October 19, 2010

Thai farmers protest low meat prices on baht surge

Thailand's farmers have complained that export buyers of chicken and shrimp use the baht's appreciation as an excuse to bargain for lower prices.

The director general of Internal Trade Department, Watcharee Wimuktayon, will meet with exporters of chicken, shrimps and instant food to discuss the impact of baht's appreciation.

She will ask the exporters to defend themselves regarding the claim that they use the baht's appreciation as an excuse to bargain for lower prices when buying from farmers.

The department plans to meet with exporters of other agricultural products at a later date to discuss problems they face during the baht's surge.

Watcharee said that the Commerce Ministry will request a budget worth THB500 million (US$16.74 million) before the Cabinet next week to help exporters who have been affected by the baht's appreciation.

About THB200-300 million (US$6.7-10.04 million) of the total budget will be used to help SME exporters who are unable to export their products and distribute them in the domestic market instead. The rest of the budget will be used to organise fairs selling discounted goods to help keep the cost of living low.

Watcharee led a team of inspectors in a survey on the price of vegetarian food and ingredients used in vegetarian food at Ying Charoen market. Prices of most products being sold at the market is said to be lower than those at other markets.