BANGKOK, 28 July 2012 – The National Palm Oil Policy Committee has resolved to green light the import of more palm oil by next month.
Secretary-General of the Office of Agricultural Economics Apichart Jongskul said that the National Palm Oil Policy Committee meeting, chaired by Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong, resolved to approve the import of 30,000 tons of crude palm oil by the Public Warehouse Organization.
Mr. Apichart said that the import is imminent as there is only 130,000 tons of palm oil supply in the state stock, the level significantly lower than the mandatory quantity of 200,000 tons.
The National Palm Oil Policy Committee meeting has instructed the Public Warehouse Organization to make the import by August.
According to Mr. Apichart, the Energy Ministry is planning to promote the use of bio-diesel B3.5 to help lower the crude palm oil use by 15,000 tons a month.
The Secretary-General of the Office of Agricultural Economics said that the government’s palm oil supply has dwindled because of lower domestic production, likely caused by the volatile weather conditions in the country.
He believes that the situation around the palm oil supply will improve during the months of August and September.
