Thai government looking at B10 for 2020 and other measures to further boost palm oil prices

In Thailand, the Vietnam News Agency reports that the Thai government is looking to boost biodiesel blending to 10% as of January 1, 2020 in an effort to boost palm oil prices that fell to a 20-year low in April and hasn’t recovered very far. The Thai cabinet already approved a $1.93 billion package to crease a price guarantee program and provide subsidies for both rice and oil palm, but it’s not seen as enough. Anti-smuggling measures will be implemented as well as a mandate for the national utility to use palm oil as feedstock for electricity production.