The price of pork meat started to climb in May last year, from around 115 baht have risen to 210/250 baht per kg .
Experts believe the current situation is the collective impact of swine diseases, high production cost, abnormal swings in demand and supply, as well as shortsighted government policy.
The government is trying to ameliorate the situation by banning the export of live pigs until April 5 in order to boost local pork supplies.
Pork prices in the market have started to see declines, owing to price curbing efforts by the swine raisers association, slaughterhouses, grocery retailers and the Department of Internal Trade. Farm-front prices have also started to fall below the 110 baht temporary ceiling.
Consumers are wary of the price spiking even higher for Chinese New Year.
Department of Internal Trade Director-General Wattanasak Sur-iam revealed that demand for goods typically associated with Chinese New Year has risen as the festival is fast approaching. Meanwhile, the pork price at farms has dropped to 104 baht per kilogram in the Northeast and 106 baht per kilogram in the Eastern Region, based on January 25 prices. The price at farms is currently capped at 110 baht per kilogram.
Mr. Wattanasuk said the price of bottled palm oil has risen this year, which is a ‘golden year’ for oil palm growers as the price of palm fruit has reached 11 baht per kilogram. However, he said the produce will enter the market in February and more of it will reach market in March and therefore the price is expected to weaken.
The director-general said his department continues to monitor the price of bottled palm oil, and department stores have been asked to keep prices stable for this product.