BANGKOK, 16 April 2019 (NNT) -The Department of Internal Trade has assured that the agency will take measures to bolster the lowered price of oil palm to a range of 3.20 baht to 3.50 baht per kilogram.
Department of Internal Trade Director General Wichai Phochanakit said the Ministry of Commerce has proposed measures to address the lowered oil palm prices which have considerably troubled the oil palm growers.
The ad hoc subcommittee for the administration of the domestic oil palm prices adjustment, which he chairs, has taken the integrated, continual measures under which the Electricity Generating Authority of Thailand will buy 160,000 tons of raw palm oil from designated areas within April 20 in order to bolster the palm prices as demanded by the palm growers.
The director general said he believed such measures will reduce the raw palm oil, currently amounting to 370,000 tons in stock, to no more than 200,000 tons, which is less than usual in previous years, and bolster the selling price of the oil palm to a range of 3.20 and 3.50 baht per kilogram in favor of the palm growers.
