In Thailand, several supermarkets and discount stores have enforced a 3-bottle limit on Palm Oil (cooking oil) to prevent hoarding. In recent weeks, restaurant and store owners as well as the public have been buying the oil in bulk amidst the rising price of crude palm oil.
The Department of Internal Trade had asked manufacturers and distributors of bottled palm cooking oil to cap the price for as long as possible to alleviate the financial burden faced by consumers after the crude palm price jumped to Bt 7.5 (US$0.24) per kg. This has resulted in the crude palm oil price increasing to Bt 39 (US$1.26) per kg, in turn raising the price of bottled palm cooking oil to an average of Bt 47 (US$1.52) per litre.
The rise in price is due to weather changes which affected the crop harvest but condition is expected to stabilise from April onward.