Bank forecasts rise in food prices next month

By THE NATION

 

 

The Bank for Agriculture and Agricultural Cooperatives (BAAC) research centre forecasts that the price of rice and other agricultural products will increase in May, while the rubber price will fall.

 

The BAAC expects to see rising prices for paddy rice, jasmine rice, sticky rice, maize, raw sugar, cassava, palm oil, pork, and white shrimp next month.

 

Somkiat Kimawaha, BAAC senior executive vice president, said the price of paddy (15 percent moisture) would increase by 1.1 to 1.52 per cent, to Bt9,525-Bt10,412 per tonne on April’s figure after rice-growing countries like India and Vietnam placed restrictions on their exports.

 

The price of Jasmine rice would increase by 0.88 to 1.46 percent, to Bt14,496-Bt14,579, due to demand from Hong Kong after Vietnam halted exports.

 

The sticky rice price would increase by 1.85 to 2.73 per cent, to Bt15,774-Bt15,912 per tonne, due to drought in Thailand and Vietnam’s export situation.

 

Maize with up to 14.5 percent moisture would rise 0.3 to 1 percent in price, or Bt7.54-Bt7.60 per kilo, since market demand was currently outstripping supply.

 

The raw sugar price would increase by 5 to 10 percent, to $10.24-$10.73 per pound (up Bt7.35-Bt7.70 per kilo), due to drought risks and concern over global sugarcane production.

 

The cassava price would increase by 0.57 to 3.745 percent, a rise of Bt1.75 to Bt1.8 per kilo, since Thailand’s trade partners had eased transportation rules amid the Covid-19 crisis.

 

The palm oil price would rise to 0.32 to 2.27 per cent, or by Bt3.09 to Bt3.14 per kilo from the April price, due to the easing of lockdown measures in Thailand, which would lift demand for palm oil and biodiesel.

 

Pork meat would rise to Bt68.89 to Bt69.09 per kilo, or 2.79 to 3.09 per cent, since production has dropped in summer while demand has increased.

 

White shrimp would increase in price by Bt127 to Bt129 per kilogram, or 1.6 to 3.2 per cent, due to the drought and the Covid-19 situation in Thailand.

 

Source: https://www.nationthailand.com/news/30386999

 

-- © Copyright The Nation Thailand 2020-04-29

 

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Notice that the headline states the bank would 'forecast' yet, in the body text, every item is a positive 'would' implying that it is the bank making the increases.

Price gouging again...

First they put discount prices on all these products saying they are helping the needy and when the rules are being softened they are telling people there will be increase on prices ???????? im dumbstruck again over and over . 

This must be the most confusing place ever..... A couple of days ago, all the hype about thousands of food items will be sold at discount prices !!

Today we have BACC saying food prices will rise next month, confusing or what.

Are the pigs starting to snort?

I honestly cannot believe the people havnt stormed the Bastille yet! 

It's ok because the people have no money to buy

Prices of everything up ...... income of everyone down!

One useful action by the Government (and they don't do that many) is to put a price freeze on all food items until end of July to help the poor and destitute citizens of Thailand.  This Government lacks the ability to think outside the box and to think of their electorate!

To top it all off—Baht rises yet again.  When will this insanity end?

Just keep tightening those thumbscrews on the general public

6 hours ago, holy cow cm said:

Are the pigs starting to snort?

Don't tell me the pigs are on it...

Food sellers predicting bank closures starting next month.  No money to give to the banks!

On 4/29/2020 at 5:10 PM, snoop1130 said:

 

The raw sugar price would increase by 5 to 10 percent, to $10.24-$10.73 per pound (up Bt7.35-Bt7.70 per kilo), due to drought risks and concern over global sugarcane production.

If sugar was $10 a pound, no-one would buy it!

 

No journalist ever checks their facts in Thailand .........