Post by account_disabled on Dec 26, 2023 10:36:03 GMT
The Ministry of Energy brings in PTT to join in pilot testing Blockchain for buying and selling refined palm oil (B100). If successful, Will expand cooperation with all oil traders. This will help solve the problem of suppressing the price of palm oil products. and the smuggling of crude palm oil (CPO) in order to profit from the price difference. Mr. Sontirat Sonthijirawong, Minister of Energy, revealed that on May 29, 2020, the Ministry of Energy will discuss with PTT Company. Public Company Limited in order to prepare for the trial of the network system for keeping online transaction accounts or Blockchain, which is a system developed by the Federation of Thai Industries (F.T.I.) in order to bring Let's take care of the whole palm oil trading system in the future.
The trading price will be based on the price of crude palm oil (CPO) and this price will be consistent with the price of B100 and will make the price of palm bunches that palm farmers receive a more reasonable price. The Telegram Number Data Department of Energy Business will determine the CPO price. Which is determined by the price that allows the market mechanism to continue. It is confirmed that no law will be enacted. But it will use the method of requesting cooperation for oil traders, Section 7, to purchase B100 oil only from entrepreneurs in the Blockchain system for discussions with producers of refined palm oil (B100) today (28 May 2020). Ministry of Energy The goal is to provide all palm oil entrepreneurs and palm farmers in the country. Enter the Blockchain system by 2020, which will help solve the problem of underpricing of palm products and prevent illegal imports. Crude palm oil (CPO) is sold to the B100 factory.
In order to profit from the price difference, within 2 weeks, the Ministry of Energy will begin piloting a palm oil trading project through the Blockchain system together with B100 factory operators, palm oil mills. , oil traders and palm farmers. B100 factories that are ready will be selected to join the project first. Especially the B100 factory that has its own palm oil mill. It is expected that it will take 1 month to test before expanding the results to the entire oil palm chain to use Blockchain. Mr. Sanin Triyanon, President of the Thai Biodiesel Producers Association, said that at present the price of palm fruit bunches It is at 3.90 - 4 baht per kilogram and crude palm oil (CPO) is at 22 baht per kilogram.
The trading price will be based on the price of crude palm oil (CPO) and this price will be consistent with the price of B100 and will make the price of palm bunches that palm farmers receive a more reasonable price. The Telegram Number Data Department of Energy Business will determine the CPO price. Which is determined by the price that allows the market mechanism to continue. It is confirmed that no law will be enacted. But it will use the method of requesting cooperation for oil traders, Section 7, to purchase B100 oil only from entrepreneurs in the Blockchain system for discussions with producers of refined palm oil (B100) today (28 May 2020). Ministry of Energy The goal is to provide all palm oil entrepreneurs and palm farmers in the country. Enter the Blockchain system by 2020, which will help solve the problem of underpricing of palm products and prevent illegal imports. Crude palm oil (CPO) is sold to the B100 factory.
In order to profit from the price difference, within 2 weeks, the Ministry of Energy will begin piloting a palm oil trading project through the Blockchain system together with B100 factory operators, palm oil mills. , oil traders and palm farmers. B100 factories that are ready will be selected to join the project first. Especially the B100 factory that has its own palm oil mill. It is expected that it will take 1 month to test before expanding the results to the entire oil palm chain to use Blockchain. Mr. Sanin Triyanon, President of the Thai Biodiesel Producers Association, said that at present the price of palm fruit bunches It is at 3.90 - 4 baht per kilogram and crude palm oil (CPO) is at 22 baht per kilogram.