Palm oil import plan scrapped

AGRICULTURE

Published: 25 May 2012 at 00.00
Newspaper section: Business

The government, bowing to pressure from the private sector, has agreed to scrap a plan to import crude palm olein (CPO) and institute an export surcharge, according to Deputy Prime Minister Kittiratt Na-Ranong.

Industry associations accused the Commerce Ministry of distorting the data on CPO stocks that led to the approval to import 40,000 tonnes of CPO, 10,000 tonnes of which have already been imported.

In an attempt to control the retail price of bottled cooking palm oil at 42 baht a litre, the ministry announced it will also impose a levy of 10 baht a litre on CPO exports.

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bern1005
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Discussion 2 : 25 May 2012 at 15.252
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It is easy to understand the desire of businesses to have "protection" against imported goods, but the reality is that closing off international trade opportunities almost always results in ordinary people having less jobs, less choice and higher prices. Or are all the international free trade agreements just plain stupid?
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nui
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Discussion 1 : 25 May 2012 at 05.471
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I do not understand. Thailand exported 331,000 tons in 2011 but must import 40,000 tons from Malaysia? The government support und pay money to Malaysian farmers instead of helping Thai farmers? Please, economists on this forum, explain this to me. Next is to import rice, because it is cheaper on the world market than local Thai rice? Yeah, OK , now I got it .
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Palm oil import plan scrapped | Bangkok Post: business