Thai Commerce Ministry hopeful rice prices will rise

[webfact]

Commerce Ministry hopeful rice prices will rise

 

BANGKOK, 19 May 2017 (NNT) – The Ministry of Commerce is optimistic about this year’s rice prices, recommending growers maintain quality and for all relevant agencies to work to reduce overhead costs for farmers. 

Deputy Minister for Commerce Sonthirat Sonthijirawong has said his office is hopeful for rice prices this year but that more factors have to be considered before concluding whether or not the produce will hit 10,000 baht a ton within this year.

 

The ministry is currently in talks with the Ministry of Agriculture and Cooperatives to find ways to reduce the costs for growing rice, whether by cutting costs for fertilizer or seeds, so that growers will receive a higher profit margin.

 

At the same time, it wants farmers to maintain the quality of their crops as high quality rice would help push up prices. 

Sonthirat remarked that Thai rice value is on the rice as global demand increases. Exporters are being encouraged to seek out new markets and to work to grow Thailand’s market share on the international stage. 

The Department of Internal Trade Promotion has been told to set up regional centers to monitor organizations and groups that might seek to take advantage of rice growers. The centers will watch over silos and mills to make sure they are offering fair prices. 

Growers have been asked to report any swindling to the hotline 1569.

 

-- nnt 2017-05-19

[Prbkk]

They missed the boat on this: the opportunity to position Thai rice as a high-end premium product has gone. Thai rice used to be highly prized and sought after in many of the export markets; now it's just one of many choices.

Plus many young people in the west are shunning high carbs and while the vast majority still enjoy rice, it seems they are eating less per head.

So now it's just a high volume, low margin business rather than the 2 tiered product it should have been.

[tbthailand]

'hope' is not a policy, ... 

[hanuman2543]

In my home country Basmati rice from India is 50% more expensive than Thai Hom Mali. Sushi rice or Italian rice for risotto even more. Time to produce high quality organic (brown) rice or switch to other products.

[worgeordie]

The price is already high,in Makro,big Supermarkets,well everywhere really,

there is a wide margin for profit between the farm and retail,if its not the

farmers,middlemen are making good profits.

regards worgeordie

[Lupatria]

Thai Commerce Ministry hopeful rice prices will rise

Fortune-teller sleeping on footpath run over and killed

 

I wonder if these two headlines are related to each other

[Jimbo2014]

Unfortunately rice is a low end product and competition is high.  Higher since the botched rice scheme.  Thailand needs to diversify its agricultural products which will also help reduce shocks to the budget.  Of course... this is harder work than just growing rice each year.

[Fulwell53]

21 hours ago, worgeordie said:

The price is already high,in Makro,big Supermarkets,well everywhere really,

there is a wide margin for profit between the farm and retail,if its not the

farmers,middlemen are making good profits.

regards worgeordie

Farmers are making good profits???

Yingluck and her ill conceived rice pledging scheme left most of the poor souls destitute and owing money to sharks. 

The real big players and moneymen, the only sort that the shinawatras ever cared about did ok.

 

[Srikcir]

22 hours ago, Prbkk said:

Plus many young people in the west are shunning high carbs

Not just in the West but also in Asia, including Thailand.

Asians are following a rule known as Bennett’s law, which states that as people become wealthier they get more of their calories from vegetables, fruit, meat, fish and dairy products. And many of them are starting to replace the rice in their diets with wheat which is rising quickly in countries like Thailand and Vietnam.

http://www.economist.com/blogs/graphicdetail/2017/03/daily-chart-8

 

[AGareth2]

time for another rice scheme?

[Srikcir]

2 hours ago, AGareth2 said:

time for another rice scheme?

No.

I believe Prayut's Granary Rice Pledge Scheme is still ongoing.