Bangkok: The Commerce Ministry has affirmed its commitment to ongoing monitoring of goods and services, including conducting daily on-site inspections to prevent price gouging and hoarding amidst the ongoing conflict in the Middle East. The ministry has confirmed that fertilizer stocks are sufficient until May and is preparing a "green flag" measure to control fertilizer prices for farmers should prices increase. The ministry has also called for public cooperation in consuming goods in appropriate quantities.
According to Thai News Agency, Ms. Kanittha Kangsuwanich, Inspector General of the Ministry of Commerce and Deputy Spokesperson, briefed the Center for Monitoring and Managing the Conflict in the Middle East (CMA) on measures to control commodity prices and the cost of living. She indicated that the Ministry is aware of the impact of rising energy prices on agricultural and industrial costs globally. Consequently, the Ministry has developed strategies to manage the price and supply of goods and the supply chain, ensuring a fair distribution of essential consumer goods for both buyers and producers. The Ministry's provincial commerce offices in all 76 provinces are conducting daily price checks to prevent irregularities such as price gouging or hoarding.
In terms of fuel price regulation, Ms. Kanittha explained that the Ministry is collaborating with provincial governors and the Ministry of Energy under the Provincial Committee on Prices of Goods and Services (PCPG). Should there be instances of unjustified price increases, hoarding, or refusal to sell, the law will be strictly enforced in accordance with the Price Control Act B.E. 2542 (1999), which stipulates penalties including imprisonment and significant fines.
Ms. Kanittha also highlighted support initiatives for farmers, emphasizing that sufficient fertilizer stocks are available until May for effective price control. The Ministry is awaiting additional shipments from the Middle East and is actively seeking alternative raw material sources. Furthermore, the Ministry aims to encourage farmers to modify fertilizer formulas to decrease dependency on imports and promote the use of microorganisms.
She also announced that if price adjustments occur due to raw material cost changes, the Ministry will extend the "Green Flag" fertilizer program to support farmers during high-demand periods from May to August, crucial for rice and cassava planting seasons.
Lastly, Ms. Kanittha reassured the public of an adequate supply of consumer goods nationwide but urged consumers to use products sparingly to ensure equitable distribution. Any incidents of businesses selling goods at prices not aligned with marked or fair prices can be reported to the Department of Internal Trade hotline or provincial commerce offices for investigation and legal action.