The Commerce Ministry has called on edible oil processors to refrain from increasing retail prices, citing a lack of factors influencing production costs.
In response to reports that soybean oil producers intend to raise the price of bottled soybean oil, Goranij Nonejuie, deputy director-general of the Internal Trade Department, stated that a letter was sent to the Soybean and Rice Bran Oil Processors Association, prohibiting any price hikes due to the absence of increased production costs.
Any wrongdoing, such as overpricing, hoarding, or refusal to sell these products, is considered a violation of the Price of Goods and Services Act of 1999.
Mr. Goranij urged consumers to report unfair practices or instances of overpricing by contacting the department’s hotline at 1569 or visiting local commerce offices.
The department is also seeking collaboration from both wholesale and retail outlets to provide discounts and run promotional campaigns aimed at lowering costs for consumers.
Additionally, the agency is working with provincial commerce offices across the country to monitor prices and prevent unreasonable increases in the sale price of soybean oil.
Regarding palm oil, the department has urged wholesale and retail businesses to maintain the price of bottled palm oil as long as possible, given that current stocks are sufficient for consumer needs and fuel production.
Wittaya Maneenet, inspector-general and spokesman for the Commerce Ministry, has engaged in discussions with the Palm Oil Extraction Mills Association and various retailers to manage stock levels and postpone price hikes for consumers.
This association and the Palm Oil Refinery Association have committed to supporting the government’s initiatives by agreeing to halt exports and collaborate to stabilize prices.
To deter price gouging, the department has warned that violators could face penalties of up to seven years in prison, fines of up to 140,000 baht, or both.
