Bangkok: Supajee Suthamphan, the Deputy Prime Minister and Minister of Commerce, has called for a nationwide inspection of plastic pellet inventories while acknowledging the positive effects of the recent US-Iran ceasefire. The move comes as plastic pellet prices continue to rise, prompting discussions with the industrial sector and PTT, Thailand's national oil and gas company, to develop a strategic approach to manage these essential materials.
According to Thai News Agency, Ms. Supajee Suthamphan emphasized the importance of the US-Iran ceasefire in stabilizing production costs, as she chaired a joint meeting with the Ministry of Industry and PTT. The easing of tensions in the Middle East is seen as a promising development for maintaining the stability of goods at their source, which is crucial for Thailand's economy.
In recent decisions, the Ministry of Commerce declared plastic pellets a controlled commodity at the end of March. This declaration necessitates an urgent investigation into the stock levels and the reasons behind the price surge, to prevent any adverse effects on the prices of essential consumer goods, which are vital for the public's daily needs.
To address these challenges, the government is also planning to boost plastic recycling efforts. Currently, only 20% of Thailand's plastic waste is recycled, and increasing this percentage is deemed essential to reduce the country's dependency on imported raw materials, especially during shortages.
Interagency collaboration is underway, with Mr. Varawut Silpa-archa, Minister of Industry, and senior PTT executives involved in integrated planning. The cooperation aims to manage product supply efficiently and ensure that the manufacturing sector's demand is adequately met.