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Thai Retail Pork Prices Cut by 18%
THAILAND - Pork producers and retailers in Thailand are cutting retail prices by 18 per cent to 98 baht per kilogramme from 120 baht for two months.The move follows extensive lobbying by the commerce Minister Mingkwan Sangsuwan, according to reports in the Bankok Post.
More price cuts are expected on Monday following a meeting with a group of swine raisers, butchers, retailers, wet-market operators, and executives of big supermarkets including Carrefour, Big C, Makro, and Tesco Lotus.
Mr Mingkwan told the Bankok Post that all parties had to help ease the burden of consumers even if it meant razor-thin profits of one baht per kg or less. However, prices from the farm for producers are expected to remain unchanged at 58 baht per kg.
He said all supermarkets had also confirmed that their pork prices would be cut to 98 baht per kg.
"I would like to insist that the cut is not mandatory. It is the result of an amicable and joint agreement among all parties, who want to help ease the cost of living for consumers," he told the Post.
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