Thai Government Drops Pork Price Control25 October 2012
THAILAND - The Commerce Ministry plans to suspend its recommended-price measure for pork after pig farmers were hurt by the severe drop in the price of pork.
According to The Nation of Thailand, Viboonlasana Ruamraksa, director-general of the Internal Trade Department, has said that the cancellation of the recommended prices would help push up pork prices. Farmers should not have to suffer from the dropping price after market demand softened but supply bulged.
The recommended pig price for the week beginning 14 October was THB48 to THB54 per kilogram, while the retail pork price is set at THB98 to THB106.
Pig farmers are considering cutting back on production to promote the pig price up to THB55 to THB60 a kilo, which would result in the retail price of pork heading up to THB120 to THB130 a kilo, concludes the report in The Nation.
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