Thai commerce ministry struggles to control upsurge in palm oil prices

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Jurin said he admitted it was difficult to reach a compromise on the matter while the Ministry of Commerce had discussed it with producers and consequently palm oil had been priced at 62-64 baht per bottle for a certain period.

The commerce minister admitted that the price of bottled palm oil soared and said he ordered the Department of Internal Trade to work out a reasonable price with stakeholders.

Commerce Minister Jurin Laksanawisit said his ministry was aware of the retail price of bottled palm oil which nearly reached 70 baht per bottle and he ordered Wattanasak Sueaiam, the director-general of the Department of Internal Trade, to discuss a reasonable and affordable price with representatives of farmers, refiners and consumers.

MrJurin said he admitted it was difficult to reach a compromise on the matter. The Ministry of Commerce had discussed it with producers and consequently palm oil had been priced at 62-64 baht per bottle for a certain period, he said.



At present, the price nearly reached 70 baht per bottle and he hoped the Department of Internal Trade would reach a clear direction of the palm oil price after its negotiations with the stakeholders, Mr Jurin said. (TNA)