InfoQuest, (May 25, 2019) -- Mr. Thawatchai Chakphaisan, deputy governor of the Electricity Generating Authority of Thailand (EGAT), revealed the progress made in purchasing crude palm oil. According to the list of the Ministry of Commerce, the EGAT invited 149 crude palm oil refineries to compete for the bidding of purchase plan for another 54,700 tons of crude palm oil. Then, refineries will be required to quote prices according to the quantity they have the right to sell on May 28, 2019. The list of factories winning the bidding will be published on May 29, and the purchase agreement for crude palm oil will be signed on May 31.
The price of crude palm oil sold by refineries shall not exceed the middle price of 16.50 baht stipulated by the Department of Internal Trade (DIT). When refineries transported the crude palm oil to the warehouses in Surat Thani Province, the EGAT shall check the oil. When it confirmed there is no problem with the oil, the EGAT will complete the payment within seven working days Among the refineries winning the bidding for the first round of crude palm oil purchase plan, they can participate in this round of bidding, given that there is still stockpile after meeting the crude palm oil quantity stipulated in the contracts signed in the first round of purchase plan.
On May 17, a total of 15 bidders were approved qualified, with 45,300 tons of crude palm oil. On May 22, the EGAT has signed purchase contracts with eight of them. The EGAT plans to accomplish signing contracts with all the 15 refineries and deliver crude palm oil to the warehouses in Surat Thani Province since May 28.
Source: InfoQuest, by Wilawan Pongpitak / Rachada / Kasamarporn, translated by Xinhua Silk Road
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A single purchase
