Cabinet mulling over import of cooking oil to keep the price low

Published on March 21, 2012 by TFP   ·   No Comments

BANGKOK, 21 March 2012 -Agriculture and Cooperatives Minister Mr. Theera Wongsamut explained that a proposal by the Ministry of Commerce to import raw palm oil was intended to keep the domestic retail price at 42 baht per bottle.

Amid calls from retailers to raise the price of palm oil per bottle, the Ministry of Commerce has already proposed to the Cabinet an import of 40,000 tons of raw palm oil via the country’s largest oil conglomerate, PTT Plc. The imports would be sold to local manufacturers for less than 30 baht a liter.

Mr. Theera said while the move is absolutely necessary to peg the price at 42 baht for consumers, the import proposal is being considered and will be brought to the attention of the Palm Oil Policy Committee for further deliberation.



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