Thailand: Tesco, Makro, Big C to freeze, reduce prices

Tesco Lotus, Big C Supercentre and Makro - have agreed with the Commerce Ministry to freeze or reduce the prices of more than 2,000 consumer goods and foods until the end of the year, as part of efforts to rein in the rising cost of living.

The three retailers yesterday met with Deputy Commerce Minister Yanyong Phuangrach and promised to set up special promotional plans for essential products, so that consumers do not have to shoulder higher living costs.

The modern traders have agreed to either freeze their prices, or to discount them by 10-50 per cent.

To ensure living costs do not rise further, the ministry has also obtained the cooperation of 5,955 food retailers and street-food traders that they will sell their wares at Bt25-Bt30 per menu, he said.

The promotion will focus on fresh vegetables and fruits, which will help farmers as well as reduce people's spending costs for the upcoming vegetarian festival.

Siriporn Dechsingha, associate commercial director of Siam Makro, said the company would focus its cheap-price campaign on ingredients in order to reduce the production costs of food retailers and restaurants.

Source: nationmultimedia.com