The Rice Policy and Management Committee announces rice stock release plans and expects over 34 million tons of rice throughout this year.
The Rice Policy and Management Committee yesterday approved the project to provide over 180 million baht in funding to help farmers with rice harvests and quality improvement costs for the 2016-2017 season.
Over 34 million tons of rice are expected throughout this year, no fewer than 10 million tons of which will be exported.
The Rice Policy and Management Committee, chaired by Prime Minister Prayut Chan-o-cha, approved in principle the integrated production and marketing plans for 2019/2020 season.
The plans will be implemented with regards to the demand and supply mechanism, export, domestic consumption, industrial uses and seedlings. Rice production in targeted areas will be improved and promoted for the 2019/2020 season while domestic marketing will be developed and the rice harvest and quality improvement costs will be shared.
28,792 farmers registered for the slowed rice harvesting
A total of 28,792 farmers have registered for the slowed rice harvesting and compensation pay project, which amounted to over 180 million baht for 2016/2017 season. The assistance measure will be submitted to the cabinet for approval today or next week at the latest.
Additionally, the Rice Policy and Management Committee acknowledged the Ministry of Agriculture and Cooperatives’ report on the projected production of over 34 million tons of rice throughout this year, accounting for a one to two million ton increase from last year.
10 million tons bound for export
The demands for export, domestic consumption, industrial raw materials and storing are projected to amount to 32.48 million tons, no less than 10 million tons of which will be bound for export.
Meanwhile, the Ministry of Commerce has released over 17.4 million tons of rice from its stock over the last few years with a small volume pending delivery. The Marketing Organization for Farmers and Public Warehouse Organization are speeding up the release of rice from the untapped stock. National News Bureau Of Thailand
Thai Rice Export Expected to Drop to 7.5m tons this year
This year’s projection for rice exports remains close to the previous year at 7.5 million tons, the lowest in seven years since 2013 when Thailand exported 6.6 million tonnes of rice.
Thailand struggles to regain world’s largest rice exporter title
In Thailand, a strong baht, Asia’s best performing currency in 2019, has kept away potential buyers who find cheaper markets elsewhere, such as in Vietnam.
After losing the number one global rice exporter position for three years, the Ministry of Agriculture and Cooperatives has met with related agencies and rice exporters to find measures to reclaim the top spot.(more…)
Thailand’s rice exports hampered by strong baht
Thai rice exports are likely to stay below targets as the strong baht weakens competitiveness in the world market (Photo: Bangkok Post)
What is Forex Trading and how it works?
Why do the investors choose Forex trading? Forex trading is traded by currency pairs. This is because all currency trading...
APRIL International Care opens up TeleHEALTH service to address Coronavirus worries
The TeleHEALTH service means policyholders do not have to leave their home or workplace to “see” a doctor, with a...
Thailand rolls out New Investment Measures to Boost Economy
The new definition of qualified applicants now includes businesses that have not previously received BOI promotion privileges as long as...
Subscribe via Email
- Banking2 days ago
Thailand’s Banking Outlook changed to negative (Moody’s)
- Economics5 days ago
Thai Cabinet approves Measures to Ease Economic Impact of COVID-19
- Economics4 days ago
EAP Countries Brace for Economic Shock of COVID-19
- Asean5 days ago
Assessing the economic impacts of COVID-19 on ASEAN countries