Bangkok: Farmers are hopeful for a decrease in domestic fertilizer prices as global market trends show a decline, according to ongoing discussions between the Commerce Ministry and three fertilizer associations aimed at establishing new recommended prices.
According to Thai News Agency, the president of the Thai Farmers and Agriculturists Association, Mr. Pramote Charoensilp, expressed optimism that the easing of conflict in the Middle East has led to a reduction in global fertilizer prices. He anticipates that this trend will be mirrored domestically, providing much-needed relief from the high fertilizer costs that have burdened farmers since the start of the planting season.
Mr. Pramote highlighted the significant impact of fertilizer costs on farmers, particularly those cultivating rice, who have faced elevated production expenses. He emphasized the need for the benefits of declining global prices to be reflected locally, allowing farmers to experience tangible relief. Both the Ministry of Commerce and the Ministry of Agriculture and Cooperatives are actively monitoring the situation and exploring ways to assist farmers. A return to pre-conflict price levels would significantly ease production costs and hardships for farmers.
Furthermore, Mr. Pramote urged that if new recommended prices are established, the Department of Internal Trade should ensure compliance among fertilizer retailers to guarantee that farmers benefit from the cost reductions.
Reporters noted that on June 22nd, the Department of Internal Trade plans to meet with three fertilizer associations to assess the current fertilizer situation in terms of availability and pricing. These discussions are expected to lead to a revision of recommended prices for various fertilizer formulas, aligning with changing costs and alleviating the financial burden on farmers.