01/07/2011 (Bangkok Post) - The Commerce Ministry's sub-committee on vegetable oil for consumption will soon meet to consider a cut in the egulated retail price of vegetable oils, because their market prices are falling, permanent secretary Yanyong Phuangrach said.

The Commerce Ministry's measure to seek cooperation from palm oil retailers to fix palm oil prices at 47 baht per litre ended on Thursday.

 How far the prices of vegetable oil, including palm oil, could be lowered would depend on the  sub-committee, which would take into account productivity   and consumer demand.

Commerce Minister Porntiva Nakasai said earlier that the price of bottled palm oil could be lowered by about 5 baht a litre.  The current maximum price set by the Commerce Ministry is 47 baht per litre,  Mr Yanyong said.