Palm oil prices will fall from January, farmers in Surat Thani say

Palm oil growers in Surat Thani recently assured a senior Commerce Ministry official that the price of palm oil for cooking will drop in January once fruit yields return to normal.

Witthayakorn Maneenetr, inspector general at the Ministry of Commerce, spoke to reporters during a visit to a palm oil extraction factory in Surat Thani. He also visited a company that buys oil palm fruit, as well as an oil palm plantation nearby.

Witthayakorn said he had spoken to representatives of the three parties and learned that the price of cooking oil made from palm oil would rise due to declining palm fruit yields.