PM Prayut satisfied with higher palm pricing after gov’t measures

[webfact]

PM satisfied with higher palm pricing after gov’t measures

 

   

BANGKOK (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.

 

 

-- © Copyright nnt 2019-06-18

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[fishtank]

I can't believe that anyone still uses palm oil for cooking.

Dreadful stuff.

[geoffbezoz]

2 minutes ago, fishtank said:

I can't believe that anyone still uses palm oil for cooking.

Dreadful stuff.

I think you need to get out more and keep in touch with reality.

[Dexlowe]

14 minutes ago, geoffbezoz said:

I think you need to get out more and keep in touch with reality.

Do you think orang-utans and Sumatran tigers need to get out more as well?

[geoffbezoz]

4 minutes ago, Dexlowe said:

Do you think orang-utans and Sumatran tigers need to get out more as well?

If you can advise me where orang-utans and Sumatran tigers are living in Thailand and are involved with cooking using palm oil I'll check them out and get back to you  ????????????     In the meantime let's stay on topic should we which is about palm oil.

[cornishcarlos]

2 hours ago, webfact said:

resulting in a 3.2-3.5 baht per kilogram selling price

 

He's happy with that ?? Same as he was happy last month with the "increase" in rubber prices ????

It's dropped dramatically over the last few years, a slight upward trend is no cause for celebrations from the trough snufflers !!!

[yellowboat]

They all like to play with economics, though putting it towards the energy sector was a good idea.  The low price made it a reasonable and clean substitute. 

[Srikcir]

What country is not capable of manipulating Domestic agricultural prices through direct government intervention rather than through a free and open on-demand market?

But still good for the related farming enterprises - right?

Ultimately no if one measures material wealth or income.

The problem is that the cost of government to do so can be hidden through the loss of transparency and any unaccountable appurtenant corruption (ie., alleged in Yingluck's rice pledge program or Prayut's rubber buffer stock program; "influential" exemptions). This cost gets funded by default through the Thai treasury and/or budgetary cuts (typically in social programs).

[PaoloR]

5 hours ago, fishtank said:

I can't believe that anyone still uses palm oil for cooking.

Dreadful stuff.

Another idiot that believes the disinformation put out by the farmers lobby in the USA.

They cannot grow palm oil in the USA, however, they remain a major user as it is one of the best oils for deep frying. It is by far the best oil crop for removing CO2 having a great carbon foot-print and requiring no energy for re-planting costs except every 25 years.

Yes it is bad to destroy primary jungle to grow it (as they do in Indonesia) but show me where they do so in Thailand.

View the available factual information online, not the US propaganda.

[observer90210]

Do not mean to spoil the party, but many EU nations are following the green trend and calling to boycott palm oil due to the the ecological disaster it allegedly causes....don't ask me why or what,.... we just hear it regularly on the news here.

[billd766]

6 hours ago, fishtank said:

I can't believe that anyone still uses palm oil for cooking.

Dreadful stuff.

I use it and I also use pork dripping for cooking as well.

[monkfish]

22 minutes ago, observer90210 said:

Do not mean to spoil the party, but many EU nations are following the green trend and calling to boycott palm oil due to the the ecological disaster it allegedly causes....don't ask me why or what,.... we just hear it regularly on the news here.

Maybe the EU needs to replant it's own Forests cut down to plant crops so Boycott those products as well. ahah

[Krataiboy]

Gives the political greasing of palms a whole new meaning.

[SOUTHERNSTAR]

Its just another form of Trumps trade war. Make all producers of palm oil look like evil Tiger pup killers, slap high import duties or a ban on it and consumers are forced to buy much more expensive local oils. The ecological effect of European farming over the last 200 years has been far worse than palm oil, have a look at how many European species have sied out over the last 200 years due to uncontolled farming expansion.

Do not mean to spoil the party, but many EU nations are following the green trend and calling to boycott palm oil due to the the ecological disaster it allegedly causes....don't ask me why or what,.... we just hear it regularly on the news here.

Sent from my SM-A730F using Thailand Forum - Thaivisa mobile app

[observer90210]

14 minutes ago, SOUTHERNSTAR said:

Its just another form of Trumps trade war. Make all producers of palm oil look like evil Tiger pup killers, slap high import duties or a ban on it and consumers are forced to buy much more expensive local oils. The ecological effect of European farming over the last 200 years has been far worse than palm oil, have a look at how many European species have sied out over the last 200 years due to uncontolled farming expansion.

 

Sent from my SM-A730F using Thailand Forum - Thaivisa mobile app
 

 

you are so true...just like global warming...it just does not really exist...

[chama]

10 hours ago, yellowboat said:

They all like to play with economics, though putting it towards the energy sector was a good idea.  The low price made it a reasonable and clean substitute. 

True, and with the other options available for palm oil when cooking capitalism would dictate that users could opt for other oils if the pricing bothered them.

[MaxYakov]

8 hours ago, chama said:

True, and with the other options available for palm oil when cooking capitalism would dictate that users could opt for other oils if the pricing bothered them.

I believe you meant "free market" vs "capitalism" - Ref. Article HERE.

 

When a/the government gets involved in setting prices, all bets are off w/r a free market. Somehow the General thought the price of palm oil was "distorted".

 

Of course, the government's actions will "un-distort" it. /sarc

 

 

 

Edited June 18, 2019 by MaxYakov

[Redline]

Can’t compete in the real world again ????