Nominees 'manipulating' fragrant coconut marketCoconuts at a plantation in Thap Sakae district, Prachuap Khiri Khan province. File photoThe government is stepping up measures to stabilise the fragrant coconut market after investigations uncovered foreign-backed businesses allegedly manipulating prices and harming farmers. Poonpong Naiyanapakorn, director-general of the Department of Business Development (DBD), said the agency held talks with 10 government bodies to address falling coconut prices and examine foreign investment in fruit-packing businesses. Investigators identified 15 companies suspected of using Thai nationals as nominee shareholders on behalf of foreign investors. Siripong Angkasakulkiat, deputy government spokesman, also warned some middlemen could intentionally depress prices to buy coconuts cheaply, potentially linked to foreign investors using Thai nominees.

Source: Bangkok Post March 09, 2026 00:25 UTC