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177239
Fri, 04/22/2011 - 11:01
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http://m.oananews.org//node/177239
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Thailand confident paddy price will reach 9,000 baht a ton
BANGKOK, April 22 (TNA) - The Thai Ministry of Commerce is confident that the Thai paddy price will reach 9,000 baht per ton this year.
After his speech on the direction of Thai rice in global markets, Yanyong Puangraj, permanent secretary of the Commerce Ministry, said the local paddy price already rose from 8,200 to 8,300 baht per ton and was likely to reach 9,000 baht per ton due to rising demands worldwide. Thailand is exporting over 1 million tons of rice per month and the combined amount of exported rice in the first quarter of this year reached 3.5 million tons. He believes the annual rice export volume should exceed the target of 9.5 million tons this year. The paddy price in global markets stands at 600 US dollars per ton.
He does not expect a decline in the local paddy price although 4 million tons of paddy will be produced next month and 1.4 million more tons in June. He stipulated that the government will buy paddy from farmers in the areas where their paddy prices may drop in order to maintain its reference price.
Regarding rising fertilizer prices, Yanyong said that the government was working out a fertilizer subsidy so that they could be offered in May when the fertilizer use of rice farmers will peak. The subsidy will guarantee that rice farmers will make a profit of at least 3,000 baht per ton of paddy.
To maintain its leadership as a rice exporting country, the commerce permanent secretary said, Thailand would do it through the grouping of the ASEAN Economic Community (AEC) as Southeast Asian countries produced over 60% of worldwide rice. He expects Thailand to set the standards of world rice and add value and uniqueness to its rice products to attract buyers. (TNA)
After his speech on the direction of Thai rice in global markets, Yanyong Puangraj, permanent secretary of the Commerce Ministry, said the local paddy price already rose from 8,200 to 8,300 baht per ton and was likely to reach 9,000 baht per ton due to rising demands worldwide. Thailand is exporting over 1 million tons of rice per month and the combined amount of exported rice in the first quarter of this year reached 3.5 million tons. He believes the annual rice export volume should exceed the target of 9.5 million tons this year. The paddy price in global markets stands at 600 US dollars per ton.
He does not expect a decline in the local paddy price although 4 million tons of paddy will be produced next month and 1.4 million more tons in June. He stipulated that the government will buy paddy from farmers in the areas where their paddy prices may drop in order to maintain its reference price.
Regarding rising fertilizer prices, Yanyong said that the government was working out a fertilizer subsidy so that they could be offered in May when the fertilizer use of rice farmers will peak. The subsidy will guarantee that rice farmers will make a profit of at least 3,000 baht per ton of paddy.
To maintain its leadership as a rice exporting country, the commerce permanent secretary said, Thailand would do it through the grouping of the ASEAN Economic Community (AEC) as Southeast Asian countries produced over 60% of worldwide rice. He expects Thailand to set the standards of world rice and add value and uniqueness to its rice products to attract buyers. (TNA)
