The Commerce Ministry has pledged to stabilise agricultural product prices and address the root causes of issues faced by farmers.
Commerce Minister Phumtham Wechayachai directed permanent commerce secretary Keerati Rushchano and Wattanasak Sur-iam, director-general of the Internal Trade Department, to hold meetings with provincial commercial offices nationwide, along with ministry agencies to ensure the stability of agricultural product prices.
"This government will address the root causes of agricultural product issues, ensuring that farmers have sustainable incomes without being a burden on the state budget," said Mr Phumtham.
"We will focus on increasing income through the development of farmers' capabilities, market system management, financial burden reduction, and infrastructure development with clear and continuous plans. This will make Thailand a true and sustainable global kitchen."
Since the government took office, prices of various key agricultural products have improved by 10-49% compared with the previous nine years, he said.
For instance, the latest price for Hom Mali paddy was quoted at 14,700 baht per tonne, up by 10% or 1,385 baht from the average price of 13,315 baht per tonne from 2015 to 2023.
White rice paddy, meanwhile, is now priced at 12,550 baht per tonne, an increase of 4,107 baht or 49% from 8,443 baht in the corresponding period, while glutinous paddy has risen to 13,300 baht a tonne, up by 1,453 baht or 12% from 11,847 baht.
Similar improvements were observed for other crops like cassava, corn for animal feed, oil palm, mature coconuts and rubber.
Cassava prices are now quoted at 3.65 baht per kilogramme, marking an increase of 1.15 baht or 46% from an average of 2.50 baht per kg over the past nine years, with corn now priced at 9.98 baht, up by 0.88 baht or 10% from 9.10 baht.
Additionally, palm oil is priced at 5.80 baht per kg, an increase of 0.60 baht or 12% from 5.20 baht, while mature coconuts are priced at 12.43 baht per piece, an increase of 0.83 baht or 7% from 11.60 baht.
Raw rubber sheets, grade 3, are priced at 55.19 baht per kg, showing an increase of 7.99 baht or 17% from 47.20 baht per kg.
The improved prices are attributed to government initiatives, including collaboration with the private sector to speed up negotiating sales with countries such as Japan, China, the Philippines, Indonesia and Malaysia.
Additionally, efforts to enhance production quality and create new rice varieties to meet global demand have contributed to positive outcomes.
The government aims to produce 535,000 tonnes of new rice varieties by 2027, promoting processing and adding value to boost competitiveness in the global market.
Simultaneously, Mr Phumtham said market management measures have been implemented proactively for various products.
For rice, measures include supporting millers to help stockpile the rice output during high production periods, and handing out 1,000 baht per rai to rice farmers (not exceeding 10 rai) to help reduce production costs.
For cassava, the government has supported processing fresh cassava to increase opportunities and the value of products for farmers, and a financial facility to tapioca ship dryers.
As for corn for animal feed, efforts have been made to improve financial liquidity for corn gatherers and buyers.
In the case of palm oil, inventory management is conducted to ensure a balanced stock, sufficient for domestic consumption. This promotes palm oil as an alternative energy source and encourages exports to manage excess production.
Additionally, the government has come up with measures to reduce production costs for farmers, such as reducing fertiliser costs and easing the financial burden via debt repayment suspensions.
There is also a focus on accelerating the development of water infrastructure and efficient water management services, said Mr Phumtham.