Thai feed companies allowed to raise prices

Feed companies in Thailand will soon be finally allowed to hike prices to offset rising production costs. Shrimp and pig feed are the first feeds that will be sold against a higher price.

Thai feed producers have been asking for permission to raise prices since the costs of raw materials, including soybean meal and powdered fish, shot up last year. The government froze animal-feed prices in 2004, and has not approved price increases since then out of fear that they would cause a chain effect on related industries.

Now, the Commerce Ministry will allow retail prices to go up soon, Internal Trade Department director-general Yangyong Phuangrach said last week. The new prices would be gradually implemented to give both consumers and farmers more time to adjust.

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