Thai Trade Dept: No palm oil shortage but prices slightly go up

[webfact]

No palm oil shortage but prices slightly go up



BANGKOK: -- There are adequate palm oil in the market for domestic consumption but prices have gone up slightly to reach allowable ceiling, according to the market inspection by commerce officials.

Santichai Santawanpas, deputy director-general of Internal Trade Department, affirmed the adequate palm oil supply after leading commerce officials to randomly inspect the availability of palm oil in fresh markets, retail shops and convenient stores.

The inspection came after the cabinet on Tuesday agreed to import 50,000 tons of palm oil from Malaysia to prevent domestic shortages.

The import is expected to be delivered to Thailand by the end of this month.

Santichai said there is still sufficient palm oil in the market even though he admitted that their prices have increased from 38 baht per bottle previously to 40-42 baht per bottle.

The ceiling price of palm oil is fixed at 42 baht per bottle by the government.

He told the people not to worry about palm oil shortage and not to hoard the product qs there is still adequate supply in the market.

He said commerce officials will conduct regular inspection on the product.

Prices inspected by offivials showed prices of fresh food such as pork, egg and chicken remain stable.

Pork is sold between 135-140 baht per kilogram while prices of whole chicken stand at 60-65 baht.

Prices of medium or Size 3 egg are at 2.8-3.2 baht per unit. Price of fast dish such ad two-egg omelet on rice is at 20 baht per dish.

Source: http://englishnews.thaipbs.or.th/no-palm-oil-shortage-prices-slightly-go


-- Thai PBS 2015-01-24

[oldsailor35]

Importing PO from Malaysia will only keep the price at the farm gate down for the struggling Thai producers. When they are getting a reasonable rate for their oil, that is the time to think about importing, definately not now. As the 'government' are saying, there is no shortage yet. I suspect yet another Suthep like scam in the PO industry.

[rickirs]

Plenty of palm oil offered on alibaba.com, much of it supplied from Thailand.

[surangw]

a lot of palms oiled in most transactions here

[Ulic]

I just want to know who gets the license to import the palm oil and sell it. Plenty of money to be made there.