The sweet choice: retailers keep sugar prices down
Giant retail and wholesale stores in Thailand are maintaining the old price of sugar following a recent nationwide price hike of 2 baht per kilogram, but have implemented measures to prevent hoarding of the sweet commodity.
The Cabinet on Tuesday approved the Cane and Sugar Board’s proposal to increase the retail price of sugar by 2 baht per kg.
Initially, the board wanted to raise the price of sugar by 4 baht per kg from the end of October to keep up with the rising global price, but the Cabinet put this on hold for two weeks by declaring sugar a controlled commodity.
Aswin Techajareonvikul, chief executive officer and president of Big C Retail Corporation, said on Wednesday that Big C stores have adequate stocks of sugar and will continue to sell at the old price.
However, the retailer capped the buying limit of each household to three bags of 1 kg, which cost from 24-25 baht each.
“The measure is to make sure that all families have access to sugar,” he said. “Furthermore, Big C has partnered with several sugar producers to prevent shortages or supply chain problems.”
The operator of Lotus’s stores also told The Nation on Wednesday that the company will maintain the old price of sugar but will limit each customer to 3 kilo bags per day to make sure that the stock is adequate for all clients.
Meanwhile, the operator of GO Wholesale, a wholesale centre for food entrepreneurs, said that a cap has been placed on the purchase of sugar, which is being sold at the old price.
Enterprises can buy up to 1 sack (25 kg) per day, while general customers can buy up to 5 bags of 1 kg per day, it said.
