Angry mob burns effigy to protest falling palm oil prices

[snoop1130]

Angry mob burns effigy to protest falling palm oil prices

Kritsada Mueanhawong

 

 

KRABI:-- An angry mob of more than 100 people gathered outside Krabi Provincial Hall this morning and burned an effigy of the Deputy Director General of the Department of Internal Trade to protest against the falling prices of palm oil.

Members of the protest, who had gathered from Krabi and nearby provinces, including Trang, Phanag Nga, Chumphon, Ranong, Surat Thani and Nakhon Sri Thammrat, were led by Chayodom Suwanwattana. 

The group 'demanded' that Prime Minister Gen Prayuth Chan-o-Cha, as well as the Ministries of Commerce, Industry, Agriculture and Energy, come to their aid.

 

Full Story: http://www.phuketgazette.net/phuket-news/Angry-mob-burns-effigy-protest-falling-palm/66748?desktopversion#ad-image-0

 

-- © Copyright Phuket Gazette 2017-7-5

[Just1Voice]

Apparently no one has every explained the law of Supply and Demand.  An oversupply means no demand.  No demand means prices fall.  If you are depending only on Palm Oil for your income, and there is no demand, you're screwed. Sorry, folks, but that's life. 

 

[Kasset Tak]

1 hour ago, Just1Voice said:

Apparently no one has every explained the law of Supply and Demand.  An oversupply means no demand.  No demand means prices fall.  If you are depending only on Palm Oil for your income, and there is no demand, you're screwed. Sorry, folks, but that's life. 

 

Its the same thing over and over again.
when farmer A earn a lot 1 year then farmer B and C follow and plant the same the following year... then comes farmer D, E, F, G, H and I the 2nd year and the 3rd year its farmer A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y and Z  growing the same crop that 3 years earlier was working well for farmer A when he was the only one growing it.... that is sadly how/why so many businesses fails here in Thailand.

[ChrisY1]

Best that can happen if Palm oil becomes redundant.....a dreadful product, exploited by ruthless, grubby toe-rags and ruining forests and habitat everywhere!

I try never to use anything that uses this insidious oil.....!

[clockman]

Remember when Suthep, was the palm oil scam merchant?

[fullcave]

10 hours ago, Just1Voice said:

Apparently no one has every explained the law of Supply and Demand.  An oversupply means no demand.  No demand means prices fall.  If you are depending only on Palm Oil for your income, and there is no demand, you're screwed. Sorry, folks, but that's life. 

 

The regime should subsidize their stupidity. It's only fair.  

[Emster23]

Maybe they can team up with coal miners

[BuaBS]

5 hours ago, ChrisY1 said:

Best that can happen if Palm oil becomes redundant.....a dreadful product, exploited by ruthless, grubby toe-rags and ruining forests and habitat everywhere!

I try never to use anything that uses this insidious oil.....!

It's hard not to use it : It's in soaps , in the bad Thai diesel ,....

I wonder if they are protesting in other countries where (too much) palmoil is produced like Sumatra.

[thaiguzzi]

12 hours ago, Kasset Tak said:

Its the same thing over and over again.
when farmer A earn a lot 1 year then farmer B and C follow and plant the same the following year... then comes farmer D, E, F, G, H and I the 2nd year and the 3rd year its farmer A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y and Z  growing the same crop that 3 years earlier was working well for farmer A when he was the only one growing it.... that is sadly how/why so many businesses fails here in Thailand.

Er, except it takes 4 years proper from planting a palm oil tree to earning the first income.

Rubber trees 7 years if done properly.

A lot of time and money invested in those years prior to earning.

So it's a long term investment, not a crop you can change from one year to the next.

[rickudon]

Come on Rice farmers, start protesting before you get left out! Oh, and cassava, pineapples ........ what's next? Durian surfeit?

[Redline]

I've been trying to burn Mr. Capitalism for a long time.  Unfortunately, when you turn around, there he is!

