Thailand: Committee approves cancellation of factory gate price regulation for sugar

June 14, 2024
ChiniMandi |

The government extended its control over 57 products and services including the sugar sector by another year with effect from June 12 in a bid to regulate consumer essential goods and services, the spokesperson Phumtham Wechayachai announced yesterday.

This was a result of the meeting held by the Central Committee on Prices of Goods and Services yesterday, according to the deputy prime minister and minister of commerce.

As per news report published in Thethaiger, additionally, the committee approved the cancellation of the factory gate price regulation for sugar, as proposed by the Office of Cane and Sugar Board (OCSB). This decision reflects the stabilisation of the sugar market, although sugar will remain a controlled product.

The meeting concluded with a resolution to extend this regulation of 57 items in 11 categories by another year to arrange for proper oversight under the Price of Goods and Services Act of 1999. These categories include paper and products, transport equipment, agricultural factors, petroleum products, medicines and medical supplies, construction materials, key agricultural goods, consumer goods, food, other goods, and services.

The need for such steps to ensure market stability and fair play concerning the consumer has been emphasised. Once in control, their prices will be contained at an affordable level, reflective of the keen interest taken by the government in consumer protection and market control.

The extension of the control period is made at a very critical time when the country is struggling in the path of economic recovery.