July 25, 2008
Bangkok - The Internal Trade Department (ITD) has not approved the vegetable oil price hike yet. The palm oil is still priced at 47.50 baht.
Rumor has it that commerce ministry plans to allow the vegetable oil prices to rise 3-5 more baht.
Yanyong Phuangraj, director-general of the Internal Trade Department, said the price of the raw palm oil still remains at 36.50 baht per kilogram.
The vegetable oil price hike will be revised by commerce ministry as it is against the direction of the world oil prices and government’s stimulus measures.
Virun Techapaibul, Deputy Commerce Ministry, revealed relating parties were invited to discuss the issue.
Commerce ministry confirmed it would take care of people so that they would not be affected too much.
The owners of 73 product items yesterday called for product price increase due to high production costs.
These product items included fertilizer, pesticide, tyre, canned fish, fish sauce, instant coffee and so on.
