Bottled palm oil price soars to over 70 baht per litre

[webfact]

 

Despite appeals to palm oil producers, by the Commerce Ministry, to maintain their ex-factory price at between 65 and 68 baht per one-litre bottle, the price of bottled palm oil has soared to over 70 baht per litre in most markets.

 

A random survey, conducted by Thai PBS reporters, shows the retail price of the bottled palm oil ranges from 70-76 baht in some markets and, while the price remains at 68 baht/bottle or lower in department stores, each customer can only buy six bottles at a time.

 

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A grocery store-owner said that she had to increase the retail price because the cost of a pack of 12 bottles at the wholesaler is about 800 baht and, if she is to sell them at 70 baht each, she can only make about 3 baht per bottle.

 

Full story: https://www.thaipbsworld.com/bottled-palm-oil-price-soars-to-over-70-baht-per-litre/

 

-- © Copyright Thai PBS 2022-05-20

 

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[RafPinto]

Soon our friend will post here.
 

He complains about expensive wine and soon, he will see that wine is cheap but cooking oil is expensive.????

[KhunLA]

Russia's fault ... fake oil shortage = more palm for biofuels, less for cooking.  Supply & demand.

 

Not buying it myself, palm or the BS.  Just don't stop making E85.

[RafPinto]

2 minutes ago, jacko45k said:

Simpler than that... she needed to buy Palm Oil on the way home after work......

That was probably the massage oil.

[jacko45k]

Just now, RafPinto said:

That was probably the massage oil.

Yes, I said Palm Oil.......

[bkk6060]

8 minutes ago, jacko45k said:

Simpler than that... she needed to buy Palm Oil on the way home after work......

Can't stop laughing at that one..  ????

 

The price increase seems minimal but they use a lot of oil here in food prep. expect price increases especially smaller inexpensive markets.

[The Hammer2021]

Palm oil does not  need  to be used and there are plenty of alternatives

[ChrisY1]

Stop using palm oil! 

Palm oil wrecks forests! It's garbage and should be banned!

[mtls2005]

1 minute ago, ChrisY1 said:

Stop using palm oil! 

Easy for you to say, but the thai cook to order food industry prepares millions of dishes per day. and many require palm oil.

 

What do you suggest they use? Cake?

 

Palm oil[1] yield per unit of land is 6-10 times[2] higher than for other oil crops such as soy, rapeseed, sunflower, coconut and olive. This means oil palm has the lowest production cost among vegetable oils.

 

https://www.krungsri.com/en/research/industry/industry-outlook/agriculture/sugar-(1)/IO/io-oil-palm-20-th

 

 

Indonesia lifted their palm oil export ban this week so there should be some price stabilzaiton/relief?

[The Hammer2021]

3 minutes ago, mtls2005 said:

Easy for you to say, but the thai cook to order food industry prepares millions of dishes per day. and many require palm oil.

 

What do you suggest they use? Cake?

 

Palm oil[1] yield per unit of land is 6-10 times[2] higher than for other oil crops such as soy, rapeseed, sunflower, coconut and olive. This means oil palm has the lowest production cost among vegetable oils.

 

https://www.krungsri.com/en/research/industry/industry-outlook/agriculture/sugar-(1)/IO/io-oil-palm-20-th

 

 

Indonesia lifted their palm oil export ban this week so there should be some price stabilzaiton/relief?

Rice bran oil

[Andycoops]

Personally I don't buy the environmentally toxic stuff eradicating forests and wildlife and much prefer the healthiest oil which is of course olive.

[ukrules]

31 minutes ago, mtls2005 said:

Indonesia lifted their palm oil export ban this week so there should be some price stabilzaiton/relief?

Yes

[SymS]

Stocked up 12 bottles of cooking oil earlier this year. There aren't any small savings ????

[thailand49]

I don't know the economics as to why but I remember short of two years, I was buying the cheapest at 24-28 baht at Lotus, then read a story that Palm Oil produces protested the price was too low thereafter it steady started to rise. The cheapest on the shelf of Makro yesterday was 78, baht!

[Adumbration]

I have posted before and I will post again.  This has little if anything to do with supply chain distrubtion and everything to do with the fact that just a handfull of families own everything here in Thailand and they are currently on a price gouge binge because they have lots of excuses an there is now absolutely no one to pull them into line.

[CharlieH]

Off topic posts and responses to them removed.

[RafPinto]

4 hours ago, jacko45k said:

Yes, I said Palm Oil.......

My last massagist must have used palm oil because a little tree was growing.

Edited May 20, 2022 by RafPinto

[mahtin]

2 hours ago, The Hammer2021 said:

Rice bran oil

Nice, but hard to find under 100 Baht.

[Misterwhisper]

Great news!

 

You guys are using waaaay too much oil in your Thai cooking anyway.

Plus your overuse helps destroy more and more rainforest.