Maintaining the price of bottled palm oil

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The Nation
The Commerce Ministry’s Department of Internal Trade has asked manufactures and distributors of bottled palm cooking oil to maintain the price for as long as possible to lighten the financial burden faced by consumers after the crude palm price increased to Bt7.5 per kilogramme.

 

The department deputy director Watthanasak Sua-Iam said, “We also advise consumers to use an alternative to palm oil, such as soybean oil, the price for which has not changed much until the oil palm price stabilises.”

The price of crude palm has been increasing steadily from Bt3-Bt3.5 in mid-2020 to Bt7 at the end of last year. Causing the price to jump Bt39 per kilogramme, in turn raising the price of bottled palm cooking oil to Bt46-Bt48 per litre.

The department had revoked price ceilings for palm and soybean cooking oils so these prices would reflect the true cost of production. The ceiling for palm oil had been set at Bt42 per litre and for soybean oil Bt55 per litre.

Source: Nationthailand

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