Bangkok: Thanakorn Wangboonkongchana, the former Minister to the Prime Minister's Office and Deputy Leader of the Ruam Thai Sang Chart Party (RTSP), has called on the government and the Ministry of Agriculture and Cooperatives to urgently address the plummeting prices of palm oil, which have reached their lowest level in several years. He emphasized the need for immediate measures to support farmers and suggested that the solution should include preventing the smuggling of palm oil.
According to Thai News Agency, Thanakorn highlighted the severe impact of the price drop on palm oil farmers, particularly in the southern region, where prices have fallen to 3.50-3.80 baht per kilogram-below the target price. This situation has exacerbated the financial difficulties for farmers who are already struggling with high production costs, including labor, fertilizer, and transportation expenses. In response, palm oil farmers have organized to present their concerns to the Ministry of Agriculture and Cooperatives, as well as the Ministries of Commerce and Industry, urging compliance with ministerial regulations and rules by crude palm oil extraction plants.
Thanakorn also pointed out the necessity for the government to scrutinize the importation of crude palm oil, ensuring that importing companies adhere to legal standards and that corruption is eliminated. He argued that these measures are crucial to addressing the root causes of the low palm oil prices and to achieving a sustainable and efficient Thai palm oil industry.
'I would like to ask the government and relevant ministries to urgently solve the problems for our palm oil farmers who have been severely affected continuously. We must solve the problems in the whole system, starting from the structure, including reducing the relatively high production costs of farmers to create sustainability,' said Mr. Thanakorn.