MARKET DEVELOPMENT
DIT Insists There Are No Palm Oil Imports From Malaysia
DIT Insists There Are No Palm Oil Imports From Malaysia
18/03/2014 (NTT) -The Director-General of the Department of Internal Trade (DIT), Somchat Soithong has revealed that news, headlining approval by the Ministry of Commerce, to import 20,000 tonnes of crude palm oil from Malaysia is false. He gave an assurance that there has been no such approval to import Malaysian crude palm oil.
The market price of palm oil has steadily increased due to low supply in the market. However, the Ministry of Agriculture and Cooperatives said 190,000 tonnes of palm oil will be in the market in March with another 240,000 tonnes expected in April-June. Market price of crude palm oil is 5.30-5.50 baht/kg.
Meanwhile, the DIT is asking for cooperation from the Ministry of Energy to reduce consumption of bio-diesel B7, and temporarily use bio-diesel B4 instead.
The market price of palm oil has steadily increased due to low supply in the market. However, the Ministry of Agriculture and Cooperatives said 190,000 tonnes of palm oil will be in the market in March with another 240,000 tonnes expected in April-June. Market price of crude palm oil is 5.30-5.50 baht/kg.
Meanwhile, the DIT is asking for cooperation from the Ministry of Energy to reduce consumption of bio-diesel B7, and temporarily use bio-diesel B4 instead.