Lam Soon Thailand
Lam Soon (Thailand) (SET: LST) is a listed consumer FMCG player anchored in palm-oil-based cooking oils, margarine, wheat flour. Brands: Oleen cooking oil (retail, HORECA), Naturel refined oils (premium). Founded 1977. Sources refined palm olein from domestic refiners, imports. Brand, retail, distribution moat gives a different risk profile than upstream plantation players — cooking-oil margins, FMCG competition drive earnings more than CPO cycle. Consumer-brands hedge against raw CPO price volatility.
Snapshot
Headline numbers a buyer checks first.
Ticker
SET: LST
Listed 1986
Brands
Oleen, Naturel
Ongoing
Share
~8% Thai palm-oil value chain
FY2024
Model
Consumer brand, HORECA
Ongoing
What this company actually does
Lam Soon bottles, markets Oleen cooking oil (mass retail, HORECA) and Naturel refined oils (premium), plus margarine, wheat flour, other FMCG lines. Sources refined palm olein from domestic refiners (including imports). Retail distribution via modern trade (7-Eleven, Tesco, Big C, Tops), HORECA.[]
Competitive set: Patum Vegetable Oil (private Morakot brand, private label); other regional cooking-oil brands. LST differentiates on brand equity, modern-trade distribution, premium (Naturel), mass (Oleen) range. Margin-squeeze risk when MOC price controls retail cooking-oil, CPO feedstock rises.[, ]
Brand and product portfolio
Mass market
Oleen cooking oil
Oleen is LST's flagship mass-market cooking-oil brand, distributed through 7-Eleven, Big C, Lotus, and HORECA channels nationwide. Oleen commands approximately 8% of Thailand's bottled-cooking-oil retail value, competing primarily on price and availability.
Premium segment
Naturel refined oils
Naturel is LST's premium cooking-oil brand targeting health-conscious and higher-income households. Positioned against imported European olive oils and premium sunflower brands. Naturel's margin is significantly higher than Oleen's mass-market line.
Adjacent products
Margarine, wheat flour, and blended fats
Margarine and wheat flour lines serve HORECA and industrial bakery customers. Blended fats for the industrial food-processing segment are a stable lower-revenue contribution, less exposed to MOC retail-price controls.
Thai palm-oil consumer brands — peer comparison
Major Thai bottled cooking-oil brands, market position 2024
Oleen (Lam Soon)
Morakot (Patum Vegetable Oil)
Ticker
Unlisted (private)
Segment
Mass cooking oil, institutional
Retail share (est.)
Primary channel
Wholesale, institutional
Jade Leaf (TVO)
| Brand / Company | Ticker | Segment | Retail share (est.) | Primary channel |
|---|---|---|---|---|
| Oleen (Lam Soon) | SET:LST | Mass cooking oil, HORECA | ~8% | 7-Eleven, Big C, Lotus |
| Morakot (Patum Vegetable Oil) | Unlisted (private) | Mass cooking oil, institutional | ~15% | Wholesale, institutional |
| Jade Leaf (TVO) | SET:TVO | Cooking oil, soybean | ~10% | Modern trade, HORECA |
| Naturel (Lam Soon) | SET:LST | Premium refined oils | ~3% | Modern trade premium |
Watchpoints 2025-2026
Regulatory
MOC retail price control windows
Ministry of Commerce reference prices on bottled cooking oil cap retail pricing during CPO-price spikes. Extended MOC price controls compress LST gross margins on Oleen; MOC intervention windows are the primary short-term earnings-risk signal.
Input costs
CPO feedstock and import volumes
LST sources refined palm olein from domestic refiners and imports when domestic supply tightens. MPOB Malaysia benchmark CPO prices and Thai import-duty adjustments directly affect feedstock costs and the Oleen brand margin.
Related Market profiles
Peers, parents, partners, agencies, and other Palm Oil actors.
Competitor
Patum Vegetable Oil
Private Thai palm oil refiner, competing cooking-oil brands.
Open Market profile →
Competitor
Univanich Palm Oil
Listed integrated Thai palm oil producer upstream.
Open Market profile →
Competitor
Chumporn Palm Oil Industry
Listed mid-scale Thai palm oil producer.
Open Market profile →
Sources + data provenance
Every filing, filing-adjacent register, or trusted industry source cited in this profile.
Lam Soon Thailand PCL — 56-1 One Report FY2024
Publisher
Lam Soon (Thailand) PCL
Grade
Primary
As of
2025-03-31
Ministry of Commerce — Palm Oil Reference Price, Stockholding
Publisher
Ministry of Commerce (Internal Trade Department)
Grade
Primary
As of
2026-03-31
Patum Vegetable Oil — Private Thai Palm Oil Refiner
| Source | Publisher | Grade | As of |
|---|---|---|---|
| Lam Soon Thailand PCL — 56-1 One Report FY2024 | Lam Soon (Thailand) PCL | Primary | 2025-03-31 |
| Ministry of Commerce — Palm Oil Reference Price, Stockholding | Ministry of Commerce (Internal Trade Department) | Primary | 2026-03-31 |
| Patum Vegetable Oil — Private Thai Palm Oil Refiner | Patum Vegetable Oil Co., Ltd. | Supporting | 2025-12-31 |
Reports featuring this profile
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competitor
Patum Vegetable Oil
Largest private Thai palm oil refiner; RBD palm olein cooking oil, industrial palm products.
competitor
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Largest listed Thai palm oil producer (SET: UVAN); Krabi integrated plantation, mill, refinery; RSPO-certified.
competitor
Chumporn Palm Oil Industry
Listed mid-scale Thai palm oil producer (SET: CPI); Chumphon integrated plantation, mill, refined products.