InfoQuest, (February 13, 2020) -- The cabinet approved the budget of 372.51 million baht for the palm oil volume measuring equipment project to be implemented by the Ministry of Commerce, according to Ms. Rachada Thanadirek, deputy government spokeswoman. The move aims to enable government agencies to effectively manage and control palm oil stocks and to use relevant information to further develop appropriate policies.
"The project will commission private companies with expertise to install real-time palm oil measuring devices in a total of 455 palm oil storage tanks with a single volume of more than 1,000 tons at palm oil refineries, biodiesel plants and storage warehouses. The construction period of the project shall be six months from the date of contract signing," said Ms. Rachada.
The palm oil monitoring system consists of three parts: 1) The oil volume measurement system, including the device to measure the level and density of the oil in the storage tank, and the temperature measurement device for checking the temperature difference to calculate the oil volume. 2) Data processing and signal transmission system, which is responsible for collecting measurement data and sending the data to the central system to display the current value remains at "normal", "alarming" or "dangerous" level in real time. 3) The database system and the central processing software, which are responsible for processing the oil volume data of each tank, and can give orders to the oil volume measurement system at any time.
The budget for the project reaches up to 372.51 million baht. According to the actual situation, it will be allocated from the central budget for fiscal year 2019 or fiscal year 2020, which is divided into: the investment budget and equipment cost fund (368.54 million baht) and the operating budget (3.96 million baht).
Ms. Rachada said the benefits of the project include: 1) An accurate monitoring and tracking system for palm oil volume is established. 2) Tools to monitor and prevent palm oil import smuggling through abnormal inventory data are obtained. 3) It will also be able to stabilize the price of palm oil in the whole system.
The prime minister ordered the private sector and enterprises to take responsibility for the next phase of the project.
Source: InfoQuest, by Kasamarporn Kittisamphan / Tanawat / Rachada, translated by Xinhua Silk Road
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