Thailand To Undertake Comprehensive Reform Of Palm Oil Industry

By Mohd Haikal Mohd Isa BANGKOK, March 17 (Bernama) -- Thailand will undertake a comprehensive reform of its palm oil industry to increase competitiveness and to be at par with other producers of the commodity, said the Deputy Prime Minister Somkid Jatusripitak. Somkid, who is in charge of economic affairs said, the reforms would involve every level of the industry from farmers, factories and technology. "We cannot compete with Malaysia in terms of (palm oil) quality, so it is time to have a major reform of the entire system. "Farmers, refineries and factories really need the technology to improve themselves," he told reporters here Wednesday after attending the National Palm Oil Policy Committee meeting. Somkid added that current crude palm oil prices would remain at its current level for another four to five years. -- BERNAMA