Govt accused of fixing agenda of meeting on palm price guarantee

[webfact]

Govt accused of fixing agenda of meeting on palm price guarantee

By The Nation

 

 

A meeting to discuss the palm price guarantee scheme failed as the government had already fixed the agenda, Sittiporn Jariyapong, vice-chairman of the National Farmers Council, said.

 

The guaranteed price was fixed at Bt4 per kilogram but the government has said it will compensate based on the average price of the last 45 days.

 

Sittiporn argued that the price needed to be higher, as supplies are lower and global palm prices have increased. Even though a short-term buoyancy was necessary, he disagreed with the government’s plan to separate the market price and the guaranteed price.

 

The key factor is to improve the quality of palms by extracting at least 18 per cent of palm oil to compete with Malaysia and the budget for manpower and fertilizers also must be compensated.

 

In addition, the price needs to correspond to market mechanisms. However, this issue wasn’t mentioned in the meeting, he said.

 

Source: https://www.nationthailand.com/news/30379209

 

-- © Copyright The Nation Thailand 2019-12-09

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[ChrisY1]

I wish all palm oil products would disappear in 2020.....!

[hotchilli]

6 hours ago, webfact said:

The guaranteed price was fixed at Bt4 per kilogram but the government has said it will compensate based on the average price of the last 45 days.

Let the market dictate the price and keep governments out of price fixing or as the like to call it here "subsidies" !