Somkid has instructed the Commerce Ministry to strictly control product prices to prevent exploitation of the public during the ongoing rise in oil prices. He emphasized the need to closely monitor agricultural product prices to ensure farmers receive fair prices. Sontirat has confirmed the directive to the Internal Trade Department to analyze the impact of rising diesel prices on product costs.

          Deputy Prime Minister Somkid Jatusripitak stated that he has ordered the Ministry of Commerce to closely monitor the situation of product prices and agricultural prices, especially as oil prices continue to rise. There are concerns that this may increase production and transportation costs, leading to higher product prices. For agricultural products, it is essential to ensure that farmers can sell their goods at fair and appropriate prices. He has also ordered a nationwide meeting of provincial commerce offices to ensure close monitoring of product and agricultural prices in all areas.

          “Currently, oil prices are continuously increasing. The Internal Trade Department must work proactively and prepare plans to address product prices in advance. We must prevent any exploitation or illegal price hikes, as this would burden the public. Additionally, provincial commerce offices must hold meetings not only to strictly monitor product prices but also to organize various activities to stimulate spending and the economy, including tourism in each province, as this will help drive the grassroots economy,” Somkid stated.

Minister of Commerce Sontirat Sontijirawong mentioned that he has instructed the Internal Trade Department to quickly analyze the impact of rising fuel prices in the country, which may affect product costs, and to closely monitor the prices of consumer goods to prevent any adverse effects on the public.

          Regarding the management of agricultural product prices, a meeting will be held on October 25, 2018, with relevant agencies under the ministry, including the Internal Trade Department, the Department of Foreign Trade, the Department of International Trade Negotiations, and the Department of International Trade Promotion, to establish a comprehensive plan for agricultural products, including domestic and international marketing strategies and negotiations to resolve related issues with other countries.

          Furthermore, on October 26, 2018, a video conference will be held with provincial commerce offices across the country to expedite efforts to stimulate the grassroots economy for the remainder of the year.

          “I will emphasize the need to accelerate the work of the Ministry of Commerce, as provincial commerce offices are crucial to the ministry's regional efforts, especially in stimulating the grassroots economy, which includes increasing income, reducing expenses, and monitoring product prices to prevent the public from being exploited, as well as ensuring that farmers can sell their products at fair and appropriate prices,” Sontirat added.

          Wichai Phokhajik, Director-General of the Internal Trade Department, stated that the department has analyzed the rising fuel prices and their impact on consumer goods prices. Preliminary findings indicate that if diesel prices rise to no more than 30 baht per liter, it will increase product costs by 0.0002-0.0085%. The least affected product is plastic bags due to their low weight and space requirements for transportation, while the most affected product is cement due to its heavy weight and large space requirements.

          “The increase in transportation costs does not necessarily mean that product prices will also rise. Our analysis shows that the increase in diesel prices has a minimal impact on transportation costs and is not significant enough to warrant an increase in selling prices. The department will closely monitor product prices to prevent traders from taking advantage of the situation. If the public encounters any exploitation, they can report it to the hotline 1569, and the department will send officials to investigate immediately. If violations are found, legal action will be taken, with penalties of up to 7 years in prison or fines of up to 140,000 baht, or both,” Wichai stated.

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