ID :
209070
Fri, 09/23/2011 - 14:24
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Shortlink :
http://m.oananews.org//node/209070
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Commerce ministry eyes rice mortgage extension
BANGKOK, September 23 (TNA) - The Commerce Ministry will ask the Thai cabinet to extend its rice mortgage scheme until March next year to help flood affected farmers.
Permanent Secretary for Commerce Yanyong Puangrach, said the Commerce Ministry and the Agriculture and Cooperatives Ministry would be seeking a one-month extension for the scheme initially ending February 29, 2012, to a new date of March 31, 2012.
Yanyong added that he expected farmers to grow rice again once the current round of flooding subsided, and to start harvesting in 100-120 days thereafter, meaning that this year’s rice supply should suffice the same level or even increase.
Yanyong predicted that Thailand could export up to 11 million tons of rice this year, the highest ever to be recorded, with 8-9 million tons of rice having already been shipped.
And despite a recent U.S. Department of Agriculture forecast, saying Thailand would export only 9 million tons of rice next year, Yanyong said the falling figures did not worry him, as the global rice price would rise in line with the Thai rice mortgage price for the 2010/2011 season. He also believed major rice exporter Vietnam would raise its prices accordingly. (TNA)
Permanent Secretary for Commerce Yanyong Puangrach, said the Commerce Ministry and the Agriculture and Cooperatives Ministry would be seeking a one-month extension for the scheme initially ending February 29, 2012, to a new date of March 31, 2012.
Yanyong added that he expected farmers to grow rice again once the current round of flooding subsided, and to start harvesting in 100-120 days thereafter, meaning that this year’s rice supply should suffice the same level or even increase.
Yanyong predicted that Thailand could export up to 11 million tons of rice this year, the highest ever to be recorded, with 8-9 million tons of rice having already been shipped.
And despite a recent U.S. Department of Agriculture forecast, saying Thailand would export only 9 million tons of rice next year, Yanyong said the falling figures did not worry him, as the global rice price would rise in line with the Thai rice mortgage price for the 2010/2011 season. He also believed major rice exporter Vietnam would raise its prices accordingly. (TNA)
