August 29, 2013

Thailand feed association calls for free market to deal with rising costs

The Thai Feed Mill Association is calling for a return to free market in order for livestock and shrimp producers to cope with rising costs which shaved profits. 

Local feedmeal producers have expressed to Commerce Ministry officials on August 23, that current price freezes does not benefit parties involved.

Boontham Aramsiriwat, deputy secretary-general of the Thai Feed Mill Association, said that the industry expected slow growth this year due to lower production of livestock, mainly shrimp and chicken. He added that shares of feed meal firms listed on the Stock Exchange of Thailand were showing poor performance due to the government's policy of freezing product prices despite higher costs of raw materials.

This resulted in lower-than-expected profits, he explained.