Ministry urges exporters to buy more jasmine rice to push up price

[rooster59]

Ministry urges exporters to buy more jasmine rice to push up price

 

BANGKOK:-- The Ministry of Commerce is seeking cooperation from exporters to buy more jasmine rice from to shore up price above 11,700 baht per tonne as more supplies are expected in the upcoming new harvest season.

 

Commerce minister Mrs Apiradee Tantaporn said she would ask exporters to buy rice in order to keep the rice prices above 11,700 baht per ton as now rice from the latest harvest was gradually entering the market.

 

She will also talk to the Bank for Agriculture and Agricultural Cooperatives about the measures to encourage  farmers to delay rice sales and hold rice in their  barns, and speed up rice trade negotiation with other countries to release Thai rice supply.

 

Full story: http://englishnews.thaipbs.or.th/ministry-urges-exporters-to-buy-more-jasmine-rice-to-push-up-price/

 

 

 

-- © Copyright Thai PBS 2016-10-22

 

[Chris Lawrence]

So is this part of Yinguck's stockpile?

[Chang_paarp]

These folk don't seem to understand the concept of supply and demand. Why buy last harvest's crop that has been stored in the quality storage system when the new crop is due. 

 

Oh and do we actually have any orders just now to fill?

[Maverell]

So exporters have to buy more rice to keep the price up ?  What do the exporters do if they cannot sell it ? I just cannot understand the logic. The natural laws of supply and demand do not seem to enter into it.

[jerojero]

Exporters are middle men reacting to demand from foreign buyers customers. Can't force extra rice on a world market that doesn't want more, unless you LOWER the price. Basic economics. Duh.

[Mr Somtam]

30 minutes ago, jerojero said:

Exporters are middle men reacting to demand from foreign buyers customers. Can't force extra rice on a world market that doesn't want more, unless you LOWER the price. Basic economics. Duh.

You don't understand: this is Thailand - not same your country!

 

[tbthailand]

maybe the government should set a minimum selling price and stockpile the excess? 

[ratcatcher]

The Ministry of Commerce is seeking cooperation from exporters to buy more jasmine rice from ? to shore up price

 

From farmers?  From existing stockpiles? From whom?

How about asking foreign governments/traders to buy more rice?

[Just1Voice]

He said the price of Thai jasmine rice is over US$ 600 per tonne, close to those of neighbouring countries, and not much higher like in the past.

 

So, they admit the price is higher than their competitors, and want to go even higher! Real genius at marketing principles, aren't they? Morons.

 

[Mr Somtam]

3 minutes ago, Just1Voice said:

He said the price of Thai jasmine rice is over US$ 600 per tonne, close to those of neighbouring countries, and not much higher like in the past.

 

So, they admit the price is higher than their competitors, and want to go even higher! Real genius at marketing principles, aren't they? Morons.

 

TIT: the price goes up, we sell more : we have a win-win situation!

 

[BuckBee]

Rice traders want make money too so if india vietnam & cambodia pumping out tonnes of jasmine you can't artificially try control price.

 

look what happened last time some bunch of thai twits thought they could inflate prices lol .
turned into a rotten mess :-)

[RichardColeman]

Up next, sack of rice requirement on all 90 day reports.

[kannot]

4 minutes ago, RichardColeman said:

Up next, sack of rice requirement on all 90 day reports.

Killer!!!!

[worgeordie]

Its not the exporters that need to buy more Jasmine rice,its their customers,

they must think the exporters are stupid,stockpile rice,so the price goes up,

making it harder to sell, ..........I think thats been tried before,resulting in 

great losses to the Country,unless they can squeeze a few Billion out of

Yingluck,but don't hold your breath.

regards worgeordie

[Eric Loh]

1 hour ago, ratcatcher said:

The Ministry of Commerce is seeking cooperation from exporters to buy more jasmine rice from ? to shore up price

 

From farmers?  From existing stockpiles? From whom?

How about asking foreign governments/traders to buy more rice?

 

Just not only asking foreign countries but getting the MOC get off their hind and promote Jasmine. Jasmine has intrinsic differentiation like aroma and texture and also low glycemic value which can be promoted as a dietary food. I have not seen much promotion these days unlike past. 

