Internal Trade Dept to control price hikes in construction sector

BANGKOK, 22 September 2009 (NNT) – Internal Trade Department Director-General Yanyong Puangrach will invite the construction sector to discuss preparations for the increasing construction material demands.

Mr Yanyong said retailers and wholesalers of cement, metal sheets, and other construction materials were expected to participate in the meeting with the ministry. The director-general said the retailers and wholesalers would be asked about their businesses, products prices, as well as estimation of supplies to prepare for higher demands from projects under the economic stimulus Strong Thailand scheme.

Mr Yanyong said the meeting was part of the department’s effort to prevent product hoarding and overpricing.

The director-general added that the 50 kilogram-mixed cement price in September 2009 decreased by 3-5 baht while portland cement price dropped by 5 baht compared with August. He also reported an increase in the steel bar price and confirmed that it would not exceed the ceiling price set by the department.