BANGKOK, 24 May 2012 – Palm oil producers have complained that since the government began importing palms to tackle the shortage, they have been suffering from price drop.
The Oil Palm and Palm Oil Association has announced that the palm oil price has been reduced to 4.40 baht from 6 baht per kilogram two weeks ago. It said the price drop came as a result of the government’s decision to import palm oil. It is asking for the government’s assistance on the current matter.
The association will discuss with the Commerce Ministry over the planned surcharge on palm oil export, which was announced on the royal gazette on May 19, about which most of the exporters are still uninformed.