Planters call for government intervention in plunging palm oil price


CHUMPHON, Dec 7 – Oil palm planters in Thailand’s southern provinces have threatened to protest if the government fails to help boost the price of palm oil, which has dropped to Bt2.90 per kg, its lowest in seven years.

Planters in Chumphon, Surat Thani and Krabi are upset at the declining price for palm oil, and have called on the government to buy their produce at not less than Bt4.50 per kg.

Chumphon Oil Palm Planters Association president Sanya Pansevi said the association urges the government to intervene through the Agriculture Institute to maintain the price of palm oil and create a palm oil stocking system to enhance the private sector’s existing system.

The sector is also urgently promoting the use of B5 and B7 biodiesel which will consequently boost palm oil consumption.