Thai feed prices to increase
Thai feed manufacturers will finally be ably to raise feed prices for the first time in four years. The industry has been lobbying the government to allow a price increase to help offset the escalating cost of fuel and raw materials. Soybean meal, corn and fishmeal prices have all risen since last year, in some cases by as much as 100%. The government will finalize the types of feed products that will be affected by the end of the week but fishrimp and pig feed will be given priority.
The Thai government is concerned that a hike in feed prices will have a ripple effect of the food chain. Price increases will be introduced gradually to give both consumers and farmers more time to adjust. The Thai feed association will work with the government to provide special rates for particular products to help poor farmers.