The Thai government is making efforts to sell some of its domestic supply of raw palm nuts and crude palm oil to ease its current high stock of 400,000 tonnes of oil, compared to the normal level of 250,000 tonnes.
Bangkok (VNA) – The Thai government is making efforts to sell some of its domesticsupply of raw palm nuts and crude palm oil to ease its current high stock of400,000 tonnes of oil, compared to the normal level of 250,000 tonnes.
Earlierthis month, the National Oil Palm Policy Committee, chaired by Deputy PrimeMinister Prawit Wongsuwon, approved a proposal to purchase 200,000 tonnes ofcrude palm oil by the state-run Electricity Generating Authority of Thailand(Egat).
TheMinistry of Energy is speeding up a plan for Egat’s purchase after it wasacknowledged by the cabinet.
EnergyMinister Siri Jirapongphan said the first batch, totalling 100,000 tonnes,should be obtained within 15 days, with the shipment date expected to fall onMay 20.
He said theremaining 100,000 tonnes will be bought in June and July following a purchasingplan proposed by the Ministry of Commerce.
Egat willuse 45,000-50,000 tonnes of crude palm oil per month for power generation atits Bang Pakong plant in Chachoengsao province. Previously, in April, theagency completed the purchase of 160,000 tonnes of crude palm oil for powergeneration.
Accordingto Siri, the cost of power generation at the Bang Pakong plant is higher thanthat of those using natural gas, though generation quality is similar. Thecabinet has ordered Egat to cooperate with the Ministry of Finance to handlethe issue and promote a public agreement because the higher cost will affect consumers.
Thailandcurrently houses 144 warehouses of crude palm oil nationwide. –VNA
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Illustrative photo (Source: think4photop/Shutterstock.com) 
