BANGKOK, Jan 19 — Thailand's National Oil Palm Policy Committee, chaired by Deputy Prime Minister Prawit Wongsuwon, has given the green light to importing 50,000 tonnes of palm oil to solve the problem of insufficient supply here.
The committee agreed to permit the Public Warehouse Organisation (PWO) to import the palm oil in the shortest and quickest time, by mid-February, and for the PWO to set the price for palm oil at 42 baht a bottle.
It also said that quickly importing a small amount of oil for the short term would not disrupt domestic productions and asked palm farmers not to worry about the issue.
Meanwhile, the Office of Agricultural Economics reported that production of palm oil has dwindled due to the drought in 2013 and that not meeting domestic demand prompted the price rise of raw palm and palm since November, which has continued to rise. (MCOT online news)
