Price adjustment formula under study

The department must also come up with the price adjustment formula, which would allow the increase in prices of the products at times of higher raw material prices. Meanwhile, when the raw material prices drop, the product prices must also fall accordingly.

Several goods manufacturers have demanded the approval for price increases following the rising costs of agricultural crops, particularly those which could be switched to alternative fuel production like palm oil.

At the meeting on Wednesday, the palm oil committee, chaired by Krirk-krai, also approved the imports of no more than 30,000 tonnes within February 29 to ease shortages.

 Earlier, the sub-committee proposed the imports of 60,000 tonnes.

 The conclusion would be presented to the Cabinet next week for approval.

- The Nation