BANGKOK, May 15 (TNA) – Prime Minister Prayut Chan-o-cha is determined to solve low palm prices to help farmers and solutions included the government’s measures to reduce local palm oil stocks.
Assistant government spokesman Werachon Sukondhapatipak said Gen Prayut seriously discussed solutions to low palm prices in the cabinet’s meeting. He inquired about assistance for palm growers and the effect of measures to absorb raw palm oil from local markets that started on May 7.
The Commerce Ministry described that the local stock of raw palm oil amounted to 208,000 tons and the Electricity Generating Authority of Thailand would buy 100,000 tons of raw palm oil in May and 5,000 more tons a month afterwards and use the oil for its electricity generation. Besides, the prime minister ordered concerned organizations to stop smuggled palm oil, Lt Gen Werachon said.
Meanwhile, the Energy Ministry told the cabinet meeting that trucks, buses and pickup trucks of all brands, except European ones, could use B20 diesel and the ministry was promoting the use of B20 diesel to reduce palm oil supplies.
The Energy Ministry could absorb 2 million tons of palm oil a year while the country produced 3 million tons of palm oil yearly and people consumed 1 million tons of it annually.
Local palm oil stocks would be used up in three months and the price of raw palm oil would rise then, Lt Gen Werachon said (TNA)
