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Profiteering in Palm Oil to Be Curbed in Thailand.
Byline: Phusadee Arunmas
Apr. 12--Authorities moved yesterday to prevent local palm oil processors from profiteering through domestic sales of palm oil imported for use in export-related industries.
The Commerce Ministry said imported palm oil could only be stored in warehouses for one month instead of a year.
Companies that import raw materials to make export-oriented finished products can claim import tax refunds, cutting their overall costs and inducing them to take advantage of price movements.
The ministry found that palm oil imported by 18 manufacturers and traders, most of which are in export processing zones, had re-entered the ...
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