FTI offers the Gov to maintain food prices after floodwater recede

Mr. Payungsak Chartsutipol, Chairman of the Federation of Thai Industries, proposed to the government to maintain prices of farm products to reduce financial impact on SME operators.

The FTI Chairman said that floods had cost industries across the sector 50-60 billion THB in damage. He added that the auto industry would be severely affected if the water levels did not recede given how it had already been struggling with the production quota since the tsunami hit Japan.

The prices of raw products are expected to soar as the result of massive flooding across the nation. SMEs, agro, tourism and retail industries have all been affected. Mr. Payungsak said fresh food prices would start to increase at the end of this year until early next year and it was important that the government maintain their prices to increase domestic spending to keep the economy healthy.