Traders in Thailand warned against price gouging and hoarding as they monitor potential impacts from Middle East unrest on essential goods.
BANGKOK: The Thai government has instructed all relevant agencies to prepare response measures to mitigate any potential impact on the country from Middle East unrest, including cracking down on profiteering.
Deputy government spokesperson Airin Phanpharit said authorities have been directed to ensure sufficient availability of consumer goods and essential daily necessities while warning retailers against exploiting the situation.
She stressed that traders must clearly, accurately, and fully display prices of goods and services in accordance with the law, reiterating a call for strict compliance with the Price of Goods and Services Act (1999).
“They are prohibited from exploiting the situation to increase prices of goods and services, from hoarding goods, or from engaging in any conduct that causes unfairness to consumers,” Airin said in a statement, warning of immediate legal action for any violations.
The offence of unjustifiably increasing prices carries a maximum penalty of seven years’ imprisonment, a fine of up to 140,000 baht, or both according to the spokesperson.
Airin urged the public not to panic, noting that inspections by the Department of Internal Trade have confirmed consumer goods remain adequately supplied with no current factors necessitating price increases.
The government will continue to monitor developments closely and has instructed relevant agencies to strictly enforce legal measures against those found exploiting consumers to safeguard the cost of living.
Airin advised the public encountering unjustified price increases, failure to display prices, or hoarding to lodge complaints via the Department of Internal Trade hotline 1569 or through provincial commerce offices nationwide.
