July 28, 2011

Thailand's government board has stopped announcing recommended pork prices due to price volatility and supply shortages.

The Department of Internal Trade (DIT) under the Ministry of Commerce is currently monitoring nationwide pork prices closely while pork prices in some areas are unusually high due to reduced pork supplies, said DIT Director-General Vatchari Vimooktayon.

Pig farmers so far have been experiencing problems as pigs grow slower following adverse weather conditions and epidemics. Besides, the operating costs are climbing up. Pork supplies hence are falling dramatically.

The DIT so far has been asking for cooperation from entrepreneurs to pin pork prices while enforcing export ban and restricting the transfers of pigs to neighbouring countries where pork is more expensive than in Thailand.

As the measures still cannot increase pork supplies, the DIT will postpone announcing recommended pork prices indefinitely, said Vimooktayon, but adding that the DIT is still monitoring pork prices closely.

At present live pigs are priced at THB78-79 (US$2.63-2.67)/kg while pork prices are at THB140-150 (US$4.72-5.06)/kg.