Thailand Announces Hike In Paddy Intervention Prices

In an attempt to reach its target of purchasing up to 8 million MT of rice during the current sesion, Thailand's Rice Policy Committee has increased its 2007-08 intervention prices for jasmine fragrant rice and white rice paddy by THB300-THB400 PMT respectively.

Current market prices for jasmine fragrant rice paddy are around THB9,200-THB9,500 PMT, while those for 100% white rice are around THB6,700-THB6,800 PMT.
 
Thailand is the world's largest rice exporter. It exported 7.5 million MT of rice in 2006 and targets to ship 8.5 million MT this year.