluck government did a great job in reducing the rice price.

[tullynagardy]

Whilst it's difficult to turn the clock back, inflation will always have a marked effect on the economy.

A well-managed fiscal policy is the key to containing inflation, though I suspect the last government

failed on most accounts to prioritize this issue, and certainly mismanaged the economy.

Borrowing in particular must be regulated, as I have noticed household debt has increased substantially.

The economic bubble will at some point burst, then the banks will be under enormous pressure as in

1997. It's not if, but just a matter of when.

I actually agree with everyone youve said but a footnote to say the junta has done little to suggest it will be any better,Tripling the already unaffordable infrastructure budget and wrecklessly over riding contracts they have to compensate for a "happiness" campaign doesnt bode well.

Ironically its the same kind of populism that brought PTP into disrepute. Unlike PTP they arent trying to win votes, rather they are trying to win hearts and minds, but the same idea applies.

[sprq]

Is this a poorly made announcement or a poorly reported announcement? Or both? To me it is a combination of nonsense and bull.

[thumper101]

There is some good news from the light at the end of the tunnel.

In the UK, 'Snickers' bars are only 48g and cost 51p. = 28 Baht.

Tesco Lotus currently sells 'Snickers' ( or Marathon as I like to call them ) for 18 Baht, and they are 51g.

Just thought you'd like to know that.

But in the UK they are quite smart shppers (I like to call them 'techno-shoopers')

Most people will buy a bag of 6 snickers at a Tesco supermarket for like £1.49 making the 25p each.

But here in Thailand Tesco will likely sell a six pack for more than six times the price of a single bar..... and that is all over Thailand pricing. It seems the more you buy, the more they cost.

If that happened on a product in the UK, it would lierally make the newspapers.

Crazy Thailand.

Correction.

Tesco UK

Single Snickers... 48g = 60p http://www.tesco.com/groceries/Product/Details/?id=281025126

Sickers 7 pack.... 7 x 48g = £2 (28.4 each.... less than half price) http://www.tesco.com/groceries/Product/Details/?id=281026632

Edited June 16, 2014 by thumper101

[pantareiyingluck]

There is some good news from the light at the end of the tunnel.

In the UK, 'Snickers' bars are only 48g and cost 51p. = 28 Baht.

Tesco Lotus currently sells 'Snickers' ( or Marathon as I like to call them ) for 18 Baht, and they are 51g.

Just thought you'd like to know that.

Yeah, yeah, but here they melt in away just like that. So keep them cool / freezed them and subsequently break your teeth. I prefer to eat Snickers in the UK.

[Emster23]

Would someone, anyone, please enroll these folks in some online Econ 101 course???? Classic theory would say with frozen prices, fewer would want to sell those goods, so that when lid came off, price would go up more than if lid wasn't there in the first place.... less supply, same demand= higher price. Am I wrong here?

[webfact]

Prices of 205 essential goods to be frozen temporary



BANGKOK: -- Consumers product companies and retail traders have agreed to maintain prices of 205 essential goods for another six months until the end of November.

Ms Srirat Rastapana, permanent secretary for the Commerce Ministry, said the price freezing is aimed to ease the financial burden of the people and to correspond with the policy of the National Council for Peace and Order (NCPO) to return happiness to the Thai people.

She said the ministry reached price freezing agreement during last week’s meeting between senior commerce officials and major consumers product companies and shopping mall owners.

The Ministry’s Internal Trade Department officials had surveyed consumer goods prices at many shops and malls in Bangkok and upcountry and found that products prices remained unchanged, she said.

Prices of essential commodities would be frozen within a short-term period and their prices would have to be adjusted in line with market mechanism because some products need imported raw materials for the production, said Ms Srirat.

If prices of imported raw materials increase, consumers product companies will also have to raise the the prices of finished products.

Source: http://englishnews.thaipbs.or.th/prices-205-essential-goods-frozen-temporary/


-- Thai PBS 2014-06-16

[pistachios]

Frozen prices as most of the illegal workers who were keeping those prices low are fleeing the country. That seems like a sound economic decision.

[wwest5829]

Of course they would be glad because pork prces from 110-120 jump to 155-165 per kg, reason given was hot climate ,if maintain the price we turn to eat chicken which are cheaper.

Political reply, over the last 3 years pork has increased from 70 bht per kilo to 165 per kilo. Suppose the warm climate has something to do with it ???

Global warming?! Ha!