ID :
156180
Thu, 01/06/2011 - 17:52
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Shortlink :
http://m.oananews.org//node/156180
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Thai authorities nod for imports of palm oil
BANGKOK, Jan 6 (TNA) - Thailand's National Palm Oil Policy Committee, headed by Deputy Prime Minister Suthep Thaugsuban, gave the green light on Thursday (Jan 6) for the Public Warehouse Organization (PWO) to import up to 30,000 tons of semi-refined palm oil from Malaysia within this month to relieve shortages of the product in the country, where some 40,000-50,000 tons of palm oil are now needed to fill its normal stock of 120,000-150,000 tons.
The price of palm oil in Malaysia now stands at 38 baht a kilogram. If the costs of transport and processing are included, the cost of the imported palm oil should be around 50 baht a kilogram.
Tomorrow the Thai Ministry of Commerce will convene its sub-committee supervising vegetable oil for domestic consumption--at which a proposed price rise of bottled palm oil from 38 baht to 47 baht per bottle will be discussed.
Thailand is expected to produce about 1.5-1.6 million tons of palm nuts this year, higher than last year’s yield of 1.4 million tons. The palm nuts which exceed domestic demand can be used to produce bio-diesel.
Meanwhile, Thai Energy Minister Wannarat Channukul said that his ministry would promote palm plantations to replace deserted orange orchards in Rangsit area to support the production of the alternative fuel, noting that his ministry will spend some 700 million baht from its energy-saving fund to provide soft loans to local farmers through the Bank for Agriculture and Agricultural Cooperatives or BAAC to facilitate the expanded palm plantation project. (TNA)
The price of palm oil in Malaysia now stands at 38 baht a kilogram. If the costs of transport and processing are included, the cost of the imported palm oil should be around 50 baht a kilogram.
Tomorrow the Thai Ministry of Commerce will convene its sub-committee supervising vegetable oil for domestic consumption--at which a proposed price rise of bottled palm oil from 38 baht to 47 baht per bottle will be discussed.
Thailand is expected to produce about 1.5-1.6 million tons of palm nuts this year, higher than last year’s yield of 1.4 million tons. The palm nuts which exceed domestic demand can be used to produce bio-diesel.
Meanwhile, Thai Energy Minister Wannarat Channukul said that his ministry would promote palm plantations to replace deserted orange orchards in Rangsit area to support the production of the alternative fuel, noting that his ministry will spend some 700 million baht from its energy-saving fund to provide soft loans to local farmers through the Bank for Agriculture and Agricultural Cooperatives or BAAC to facilitate the expanded palm plantation project. (TNA)
