Big rise in rice export price inevitable

Business > Economics

Big rise in rice export price inevitable

Published: 18/08/2011 at 08:33 AM
Newspaper section: Business

Commerce Minister Kittiratt Na-Ranong has vowed to proceed with the Pheu Thai Party's election promise to buy paddy rice from farmers at 15,000 baht a tonne, while conceding it could increase the export price of Thai rice to US$800 a tonne, from $550 this week.

He asked consumers to support the scheme because it would raise incomes for farmers.

"Domestic rice prices might escalate, but be sure the government will assist consumers to cut expenses on other goods through Blue Flag shops," he said.

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About the author

: Writer: Phusadee Arunmas; Position: Business Reporter

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banmebkk
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Discussion 2 : 18/08/2011 at 02:45 PM2
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If price rises to $880 per ton, people will buy up all the supplies in neighboring countries before they come to Thailand. Farmers will still loose out in the end if exports are down and middlemen doesn't buy their rice. The current market price is around $550, $880 is a very big jump. Nobody will pay an additional 40% unless there is a very short supply, which isn't the case here.

I wonder how they are going to sell something that has a 40% premium over our neighbors.
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bkkdave
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Discussion 1 : 18/08/2011 at 10:37 AM1
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There are no blue flag shops in Pattaya - where do we have to go to get the rice???
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Big rise in rice export price inevitable | Bangkok Post: business