September 27, 2024

Thailand's Commerce Ministry to address rising pork prices

The Ministry of Commerce in Thailand has initiated efforts to address the rising cost of pork, which has been found to be higher than in other countries, according to ministry spokesperson Wittayakorn Maneenetr, The Nation reported.

Wittayakorn announced that Thailand's Department of Internal Trade (DIT) has been tasked with collaborating with relevant agencies to seek solutions that will ensure fairness for both producers and consumers.

He also clarified that there are no current plans to import pork to alleviate the price issue. Instead, the ministry will focus on addressing the matter domestically to ease the financial burden on Thai consumers.

The DIT, along with other agencies, is investigating the costs involved in swine farming, including the price of piglets, animal feed, and livestock management practices. The aim is to find ways to reduce production costs, enabling livestock raisers, slaughterhouses, and processing plants to be more competitive.

Relevant agencies have been instructed to develop guidelines for reducing pork production costs and to present these recommendations to Commerce Minister Pichai Naripthaphan promptly.

As of now, the price of live pigs stands at approximately THB 72.30 (US$2.23) per kg, while the nationwide price of pork is THB 133.94 (US$4.13) per kg.

-      The Nation