Thailand: Government Hoping To Buy 8 Million MT

Thailand's government is preparing to buy up to eight million MT of paddy from the main 2008-09 crop when harvesting starts in November, under its rice pledging scheme designed to prop up prices.

Under the pledging program, farmers are likely to be paid 14,000 baht PMT of paddy of 5% moisture from the main crop, with Thai Hom Mali jasmine paddy at 16,000 baht, and glutinous paddy at about 9,000 baht PMT.