FACTORS AFFECTING THE PALM OIL PRICE IN THAILAND

  • Pichamon Chansuchai Suan Sunandha Rajabhat University, Bangkok
Keywords: Palm oil, Bio-Diesel, Energy, factors, Soybean oil

Abstract

The paper studied the Factors Affecting the Palm Oil Price in Thailand. The purposes is to study structure factors of production and price of palm oil in Thailand and to find ways to enhance the productivity and cultivated area for palm oil in Thailand. This was a mixed method research, used both qualitative and quantitative techniques. Time series data were collected utilizing monthly data from January 2011 to December 2015. The variables included crude oil, soybean oil prices, crude palm oil prices, consumption of biodiesel, import of palm oil from foreign sources and the foreign exchange rate. Econometrics analysis was also used as a tool to analyze the factors that affected the price of oil palm model in the Multiple Regression. The study found that Thailand is shortage palm oil which results to fuel shortage crisis in the country. Due to price situation of drought has affect to higher price of palm oil and the end-product for consume not shifting as raw materials, because controlled product is in short supply. In term of output quality control is ensure to compliance with government policies. From research found increase the area under oil palm in right field, improved oil palm plantation by a thoroughbred and restructuring of the industrial production of palm oil and palm oil to the production efficiency.

Author Biography

Pichamon Chansuchai, Suan Sunandha Rajabhat University, Bangkok

PhD, Lecturer in Faculty of Management Science, Suan Sunandha Rajabhat University, Bangkok, Thailand

Research interests – national economy, functioning of local and world markets for agricultural products and natural resources, business administration, corporative management

Published
2017-08-29
How to Cite
Chansuchai, P. (2017). FACTORS AFFECTING THE PALM OIL PRICE IN THAILAND. The EUrASEANs: Journal on Global Socio-Economic Dynamics, (4(5), 37-46. Retrieved from https://euraseans.com/index.php/journal/article/view/53