The operators of all department stores agree to reduce the retail prices of one-liter bottled palm oil to 64-69 baht this week, according to the Department of Internal Trade.
Udom Srisomsong, deputy director-general of the department, said representatives of department stores already promised to cut the retail prices of one-liter bottled palm oil at their premises in accordance with the declining prices of oil palm nuts and crude palm oil.
However, the retail price reduction might be slow because high global oil prices raised transport costs, he said.
Mr Udom said that the prices of one-liter bottled palm oil would decrease from 68-70 baht to 64-69 baht at all department stores. The products of some brands will continue to be retailed at 70 baht per bottle.
Those at 7-Eleven stores would be still available at 70 baht until July 14 and their prices would later drop to the same level of prices at department stores, Mr Udom said. (TNA)
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