Thailand’s National Rice Policy Committee (NRPC) has cut the pledging price for paddy from Bt15,000 per tonne to Bt12,000 per tonne, effective June 30, and set the subsidy ceiling at Bt100 billion a year, according to Commerce Minister Boonsong Teriyapirom.
He said farmers can sell their paddy for a maximum Bt500,000 per household, beginning tomorrow, adding that the government will allow losses from the rice pledging scheme at not more than Bt100 billion a year.
The stricter measure was imposed after official figures showed Bt136 billion in losses from the Commerce Ministry’s paddy purchase from farmers in the 2011/2012 harvest season, he said.
Mr Boonsong said a survey by the Agriculture and Agricultural Cooperatives Ministry found rice planting costs at Bt8,000 per tonne while farmers will make almost 40 per cent profit after selling paddy at Bt12,000 per tonne.
The NRPC also assigned the commerce, agriculture and agricultural cooperatives and finance ministries to jointly find ways to reduce operating costs for the pledging scheme while pledging price for the next harvest season has yet to be fixed, he said.
About 10 million tonnes of paddy will be purchased from this year’s second harvest, between April 1 and October 31.
The Thai Farmers Association, meanwhile, called on the NRPC to review its decision and asked the government to continue the rice pledging scheme for the next five years.
Vichien Puanglamchiak, association chairman, said farmers will submit a letter of protest to the government and may organise a demonstration if the government stands firm on reducing the pledging rice. (MCOT online news)
Thai Mango growers complain of low prices and fewer exports
Because of the global COVID-19 pandemic, their mangoes are not being exported, due to fewer buyers, and their prices have plunged to between 10 and 20 baht per kilogram, depending on size.
Mango orchard owners in Thailand’s northern province of Phitsanuloke are seeking help from the provincial administration to promote the sale of their sweet fruit, particularly Barracuda Mango variety.(more…)
Covid-19 and food security: can emerging economies mitigate rising prices?
The Food Price Index, established by the UN’s Food and Agriculture Organisation (FAO) to track monthly changes in international food prices, rose for the eighth consecutive month in January, primarily as a result of Covid-19.
An increase in food prices following the coronavirus pandemic has intensified concerns related to global food security. For emerging markets, this has further underlined the importance of regional cooperation and innovative solutions to help overcome the challenges.(more…)
Thailand Raises Public Debt Ceiling from 60% to 70% of GDP
Thailand’s State Monetary and Fiscal Policy Committee has decided to raise the ceiling of the public debt-to-GDP ratio from 60%...
Thailand Approves Package to Attract Wealthy Foreigners and Professionals
Thailand’s Cabinet has approved an economic stimulus and investment promotion package aimed at attracting wealthy foreigners and highly skilled professionals...
The Role of Telemedicine Today: During and Beyond the COVID-19
Lockdowns, quarantine periods, and hospitals fast filling to the brink needed the medical community to come up with solutions fast....
Malaysia, Thailand banks to join the ASEAN Banking Integration Framework
Banking institutions from Thailand and Malaysia are invited to join the ASEAN Banking Integration Framework and indicate their interest to...
Climate Change Could Force 49 Million People to Migrate in East Asia and the Pacific
Out-migration hotspots in agricultural areas of central Thailand and Myanmar coincide with areas expected to see declines in both water...