18/03/2011 (Bangkok Post) - The Commerce Ministry aims to cut the capped palm oil price by 5 baht from 47 to 42 baht for a one-litre bottle following a drop in the price of the raw material after an increase in the supply of fresh palm nuts.

The price cut is expected to take effect next week.

The ministry will propose to the National Palm Oil Policy Committee next Thursday to approve a halt in compensation paid to cooking palm oil producers as the price of fresh palm nut yesterday was 5 to 5.10 baht a kilogramme, much lower than 8.49 baht recorded last month. The price of crude palm oil has also dropped from a high of 58 baht a litre to 32.50-33 baht.