MARKET DEVELOPMENT
STOCKS NEWS THAILAND-Lam Soon Surges on Crude Palm Oil Quota Report
STOCKS NEWS THAILAND-Lam Soon Surges on Crude Palm Oil Quota Report
18/05/2012 (Reuters) - Shares in cooking palm oil producer Lam Soon (Thailand) gained as much as 10.3 percent to their highest in almost a year after a report that it was among a list of firms receiving allocation of the government's low price crude palm oil import.
Lam Soon was up 9.36 percent at 4.44 baht ($0.14), climbing at one point to 4.48 baht ($0.14).
The government had imported low-price crude palm oil and allocated it to 10 cooking palm oil producers to sell to consumers at a controlled price, Thansettakij newspaper quoted a source as saying.
Lam Soon was not available for comment.