January 11, 2022

Thai prime minister calls for action to fix high pork prices


Increased demand for pork from markets and lowered supply, as well as heightened prices of feed materials such as corn and soybean meal, have been cited as the major causes of expensive pork in Thailand.

High production costs have prompted a number of farmers in country to leave the pork production sector, but authorities said they expect pork prices to normalise within four months.

Thai Prime Minister Gen. Prayut Chan-o-cha ordered the Ministry of Commerce and the Ministry of Agriculture and Cooperatives to quickly mend the problem of expensive pork. For the short term, delay of exports will be implemented while wholesalers and retailers will be asked to keep pork prices from rising. Sellers are also asked to avoid setting excessive prices for pork. The prices are expected to normalise within four months.

Finance Minister Arkhom Termpittayapaisith said the government is addressing the issue of expensive pork by halting pork exports, waiving fees and taxes on pork, promoting the cultivation of feed corn to replace imports and providing special loans via the Bank for Agriculture and Agricultural Cooperatives for the purpose of increasing the robustness of the pork production system.

The Department of Livestock Development will be inviting representatives from relevant associations to provide their input on the matter on January 7. Findings will be submitted to the pork and pork products development committee, which is also known as the Pig Board.

- Pattaya Mail