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Thailand: Economic gains ease cost pressure on producers
The Commerce Ministry insists pressure on domestic manufacturers to raise product prices has declined as sales improve, the government issues stimulus measures, discount campaigns are organised nationwide by the ministry to reduce the cost of living, and a surge of foreign tourist arrivals drives economic activities.
Internal Trade Department director-general Wattanasak Sur-iam said yesterday many consumer products are likely to lower their prices, including palm oil, pork, chicken and eggs.
Mr Wattanasak said the department remains committed to organising discount schemes and selling low-priced products to consumers at department stores and at key festivals when appropriate.
“The country’s reopening resulted in a flood of foreign tourists, leading to domestic manufacturers and traders recording higher sales by about 10-15%,” he said.
“The higher sales has reduced pressure for them to raise their product prices.”
In a related development, Mr Wattanasak said following a discussion with seven manufacturers and distributors of baby and adult diapers yesterday, they agreed to maintain their product prices.
The seven companies comprise: DSC International (Thailand), Unicharm (Thailand), Modern Soft Products, Kao Industrial (Thailand), Procter & Gamble Trading (Thailand), Kimberly-Clark Thailand, and Fuburg Industrial (Thailand).
Media reported recently these firms planned to raise the prices of their products starting in March, in line with rising production costs.
“Manufacturers and distributors of baby and adult diapers are willing to cooperate with the department’s request to cap their prices to help alleviate people’s cost of living,” he said.
“They already notified department stores and convenience stores that they are maintaining prices.
“All seven producers also agreed to cooperate with the department by offering baby and adult diapers at special prices at the ministry’s discount grand sales campaigns nationwide.”
The campaigns are currently being organised in many provinces, focusing on communities.
The grand sales campaigns are scheduled to continue until next month, said the department.
Source: https://www.bangkokpost.com/business/2508444/economic-gains-ease-cost-pressure-on-producers