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Vegetarian Festival boosts oil

BUSINESS: The vegetarian festival is expected to boost the sales of vegetable oil and bring billions of baht into circulation across the country.

Friday 30 September 2011, 12:14PM

According to Kasikorn Research Center, the vegetarian festival is likely to push the sales of vegetable oil by 10 per cent. This year, the vegetable oil industry is predicted to see 20-25-per cent rise and generate B25 billion in income thanks mainly to growing demand from consumers, the food industry and health-conscious people.

However, the centre has warned that the demand jump could lead to shortage of palm oil and bean oil.

Meanwhile, the Chamber of Commerce and University of the Thai Chamber of Commerce have speculated that B35 billion would be spent during the vegetarian festival, up from B33 billion from the same period last year. Each consumer is estimated to spend B420 on food daily. – NNT



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