Thai farmers ask the government to stabilize rice prices

Rice

Thailand

Published Nov 18, 2021

Tridge summary

Mr. Chookiat Ophaswongse - Honorary President of the Thai Rice Exporters Association said that finished rice production could reach 20 million tons in the 2021/22 season, a sharp increase from 16.5-17 million. tons in the 2020/2 crop year, and the baht's 13% drop against the dollar for the whole of 2021 has helped lower export prices, thereby improving the competitiveness of Thai rice compared to other competitors. In addition, rice prices are also affected by the shortage of shipping containers. The price of Thai 5% broken white rice is currently around 400 USD/ton (equivalent to 13,300 baht/ton), $120/ton lower than at the beginning of the year and 2,700 baht/ton compared to 2020.

Original content

Each time the baht increases will make Thai rice more expensive by 16 USD/ton. Responding to criticisms of lower rice prices, Deputy Prime Minister and Commerce Minister Jurin Laksanawisit said the previous drop in rice prices was mainly because most of the rice in stock could not be exported when the baht was strong. However, the situation is improving as the baht is depreciating causing the export price of rice to fall. The Ministry of Commerce is planning options to help millers or agricultural cooperatives maintain rice supply when prices are low by supporting 1,500 baht/ton. According to the annual e-Conomy SEA 2021 report of Google, Temasek and Bain & Company, Thailand's digital economy is estimated to reach 30 billion USD in 2021. . In Singapore, Thailand's digital economy is growing exponentially, especially in the gaming, e-commerce and cryptocurrency segments. This sector attracts the interest of investors. According to statistics, in the whole year of 2020, there are ...

Source: Vinanet