August 12, 2011

Thailand to resolve rising pork price

Thailand's Prime Minister Yingluck Shinawatra has instructed the Commerce Ministry to attend to the issue of rising pork price as soon as possible, according to the Deputy Prime Minister and Commerce Minister Kittirat Na Ranong on Thursday (Aug 11).

"To solve different economic problems, the ministers in charge of economic affairs are already meeting regularly with permanent secretaries in their respective ministries.

"As for the Commerce Ministry, the prime minister wants it to curb the increasing price of pork," Kittirat said. The current economic crisis in the US would not affect the Thai economy much, as the country is supported by strong economic fundamentals, said the former president of the Stock Exchange of Thailand.

Pig raisers said porcine reproductive and respiratory syndrome (PRRSV), also known as blue-ear pig disease, had cut output, resulting in a rise in retail pork prices to about THB160/kg (US$5.33) from an average of THB90-100 (US$3-3.33) last year.