This paper proposes a model predictive control scheme to provide temperature set-points to thermostatic controlled cooling units in refrigeration systems. The control problem is formulated as a convex programming problem to minimize the overall operating cost of the system. The foodstuff temperatures are estimated by reduced order observers and evaporation temperature is regulated by an algorithmic suction pressure control scheme. The method is applied to a validated simulation benchmark. The results show that even with the thermostatic control valves, there exists significant potential to reduce the operating cost.