Department approves increase in fertiliser prices

The Internal Trade Department approved on Friday local traders and suppliers increasing fertiliser prices in line with rising production costs, but the move is on a case-by-case basis, not across the board.

Wattanasak Sur-iam, director-general of the department, said the rate increase for each trader and supplier will not be identical because their production costs vary.

According to Mr Wattanasak, who met fertiliser entrepreneurs on Thursday, production costs have risen by as high as 36-49% over 2021 levels and nearly 100% above 2020 levels, primarily due to a sharp rise in global crude oil prices and the Russia-Ukraine war.

Thailand is a net importer of fertiliser, importing more than 5 million tonnes…