Commerce Ministry confident assistance loan measure to raise rice prices

 

BANGKOK, 16 November 2016 (NNT) – The Ministry of Commerce is confident that the assistance loan project will boost the price of rice and advised farmers to maintain produce quality to stabilize prices. 

Commerce Ministry Permanent Secretary Wiboonlak Ruamrak disclosed that the assistance loan measure for farmers during the 2016-2017 harvest season successfully increased the price of rice. 

Fragrant jasmine rice with 15 percent moisture is sold at an average price of 9,000-10,000 baht per ton, and white paddy is sold at 7,000-8,000 baht per ton, she said. 

The government expects that its assistance measure will extract over a million tonnes of fragrant jasmine rice, while the Ministry of Commerce expects to receive an additional one million tons of white paddy rice and the Thai Pathum Thani fragrant rice from farmers. 

During November to December about 19 million tons of paddy rice will be released into the market, while the Ministry of Agriculture estimates that rice production for the entire year would amount to 28 million tons. 

The government has provided a 130 billion baht budget for the assistance program and advised farmers to maintain rice moisture at 15 percent to stabilize prices.

 

-- nnt 2016-11-16

5 hours ago, webfact said:

the assistance loan project will boost the price of rice

As shown time and time again the government can throw seemingly unlimited financial assistance to rice farmers without raising global prices for rice. Meanwhile without any comprehensive plan and execution to modernize the agricultural industry, government handouts just continue to further entrench a flawed industry and make it all the more difficult to change anytime in the near future.