PWO to propose 100,000 tons palm oil purchase

[webfact]

PWO to propose 100,000 tons palm oil purchase

BANGKOK, 11 May 2016 (NNT) – The Public Warehouse Organization (PWO) is set to propose the purchase of 100,000 tons of palm oil to help farmers during the upcoming high supply of palm oil in the marketplace.

The PWO Board President Pol Maj Gen Kraiboon Suadsong has revealed the PWO will invite owners of palm oil production factories to discuss rations and conditions of the palm oil purchasing scheme to help famers.

The scheme will be proposed by the PWO to the National Palm Oil Policy Committee for purchasing 100,000 tons of raw palm oil in the new harvesting cycle, which will cause a spike in supply of palm oil in the marketplace from June.

The initial condition for this scheme is for the PWO purchase to be made when the price of palm oil falls below 4.2 baht per kilogram. It is expected that this campaign will require a budget of 253 million baht.

The PWO will also purpose amendments to the conditions of this scheme to include famers who are members of the Cooperative Promotion Department, which would allow them sell their produce within the terms of this scheme. There will also be the proposition of designated purchasing zones to ensure all farmers and factory owners receive equal benefits.


-- NNT 2016-05-11

[GiantFan]

Not again.

[Brer Fox]

In other business news France's Casino Group has agreed to sell its Big C Vietnam unit to Thai conglomerate Central Group for 1 billion euros. Central Group, controlled by business family Chirathivat with interests in real estate, department stores and retailing, beat rival Thai tycoon Charoen Sirivadhanabhakdi's TCC Group to win the majority stake in hypermarket operator Big C Vietnam

http://www.thanhniennews.com/business/frances-casino-agrees-to-sell-vietnam-unit-to-thailands-central-61679.html

[JAG]

Not again.

Favours to be repaid don't you know...

[ChrisY1]

It's not so much that they don't learn from past "mistakes"...........patronage must be adhered to

[Emster23]

Rice scheme bad because helped farmers in red heartland. Palm oil scheme good because helps Suthep's buddies. I wonder what shelf life of palm oil is? Less chance of rotting?

[Srikcir]

PWO purchase to be made when the price of palm oil falls below 4.2 baht per kilogram

Last year the PWO purchased 100,000 tons of raw palm oil from oil extracting firms at an estimated 2.89 billion baht. It was suspected that

palm oil might have been smuggled into the country from Malaysia by unscrupulous traders who stood to make a hefty profit by selling them to the PWO because the palm oil price in Malaysia is much cheaper. Expect the same again.

[swerver]

In other business news France's Casino Group has agreed to sell its Big C Vietnam unit to Thai conglomerate Central Group for 1 billion euros. Central Group, controlled by business family Chirathivat with interests in real estate, department stores and retailing, beat rival Thai tycoon Charoen Sirivadhanabhakdi's TCC Group to win the majority stake in hypermarket operator Big C Vietnam

http://www.thanhniennews.com/business/frances-casino-agrees-to-sell-vietnam-unit-to-thailands-central-61679.html

What does this have to do with Palm Oil???

Now that we are on the subject Central Group or Chirathivat family also now owns 49% (major shareholder other 51% owned now by two other Thai families) Thai Big C. and when you take a good look when shopping in BIG C Extra (word Extra was the first to disappear from plastic shopping bags) you can see personnel downgrade/disappear to safe money in progress something Casino Investment said it would not, and did not, do when it bought Carre Four. TIT as Bernard Trink said.

[rubl]

PWO purchase to be made when the price of palm oil falls below 4.2 baht per kilogram

Last year the PWO purchased 100,000 tons of raw palm oil from oil extracting firms at an estimated 2.89 billion baht. It was suspected that

palm oil might have been smuggled into the country from Malaysia by unscrupulous traders who stood to make a hefty profit by selling them to the PWO because the palm oil price in Malaysia is much cheaper. Expect the same again.

You mean we should suspect again or by now you can provide some prove for 'it was suspected'?

BTW who are the 'it' ?