Price of palm fruit rises, consumers fear price of palm oil might increase

[webfact]

Price of palm fruit rises, consumers fear price of palm oil might increase

 

   

BANGKOK (NNT) - The price of palm fruit has risen over seven baht per kilogram, rendering a higher income for oil palm farmers after a long period of low prices. Due to the increased price of the palm fruit, the raw palm oil is currently selling for 39 baht per kilogram, compared to 22-23 baht per kilogram on the world market, thus prompting rumors that the government might allow imports of raw palm oil.

 

Internal Trade Department Director Genera Whichai Phochanakij, has categorically dismissed the rumors, saying those who may have circulated such news would be looking to depress the price of palm fruit grown by the farmers. He said all relevant measures are to be considered by the National Policy Committee for Oil Palm. Legal action would be taken immediately against those who sow such rumors online.

 

The director general of the Internal Trade Department said the price of palm oil or cooking oil in bottles might rise for a short period of time due to the increased price of the raw material. He said such a price rise will definitely not cause any shortage in supply in the country. The private sector has been advised to sell the palm oil or cooking oil for a maximum of 42 baht a bottle. He said the price of the palm fruit will drop due to an increase in its volume next month.

 

-- © Copyright NNT 2020-01-20

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[Chrysaora]

If Palm Oil goes up in price, how will I afford to ... eh ... well, you know .... oh, it's not that kind of PALM oil.  My bad.

[Assurancetourix]

It will last some time ...
The time that the farmers rush on the cultivation of oil palms as they did with the heveas of the time when the kg of raw sap was bought at around 80 baht .. (today it is less than 20 baht)
Result, overproduction and sudden drop in the purchase price.

[beavenlen]

somebody needs to check the retail outlets where palm oil is being sold at 46 and 48 baht ,also soy oil being reduced to 36 / 38baht

[Srikcir]

The irony to the price increase is that in part it might be due to Egat deciding to use palm oil in its power plants; thereby reducing the oversupply of palm oil in the domestic market.

https://www.egat.co.th/en/news-announcement/news-release/egat-applies-palm-oil-for-power-generation-in-response-to-the-government-s-policy-to-help-farmers

 

[trainman34014]

World demand for Palm Oil is falling and prices will surely fall again soon unless the Thai Government subsidises the Palm Farmers.  The World is a better off place without this muck.

[Thian]

5 hours ago, Assurancetourix said:

Result, overproduction and sudden drop in the purchase price.

Result is that the Indo's/Malaysians are cutting ALL the jungle on Borneo and so to grow more palm oil.

 

And all that started when the West forced us into using it as a biodiesel oil.

[PaoloR]

"World demand for Palm Oil is falling and prices will surely fall again soon unless the Thai Government subsidises the Palm Farmers.  The World is a better off place without this muck. "

 

Another one who has fallen for the  propaganda put out by the Americans.

Nowhere on the North American continent can they grow palm oil so they spend millions trying to denigrate it.

4 X better carbon footprint than any of the oil crops (rape seed, canola etc.)

Higher temperature before breaking down into harmful compounds - which is why McD, KFC etc. use it.

Once planted needs little maintenance (insecticides, fungicides etc.)

Does not need to use energy to re-plant as does not need replanting for 20-30 years.

Also the crop contains palm seed oil - a major ingredient for pharmaceuticals and cosmetics.

 

Altogether a better, cheaper and more sustainable product than other oil crops.

 

Downside:

Certain countries - particularly Indonesia and some South American nations are destroying primary rainforest to grow this crop.

This is not the case in Thailand or Malaysia where there are controls over where you are allowed to remove primary rainforest.

Here in Thailand the labour intensive rubber farms are being re-planted with oil palms with no environmental damage incurred.

 

Solution:

Instead of using all this money to lobby and denigrate palm oil, use it to ensure that palm oil is only bought from ethical and sustainable countries/farms.

If the world stops using palm oil there is currently no substitute available at anything approaching the same cost or the same performance. Will the American people be happy when their Freedom Fries go up in price and contain harmful compounds?

[fasteddie]

Personally I avoid buying palm oil products as much as I can, it's in so many things including all my favourite chocolate. I have seen the devastation it causes especially in Malaysia which has changed beyond belief since my 1st jungle trekking days in '66, and what is happening in now in Borneo and Sumatra is heartbreaking.

[impulse]

This article seems to explain the discrepancy in a previous article which stated the price of palm oil was 7 baht per kg.  It appears to be the price for the fruit, not the processed oil as indicated by the previous article.