Thailand to order utility to buy 200,000 cu m more palm oil for electricity production

In Thailand, the Bangkok Post reports that as part of its continued effort to boost consumption of palm oil and thereby improve prices for the all-important commodity, the government plans to order the state-owned utility to buy 200,000 cubic meters of palm oil for electricity production spread out evenly on a quarterly basis over a year. The proposal was out to the cabinet earlier this week. A first tranche of 160,000 tons was already completed by the utility during a previous auction.

Category: Fuels