The government will continue with its rice price pledging scheme because most rice farmers like it, Commerce Minister Boonsong Teriyapirom confirmed on Thursday.

He was responding to comments by an academic at the National Institute of Development Administration (NIDA) that he and his colleagues plan to  submit an open letter to Prime Minister Yingluck Shinwatra, asking her to scrap the scheme.

Mr Boonsong said continuing the scheme was not a violation of the charter and the government is not running rice trading business as alleged.

The minister said he expected at least 25 million tonnes of rice would be mortgaged by farmers under this scheme next year.

Adis Issarangkul Na Ayutthaya, dean of the School of Development Economics at NIDA, earlier said that academics at NIDA would jointly submit an open-letter to the prime minister demanding the government to put an end to the rice price pledging scheme.

Mr Adis said the government had incurred heavy losses running the scheme and they would launch a campaign to collect signatures of academics in support of their petition.

If there is no response from the prime minister, he and his colleagues will consider future action, which might include filling complaints with the Constitution Court or the Administrative Court asking that order the government to end the price pledging scheme.