Area
Thailand
Commodity Group
Oilseeds, oils and meals
Commodity
Palm oil
Date
01/04/2020
Policy Category
Consumption and marketing
Policy Instrument
Market regulation
Description
Took steps to reduce the retail price of palm oil to shield consumers from price rises during the COVID-19 emergency. While entrepreneurs were requested to lower the price for 1-litre bottles, collaboration with refiners was stepped up to ensure that palm oil deliveries to factories remained adequate amid nationwide movement restrictions. Meanwhile, farmgate prices for fresh fruit branches would remain guaranteed.
Notes
THAILAND market regulation (COVID-19 related, temporary measures): With a view to shield consumers from price rises during the COVID-19 emergency, the Government took steps to reduce the retail price of palm oil. On 7 April, the Department of Internal Trade requested entrepreneurs to lower the price for one-litre bottles to THB 3940 (USD 1.221.25), depending on brands. Furthermore, the Commerce Ministry would step up collaboration with refiners to ensure that palm oil deliveries to factories remain adequate during COVID-19 related movement restrictions. At the same time, the farmgate price for fresh fruit branches would remain guaranteed at THB 4 per kg (USD 0.13).
