Area
Thailand
Commodity Group
Oilseeds, oils and meals
Commodity
Palm oil
Date
01/05/2020
Policy Category
Consumption and marketing
Policy Instrument
Market regulation
Description
Engaged with the countrys palm oil trade to explore possibilities of applying blockchain technologies along the palm oil supply chain, with a view to i) stabilizing farm gate prices of fresh fruit branches, ii) simplifying palm oil trade by curbing the role of middlemen, and iii) preventing smuggling.
Notes
THAILAND market regulation (palm oil): Thailands Energy Ministry held discussions with the countrys palm oil trade to explore the possibility of applying blockchain technologies along the palm oil supply chain, local media wrote. Reportedly, the proposal is aimed at i) stabilizing farm gate prices of fresh fruit branches, ii) simplifying palm oil trade by curbing the role of middlemen, and iii) preventing smuggling. Adoption of the digital ledger technology would remain voluntary. A first round of trials involving selected biodiesel plant operators is expected to be implemented soon.
