Commerce Ministry wants to ensure fair prices of produce during drought

BANGKOK, 2 May 2016 (NNT) - The Commerce Ministry has given an assurance that the prices of all farm products will be controlled while the country continues to suffer from the effects of the drought crisis.

However, Vice Minister for Commerce, Winichai Chaemchaeng said that the prices of many local goods have already nearly doubled because of the drought.

Mr. Winichai’s remark was heard after his inspection tour of the market in the Wongwian Yai area in Bangkok.

On his tour, Mr. Winichai found string beans are now 130 baht a kilogram, compared with the regular price of 50 baht per kilogram, while winged beans have surged in price to 300-350 baht a kilo from 60 baht a kilo.

He said that most vendors have complained about higher costs and he has advised them that the ministry will try to make sure all prices are fair until the rainy season arrives and prices return to normal.

-- NNT 2016-05-02

.......wants to ensure fair prices .......

.......will try to make sure all prices.......

No explanation as to how this will be done (and fail.)

.......prices of many local goods have already nearly doubled because of the drought....

Clearly, local goods do not include 'farm products' judging from the figures which follow this statement

Why do they always 'advise' and never 'inform'?

If prices rise because of a shortage of farm product inventory due to the prolong drought, then that price increase is market price.

To artificially hold back price increases is to distort market prices.

The very thing Prayut criticized the Yingluck regime of doing with its rice pledge program.

And the very same thing Prayut did with his rubber buffer stock and government purchase point programs.

Control of a nation's economy is complex enough without instituting convoluted and contradictory economic policies as the Prayut regimes seems to favor. That reflects a lack of vision for the nation.

Once again tampering with supply and demand.

Fair prices for the final customer probably means the poor old farmer suffers.