Commerce Ministry assures price guarantee project will not affect market prices

BANGKOK, 8 August 2009 (NNT) – The Commerce Ministry has assured that its agricultural product price guarantee project will not result in lowered market prices.

Director-General of the Department of Internal Trade Yanyong Phuangrach stated that the agricultural product price guarantee scheme will not affect market prices as concerned by many sides. He noted that the administration had successfully implemented a similar scheme in the palm oil industry with no adverse effect. He also assured that the commerce minister had met with relevant groups and made plans to address problems that might arise.

In terms of price guarantee for animal feed and tapioca, Mr Yanyong said the 2 industries still needed further study before they entered the project.