Govt to release 100,000 tonnes of palm oil
Commerce Minister Boonsong Teriyapirom has revealed five strategies for releasing 100,000 tonnes of crude palm oil from government stocks to shore up the market price of the commodity, after he met with a ministry sub-committee for palm-oil management.
First, 10,000 tonnes of bottled palm oil will be produced by refineries and sold under the ministry's low-price Blue Flag programme. Another 50,000 tonnes will be used for the production of bio-diesel and gasohol.
Another 10,000 tonnes each will be used in power plants and in industries such as agricultural machinery and fishing boats. The remaining 10,000 tonnes of crude palm oil will be for export.