[Dino 308]

The rest of the world knows since a couple of months that palm oil contains cancerogenous substances as a result of the very high temperatures used in the manufacturing.

Products like Nutella etc are withdrawn from the shelves in the west. WAKE UP THAILAND knowledge always beats stupidity.

Grow olives instead, better prices and 100% safe oil….

[Gulfsailor]

9 hours ago, ChrisY1 said:

Best that can happen if Palm oil becomes redundant.....a dreadful product, exploited by ruthless, grubby toe-rags and ruining forests and habitat everywhere!

I try never to use anything that uses this insidious oil.....!

The reason why palm oil is ruining forests and habitats is that it has a very high yield, thus is very popular and economic. No other animal or vegetable oil comes close to the amount of palm oil extracted per hectare of land. In that respect it's actually the best source of oil for environmental reasons. If palm oil was replaced by olive, rapeseed, sunflower and others, 5 to 10 times more land would be needed to meet demand. 

Edited July 6, 2017 by Gulfsailor

[impulse]

23 hours ago, thaiguzzi said:

Er, except it takes 4 years proper from planting a palm oil tree to earning the first income.

Rubber trees 7 years if done properly.

A lot of time and money invested in those years prior to earning.

So it's a long term investment, not a crop you can change from one year to the next.

 

Add to that ill advised government programs to encourage too many farmers to pile into a given commodity, and there's economic disaster after economic disaster being created.

 

Out of curiosity, is there a functional futures market for palm oil available to Thai farmers to either lock in their earnings, or decide that the life cycle risk is too great to pile into the madness?

 

[Dobredin Ghusputin]

They should burn more effigies, but do remember to use palm oil until demand exceeds supply.

[thaiguzzi]

21 minutes ago, impulse said:

 

Add to that ill advised government programs to encourage too many farmers to pile into a given commodity, and there's economic disaster after economic disaster being created.

 

Out of curiosity, is there a functional futures market for palm oil available to Thai farmers to either lock in their earnings, or decide that the life cycle risk is too great to pile into the madness?

 

Sorry no idea. I'm a rubber man myself.

[impulse]

51 minutes ago, thaiguzzi said:

Sorry no idea. I'm a rubber man myself.

 

Is there a functional futures market for rubber available to farmers in Thailand?  

 

Seems to me like there should be, given the long time between deciding to plant rubber trees and the first harvest.  

 

Being an oil and gas man myself, I'm not a big fan of the speculative nature of the big commodities markets (where there are probably 10-20 x as many contracts as physical barrels), but it sure is nice to be able to lock in a price that insures we can pay out multi-million dollar investments that won't see oil into the pipeline for several years.

 

 

 

[thaiguzzi]

1 hour ago, impulse said:

 

Is there a functional futures market for rubber available to farmers in Thailand?  

 

Seems to me like there should be, given the long time between deciding to plant rubber trees and the first harvest.  

 

Being an oil and gas man myself, I'm not a big fan of the speculative nature of the big commodities markets (where there are probably 10-20 x as many contracts as physical barrels), but it sure is nice to be able to lock in a price that insures we can pay out multi-million dollar investments that won't see oil into the pipeline for several years.

 

 

 

I'm not genned up at all about stock markets, brokers, speculators (bastards) or futures.

However, both rubber and palm oil (i presume) are traded on the stock markets as commodities. The price for rubber is set in BKK and Songkla and based on the Tokyo, Singapore and Shanghai stock markets and whatever the bastards (men in suits) decide what game to play on any given weekday. Up. Down. Buy. Sell.

[GOLDBUGGY]

Let's see if I got this right.

 

Palm Oil Prices Low. Pineapples rotting on trees as it isn't worth picking to sell. Rubber Prices low and Farmers wanting the government to use that in road construction to help bring up the demand. Rice Prices at a all time Decades Low. Sugarcane doing alright last year, but with everyone growing that this year, who knows. Cassava is just Cassava and never does great. 

 

Looks like a pretty bad year ahead for Famers here.  Hoe prices come up soon.