Thai Prime Minister Prayut Chan-O’Cha has expressed his concern over an increase in pricing of animal feed and fertilizers in Thailand as a result of a prolonged Russia-Ukraine war.
Government spokesperson Thanakorn Wangboonkongchana revealed today, March 11th, that the Prime Minister showed great concern over the Russia-Ukraine war that had already affected the global trading system, including skyrocketing oil and traded commodities prices.
The price of animal feed and fertilizers, such as wheat and maize, had increased significantly as Russia and Ukraine were prominent producers. Additionally, the fuel price also went up and resulted in the higher price of product transportation, including animal feed and fertilizers which Thailand had to import from abroad, with Russia being a major source.
Prime Minister Prayut had ordered the Ministry of Agriculture and Cooperatives, the Ministry of Commerce, and related agencies to seek the resolution of pricing problems and monitor the prices of animal feed and fertilizer in the market to go in accordance with the real price ratio. He also urged more import of materials for fertilizer and feed production and the implementation of other measures to facilitate and solve problems for local entrepreneurs and farmers.
The chemical fertilizers and animal feed are a controlled product ascribed to the Price of Goods and Services Act. A price adjustment must be proposed and considered by the Ministry of Commerce prior to the change. However, no entrepreneurs have made an official request for a price adjustment yet, according to the Ministry.
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