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Baht/$ 33.84/87 (Bid/Ask)
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GOLD |
12,900
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AGRICULTURE
CHATRUDEE THEPARAT & PHUSADEE ARUNMAS
The government plans to begin another rice-pledging scheme in November for the main paddy crop in a bid to shore up domestic rice prices.
Commerce Minister Chaiya Sasomsab said the pledging price would be no less than the 14,000 baht per tonne offered currently for second-crop paddy.
Mr Chaiya said earlier that the price could be as high as 15,000 baht a tonne for regular paddy and 19,000 baht for jasmine rice paddy.
However, exporters warned that proposed higher prices might affect export competitiveness, given the high price gap between Thai rice and rice from other countries.
The government bought 1.2 million tonnes of paddy _ equivalent to around 720,000 tonnes of milled rice _ from farmers under a buying scheme for the second crop that started on June 15. Purchases are due to end on Sept 30.
Mr Chaiya also said that the government was confident it could clear the entire 2.1 million tonnes of rice in its old stockpile, and another 1.2 million tonnes bought from the latest pledging scheme.
The government yesterday agreed to sell 120,000 tonnes of 15% white rice to Timor-Leste. Thailand will deliver the first lot of 30,000 tonnes under a government-to-government deal at $860 per tonne, with the remainder to be handled by private exporters.
Last week, the government signed a letter of intent to sell 100,000 tonnes of 25% white rice a year via private exporters under a three-year contract with Djibouti.
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