Thai Commerce Min estimates rice demand for 2016 at 25 million tons

[webfact]

Min of Commerce estimates rice demand for 2016 at 25 million tons

BANGKOK, 19 January 2016 (NNT) - The Ministry of Commerce has revealed that demand for rice in 2016 should reach 25 million tons.

Permanent Secretary of Commerce Chutima Boonyaprapas said a meeting was held between farmers, rice exporters and rice millers to find a way to maintain the price of rice.

The Ministry of Agriculture and Cooperatives will be responsible for controlling the amount of rice being released to the market, while the Agriculturalist Association will try to keep the price of refined rice at 7,500 – 8,000 baht per ton, depending on global market prices.

President of the Agriculturalist Association Suthep Kongmak said he is not satisfied with the current market prices. He added that he will cooperate with the government to establish agricultural zoning, instead of making direct demands for better price control.


-- NNT 2016-01-19

[Ulic]

7,5-8K per ton. long gone are the 15K per ton sugar plum fairy days.

[ramrod711]

It will be interesting to see if the law suit against Yingluck will take into consideration low rice supplies and possible higher prices. I'm no fan, but fair is fair, if they determine that 500 billion baht is what was lost, then they are able to sell the rice that is stockpiled for a better price, she should not be charged with the higher amount.

[Srikcir]

"demand for rice in 2016 should reach 25 million tons."

Well I should hope. The Prayut government together with the "the private and farming sectors" have recently agreed to cap the rice yield at 25 million tons! (2016-01-08)

[rubl]

"demand for rice in 2016 should reach 25 million tons."

Well I should hope. The Prayut government together with the "the private and farming sectors" have recently agreed to cap the rice yield at 25 million tons! (2016-01-08)

A bit pedantic, but it's cap the rice production (what is reaped after sowing), not the rice yield (percentage sowed versus reaped). The total production may get to be lower than 25 million tonnes even when the drought perseveres as it looks it will.

Now the 25 million tonnes would include both domestic consumption and export. That means that if less is produced probably less will be exported. Not sure as maybe Thai will get a liking for Myanmar/Cambodian/Vietnam normal 5% broken white rice and leave the high value Jasmine rice for export.

[TheCruncher]

It seems that they still think they can talk up the price on the world markets. They gonna be in once again for a nasty wake up.