BANGKOK, THAILAND – Trade Minister Suphajee Suthumpun warned that consumer prices were set to rise as production and energy costs increased, while the government relied on short-term controls and long-term sustainable alternatives.
Rising living costs despite relief measures
Trade Minister Suphajee Suthumpun acknowledged that consumer goods were likely to become more expensive because production costs were going up. This applied despite state measures designed to ease the burden on households.
After a meeting on relieving living costs, she said she was working closely with five other ministers on a nationwide programme for affordable goods. The aim was to cushion price pressures for consumers.
“Crisis upon crisis”: weak growth and expensive energy
Suphajee described the economic situation as
“crisis upon crisis.”
said Suphajee Suthumpun, Trade Minister. Growth remained subdued, while geopolitical tensions were driving energy prices higher.
According to her, higher energy costs worsened existing problems and increased pressure on prices and inflation. She expected additional inflationary impulses this month, particularly from more expensive energy.
Plastic resin designated a controlled good amid global turmoil
A key trigger for further action was an 8 April decision to classify plastic resin as a controlled product. The government aimed to respond to sharp fluctuations on global markets.
The move was linked to disruptions in raw material supply chains associated with the war in the Middle East. By designating resin as a controlled good, authorities sought to better protect firms and consumers from abrupt price spikes.
Sustainable packaging push: plant fibres instead of plastic
The Trade Ministry also held talks with the Industry Ministry to promote environmentally friendly packaging. The focus was on using natural plant fibres and agricultural by-products.
Materials mentioned included sugarcane bagasse, rice straw and other biomass as alternatives to plastic. The government pursued a dual strategy of short-term regulation and long-term promotion of sustainable substitutes.
Stronger domestic oversight: restructuring and more inspectors
To reinforce price supervision and responses to rising living costs, the ministry reorganised its internal procedures. The area of price regulation was given particular emphasis.
Additional inspectors were to strengthen the oversight role of the Department of Internal Trade. The ministry intended to tighten control over price movements and compliance with official guidelines.
New advisory teams for export strategies in key regions
To support the Department of International Trade Promotion, advisory teams were set up. They included economists with expertise in important markets such as China, Asean, the United States and Europe.
These teams were tasked with helping to develop targeted strategies for individual regions. In parallel, the government pursued a cluster approach intended to coordinate ministries, the private sector and farmers.
Fertiliser stocks only until mid-May as imports set to rise in price
On fertiliser, Suphajee saw concerns over both prices and supply. Fertiliser remained a controlled product, and no price increases had yet been approved.
However, existing stocks were expected to last only until mid-May. New imports from Malaysia and Brunei were likely to be more expensive, while shipments from the Middle East were uncertain due to tensions and alternative sourcing from Russia was being examined.
Price requests for palm oil, shampoo and soap under review
Applications for price hikes on certain consumer goods such as bottled palm oil, shampoo and soap were under consideration. The ministry had not given its approval so far.
Authorities were requesting further information and weighing a gradual approach to prevent shortages. Suphajee stressed that prices would be
“inevitably”
said Suphajee Suthumpun, Trade Minister. rise once higher input costs took effect.