Bangkok: The Department of Internal Trade has initiated the sale of bottled palm oil at a reduced price of 49 baht per bottle in 50 locations across Bangkok, with the market price currently ranging from 53 to 61 baht per bottle. It is anticipated that as palm oil production increases from March 2025, prices will decline.
According to Thai News Agency, the recent rise in palm oil prices is attributed to drought conditions, which have led to a decrease in palm fruit availability, subsequently impacting consumers. In response, department stores have been limiting purchases to 3-4 bottles per person. In an effort to mitigate the impact on consumers, the Ministry of Commerce has partnered with the Thai Fresh Market Association, the Thai Agricultural Wholesale Market Association, and 60 markets to offer palm oil at the lower price of 49 baht per bottle. This initiative began on February 17, rotating through participating markets. Additionally, PT Max Mart and 320 PT gas stations commenced selling palm oil at a cost price of 55 baht per bottle on February 18. Further details on sales points can be accessed on the Department of Internal Trade's website, www.dit.go.th.
Mr. Kornnit Nonjui, Deputy Director-General of the Department of Internal Trade, reported that the department has observed a steady stream of consumers purchasing low-priced products at the Mobile Blue Flag, Ram Intra Neramit Community. He expressed gratitude for the increased options in palm oil consumption. The project aims to sell 3 million bottles through mobile markets and petrol stations, initially targeting Bangkok and its surrounding areas before expanding to other provinces.
The department anticipates that the situation will normalize once palm oil production increases post-March 2025, easing price pressures. The subcommittee on palm oil balance management is closely monitoring the situation, focusing on farmers' sales, refinery production, and bottled palm oil sales. While the current supply is deemed sufficient, the department aims to enhance the availability and distribution of affordable palm oil to as many communities as possible.
Mrs. Channipa Sathirapan, Secretary-General of the Thai Fresh Market Association, acknowledged the Department of Internal Trade's efforts, expressing gratitude for the initiative. She highlighted the association's commitment to cooperation, particularly during challenging times for the public. The initiative allows for the distribution of two bottles per person, with each location receiving approximately 300-500 bottles, aiming to alleviate some of the difficulties faced by affected individuals.