Discounts on 44 products in light of falling oil prices are likely to be available next week.
Boonyarit Kalayanamit, director-general of the Internal Trade Department, said although a joint meeting with the private sector failed to conclude the rate of discounts for their goods, the private sector agreed to propose their plan to cut product prices next week.
The Commerce Ministry held a joint meeting with manufacturers, wholesalers and retail operators yesterday to discuss the possibility of reducing the prices of goods as the price of oil continues to fall.
Ministry officials have closely monitored and analysed the overall price structure of consumer products and say it is time for private operators to cut their prices.
Certain oil-related products were found to have lower prices including lubricants, plastic pellets, roof tiles, steel sheets, steel rods, structured steel, cement and chemical fertilisers.
But based on site inspections by the authorities, the prices of general consumer products remain unchanged.
Manufacturers argue failing oil prices have not significantly lowered their production costs.
More importantly, the baht's weakness has affected their imported raw materials.
They claim falling oil prices have benefited only the transport sector.
The ministry was directed recently by Deputy Prime Minister Somkid Jatusripitak to rev up efforts to control consumer product and food prices, tackle low farm prices, stimulate exports and promote community enterprises.