Oil palm price in Thailand hits highest level in three years

BANGKOK (The Nation/ANN): The price of oil palm has shot up to Bt7.30 to Bt7.50 per kg, which is the highest in the past three years, said Chayodom Suwanrattana, president of the Oil Palm Growers Association of Thailand.

“The reason behind the price hike is that oil palm output this year is lower than normal, while the demand is still high, ” he said.