Prices controls : price hike for tinplate rejected

The Great Deflator, AKA the Commerce Minister, the man who managed to reduce the price of toothpaste, is “depressed” and “think about resignation” (Nation).

But meanwhile, the man continues his beloved Zimbabwe style policy : prices controls. 😉

The Commerce Ministry yesterday turned down a request by tinplate producers to raise their prices in line with rising raw material costs. Officials asked producers and importers to hold prices steady for another two months.

The ministry wants the tinplate businesses to hold talks with upstream steel producers, steel importers and end users, particularly canned food producers, to estimate real production costs, said Yanyong Phuangrach, the director-general of the Internal Trade Department.

The producers had sought Internal Trade Department permission to raise their prices by 13% or about 3,000 baht per tonne.

As of March, the world price of tinplate was 59,000 baht per tonne, compared with 52,000 baht at the start of the year. Hot-rolled steel, the key raw materials, increased to 40,000 baht per tonne from 36,000 baht.

Tinplate is used for canned fruit and fruit juice, while chromium-coated plate is widely used in the canned fish and seafood industry.

According to an industry executive, higher tinplate and chromium-coated steel prices would affect the competitiveness of Thai food exports by rising costs of finished packaged-food products. (Bangkok Post)

You can admire the poverty of the reasoning… “But Khun Somchai, if you increase the price of your tinplate, then our canned fruit export industry won’t be competitive anymore… Therefore, I have to reject your request. Thank you. Come to see me next month“.

😉 It’s hilarious.

One advice to the Great Deflator : before to get even more “depressed“… he should declare inflation… illegal.

Purely and simply. That would help. 😉

The inflation tsunami is on the move.

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