[fgmr]

1 hour ago, BuckBee said:

Rice traders want make money too so if india vietnam & cambodia pumping out tonnes of jasmine you can't artificially try control price.

 

look what happened last time some bunch of thai twits thought they could inflate prices lol .
turned into a rotten mess :-)

The announcement came from the Ministry of Commerce. It then read like an Irish Pub joke.

 

Pump some money into Marketing their product internationally. Perhaps they can use some of that loot they want from the charming lady.. 

[473geo]

Government are right to be concerned, for example why would BAAC buy rice it cannot sell? More profit in loans! So who will buy and at what price?

 

Many farmers habitually stored rice in their barns on the back of a guaranteed price from BAAC. Pushed onto the market when the glut subsided, but now the possibility rice can be refused as too dry, poor quality, all on the whim of the buyer in front of you especially if the market is saturated.

 

So what do you do? sell fast take what you can get, appears to be the common path.

 

Over the last couple of years I have seen many people selling straight from the paddy where never known before!

[Chris Lawrence]

What are the rice reserves. There should be plenty of old stock from a couple of years ago or was it sold and someone has pocketed 35m baht?

[soalbundy]

17 hours ago, jerojero said:

Exporters are middle men reacting to demand from foreign buyers customers. Can't force extra rice on a world market that doesn't want more, unless you LOWER the price. Basic economics. Duh.

Yeah lower it, my mother -in-law has just harvested her rice, after paying for the combine harvester man, paid of the last installment for fertilizer she was left with two thousand Baht,she was lucky, she got 6 Baht a kilo,others i know only got 5 Baht,that's less than it cost them to grow and harvest it. Better to do as my wife did, only grow enough for your own use and harvest it by hand

[performance]

Another comic book superwoman making merit to Prayut. 

[madmitch]

Sounds like the previous Government scheme but this time funded by private industry. 

 

In which case why would anybody wish to participate?

[The man from udon]

Yeah come but half of my land at a over inflated price so I can get more for the second half...half wits.how the hell do these people make it so far up the ladder.

[Kiwiken]

I guess time for Our Countries to move to Suppliers from other Countries as we did previously when they artificially hiked the price

[The man from udon]

Thai rice has just jumped up 20% + in uk since brexit.i think they'll go back on spuds and save a few pound.

[ramrod711]

20 hours ago, RichardColeman said:

Up next, sack of rice requirement on all 90 day reports.

Funny, the previous government had a similar idea, sell 1 kg bags at airports so that tourists could all take a bag home. That didn't work either.

[Anthony5]

3 minutes ago, ramrod711 said:

Funny, the previous government had a similar idea, sell 1 kg bags at airports so that tourists could all take a bag home. That didn't work either.

 

But being familiar with King Power policies, those 1kg rice bags at the airport were probably 4 times the price at the local supermarket

[FredNL]

22 hours ago, jerojero said:

Exporters are middle men reacting to demand from foreign buyers customers. Can't force extra rice on a world market that doesn't want more, unless you LOWER the price. Basic economics. Duh.

 

Don't you get it by now?
Thai economy is inversely proportional to the rest of the world !!!

 

Lower demand in Thailand and prices go up... High demand and prices also go up. 

Take a look at the hotels in low and in high season... Less guests in low season but they still want to make the same amount of money and they raise the prices.

[Bluespunk]

23 hours ago, Chris Lawrence said:

So is this part of Yinguck's stockpile?

Nah, that all rotted due to corruption and ineptitude. 

[Chris Lawrence]

15 hours ago, Bluespunk said:

Nah, that all rotted due to corruption and ineptitude. 

No It didn't. Rice has a long shelf life, the longer you store it its quality will decrease a little; Thai rice is considered the best in the world. So who has got a new 35Billion Baht Yacht on order? 

[ikke]

19 hours ago, The man from udon said:

Yeah come but half of my land at a over inflated price so I can get more for the second half...half wits.how the hell do these people make it so far up the ladder.

 

They only need a friend in the army....