Bangkok: The government is urgently addressing the fertilizer crisis, as stockpiles are tighter than expected due to five ships stranded in the Strait of Hormuz. Thailand is facing a tighter-than-expected fertilizer stock situation after five fertilizer tankers were stranded in the Strait of Hormuz, impacting domestic reserves. Authorities are urgently coordinating efforts between the Ministries of Commerce, Foreign Affairs, and Agriculture to resolve the situation and strictly monitor fertilizer prices.
According to Thai News Agency, Commerce Minister Supajee Suthamphan stated that while it was initially estimated that domestic fertilizer reserves would be sufficient until August, the stranded shipping vessels have delayed the arrival of fertilizer in the country, resulting in a tighter domestic supply than anticipated.
The Ministry of Commerce has coordinated with the Ministry of Foreign Affairs to closely monitor the transportation situation and is working with the Ministry of Agriculture and Cooperatives to adjust fertilizer usage guidelines. This includes promoting the appropriate use of fertilizers and adjusting formulas to suit different crops, in order to reduce reliance on imported raw materials.
It was reiterated that fertilizer is a controlled commodity, and any price adjustments must be properly authorized and have their costs verified to avoid negatively impacting farmers. Regarding fuel, Ms. Supajee stated that although it falls under the specific laws of the Ministry of Energy, the Ministry of Commerce will invite relevant agencies to jointly inspect the cost structure from the production process to the consumer, in order to assess the appropriateness of pricing and various premiums to reflect true costs.
The Ministry of Commerce is preparing to launch the "Thai Helps Thai" project from April 1, 2026, offering discounts of up to 50% on over 1,000 essential items, averaging 25-50%, covering Bangkok and all 76 provinces nationwide. Furthermore, the government continues to regulate controlled goods under the Price Control Act of 1999, currently totaling 59 items, with a review underway to add essential goods. Measures are also being upgraded to require permission before adjusting prices for certain types of goods, and to expand the list of goods requiring advance notification, in order to closely monitor the situation.
To date, inspections have been conducted at over 4,000 locations nationwide regarding price labeling, resulting in over 400 complaints received. Authorities are continuously working to resolve these issues, and any violations will be prosecuted strictly according to the law.
Meanwhile, the government is accelerating the search for new export markets, instructing trade envoys worldwide to expand trade opportunities and discuss new trading partners, such as South Africa and Latin America, to mitigate the impact of transportation delays, particularly for rice exports to the Middle East, where orders remain but are affected by logistical issues.
The government affirms it will continue to use integrated measures encompassing supply, price, and market aspects to manage the economy and the cost of living for citizens during the global crisis.