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Hua Hin
Wednesday, April 17, 2024

Government halts plans to raise baby formula prices

The Department of Internal Trade Promotion (DIT) has temporarily halted manufacturers’ intentions to hike prices for infant milk formula and canned fish to compensate rising manufacturing costs, citing government rules.

According to Deputy Government Spokesperson Rachada Dhnadirek, the DIT has notified the producers that both items are “regulated” and must be approved by the department before any price increases can be implemented.

Rachada added that soymilk, which was projected to receive a 1-2 baht per pack hike, is not a regulated product, but the price change must represent the true manufacturing cost. The Internal Trade Department is now investigating the production cost structure of the specific item in order to establish a reasonable price adjustment.

Thailand now has 56 price-controlled items and services, with government regularly monitoring their price changes, particularly those categorized as sensitive, such as pig, fresh chicken meat, and cooking oil.

Rachada stated that if shortages of items such as soap, dishwashing detergent, powdered milk, toilet paper, or ready-made meals are discovered, the department may consider imposing further regulations.

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