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Higher palm pricing reached after government measures

“It is expected fresh palm fruit pricing may reach 4 baht per kilogram pending on an increase in B10 and B20 biodiesel consumption

National News Bureau of Thailand

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PM satisfied with higher palm pricing after gov’t measures

BANGKOK, 17 June 2019 (NNT) – The Prime Minister is satisfied with higher palm fruit pricing resulting from government measures, urging the private sector to price palm oil so as to reflect farmers actual costs and prevent market distortions.

Deputy Government Spokesperson Lt Gen Werachon Sukondhapatipak disclosed today that Prime Minister Gen Prayut Chan-o-cha is satisfied with the rise in price of fresh palm fruit by 1.8 baht per kilogram, resulting in a 3.2-3.5 baht per kilogram selling price, and the adjustment of crude palm oil pricing from 15 to 20 baht, both of which result from government measures such as the use of crude palm oil for electricity generation, and the promotion of B20 biodiesel for usage in large trucks,

“It is expected fresh palm fruit pricing may reach 4 baht per kilogram pending on an increase in B10 and B20 biodiesel consumption, while the quantity of crude palm oil in-stock has declined from 400,000 to 300,000 tons, which is much closer to the 250,000 ton target.”

On the decision by some shopping malls to increase the retail price of cooking palm oil by 10 baht per bottle claiming it was the policy of the Department of Internal Trade, the deputy government spokesman said the government is only asking retailers to adjust retail pricing of palm oil to reflect the actual cost of production, as the sale of this product below the cost price is considered market distortion which will sabotage competitors, and is illegal.

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Thailand’s rice exports hampered by strong baht

Thai rice exports are likely to stay below targets as the strong baht weakens competitiveness in the world market (Photo: Bangkok Post)

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Bangkok (VNA) – Thai rice exports are likely to stay below targets as the strong baht weakens
competitiveness in the world market.

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Palm oil price guaranteed at four baht per kilogram

Commerce Minister Jurin said the price guarantee measure is one of the measures to deal with low palm oil prices. Other measures, such as using biodiesel B10 to produce electricity and tackling palm oil smuggling, have to be implemented

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BANGKOK, 8th August 2019 (NNT) – One of the government’s urgent policies is to help farmers by adopting a minimum income guarantee.

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Thai rice exporters cut target to 9 million tons

National News Bureau of Thailand

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BANGKOK, 25th July 2019 (NNT) – The problem of the baht’s appreciation by five percent since the beginning of the year has affected the export of Thai products especially the price of rice which is higher than that of the country’s rivals. In the first half of this year, Thailand exported 4.36 million tons of rice, down by 19 percent year-on-year.

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