Palm oil panel to consider import of 50,000 tons on 1 Feb

BANGKOK, 26 January 2011 (NNT) – Deputy Prime Minister for Security Affairs Suthep Thaugsuban is prepared to confer with the National Palm Oil Policy Committee on 1 February about an import of 50,000 tons of palm oil.

As the Chairman of the National Palm Oil Policy Committee, Mr Suthep said the meeting would be convened on 1 February at 14.00 hrs with the main agenda to study the Commerce Ministry’s proposal for an increase in palm oil import from 30,000 tons to 50,000 tons. Among the attendants will be Deputy Prime Minister for Economic Affairs Trairong Suwannakhiri, Commerce Minister Pornthiva Nakasai and Energy Minister Wannarat Channukul.

Mr Suthep attributed this year’s severe shrinkage in the production of palm oil to the volatile weather. As opposed to the usual amount of 120,000-130,000 tons in stock, there are currently only 60,000-70,000 tons, inevitably resulting in a sharp price rise. Therefore, the palm oil panel needs to look into the import increase demanded by the private sector to see if it would be effective in solving the shortage problem in the country.