Retail prices of one-litre bottles of palm oil at department stores and super markets have reduced from 69-70 baht to 64-65 baht, in response to a request from the Internal Trade Department.

The department’s deputy director-general, Udom Srisomsong, said today (Thursday) that the prices charged may, however, differ between stores, depending on their costs or their old stocks.

He insisted, however, that the selling prices must reflect the actual production costs, as the prices of the raw palm seeds, used in production, have been declining steadily.

He disclosed that the department has received complaints claiming that, as the prices of raw palm seeds peaked around 62-63 baht per kilogram and have now dropped to 42-43 baht per kilogram, the prices of one-litre bottles of palm oil should be about 42-43 baht.

He offered an assurance that there are sufficient supplies to meet demand.

Palm oil is among 51 items for which prices are controlled by the Internal Trade Department.