AreaThailand

Commodity GroupOilseeds, oils and meals

CommodityPalm oil

Date01/05/2020

Policy CategoryConsumption and marketing

Policy InstrumentMarket regulation

DescriptionEngaged with the country’s 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.

NotesTHAILAND – market regulation (palm oil): Thailand’s Energy Ministry held discussions with the country’s 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.