Palm oil price increase satisfactory: Minister Sontirat

“This reflects the fact that the government’s policies are in tune with market mechanisms, increasing the price at a higher rate than that of many years,” he said. “Also, the rise in price has proved that the government’s move to tackle problems was headed in the right direction.”
The minister said the illegal import of palm oil must be monitored strictly by related agencies.
The palm oil price today increased from between Bt2.50 and Bt3 per kilogramme to around Bt7.
One of the government’s policies that have helped the price increase was the promotion of biodiesel B10. The government has urged the use of crude palm oil in production and also instructed that oil be extracted from palm fruit.