First palm oil purchase contract to be signed tomorrow — Satang.info

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First palm oil purchase contract to be signed tomorrow

First palm oil purchase contract to be signed tomorrow

BANGKOK, 21st May 2019 (NNT) — The Electricity Generating Authority of Thailand is signing the first purchase contract among those for a total of 200,000 tons of palm oil for use in the production of electricity tomorrow. Such purchases will raise the raw palm price by three baht per kilogram in favor of palm growers.

Deputy EGAT Governor for Fuels Thawatchai Chakphaisal said the agency had invited 149 registered palm oil extracting factories to bid for 100,000 tons of raw palm oil on May 16 for a medium price of 16.50 baht per kilogram.

Fifteen extracting factories have submitted bidding documents and qualified to bid for a combined 45,300 tons of raw palm oil for which the purchase contract will be signed tomorrow. The winning factories are obliged to deliver their palm oil within 15 days from the date on which the contracts are signed to warehouses of Surat Thani province beginning on Thursday.

Economics

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