Thailand to control crude palm oil exports, bottled prices starting April 7
- These measures, including the maintenance of energy reserves, will not impact farmers, who will continue to be protected by the government
BANGKOK: Thailand’s Commerce Ministry said on Monday that it will tighten crude palm oil exports and control bottled palm oil prices starting from April 7, with biodiesel demand rising because of soaring global fuel prices driven by the Middle East conflict.
These measures, including the maintenance of energy reserves, will not impact farmers, who will continue to be protected by the government, the ministry said.
Thailand, the world’s third-largest palm oil producer, is projected to produce 21.87 million tons of palm oil and 3.94 million tons of crude palm oil in 2026, according to the Office of Agricultural Economics.
Under an order published in the Royal Gazette on Sunday, Thailand has tightened controls on crude palm oil exports, requiring exporters to seek government approval before shipping the commodity abroad.
The measure takes effect on Tuesday and will remain in force for one year.
The permit control order, dated April 3 and signed by the director-general of the Internal Trade Department under the Commerce Ministry, requires exporters to provide details including the destination country, export volume, and the price at which the commodity will be sold.
Exporters must submit an invoice to the authorities within three days of shipment, with each permit granted under the order valid only for 30 days, the order stated.
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