AGRICULTURE
Kittiratt defends pledging
Insists global rice prices poised to rise
- Published: 14 May 2012 at 00.00
- Newspaper section: Business
TOKYO : The government should not be in a hurry to sell its stocks of unmilled rice at the current cheap global market price, as doing so will be certain to cause further price drops, says Finance Minister Kittiratt Na-Ranong.
Mr Kittiratt, who is also the deputy prime minister overseeing economic policy, was defending the government's rice pledging scheme, which critics say has led to a record stockpile of 12 million tonnes.
"Instead of selling now, we should wait until the market price improves in line with demand, which should soon rise once the other large rice-exporting countries have sold all their output," he said.
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