Thailand: Rice Intervention Program Targets 8 Mil MT

Amid general elections for a new government later this year, Thailand's government is aiming to accumulate up to 8 million MT of paddy rice under its new 2007-08 rice market intervention program.

Thailand government already has around 3.6 million MT remaining from a total of 5.9 million MT of stocks accumulated under previous programs.

Under the program, the government will buy paddy rice from farmers during the harvesting season at state-set prices as a way to boost the farmers' incomes. The 2007-08 program is set to take effect from Nov. 1 and last until Feb. 29.