Thailand Begins Procurement Program

The government of Thailand has announced that it would start purchasing 290,000 MT of rice from farmers today and would stop selling rice in the state stockpile for the next four months in order to improve market prices.

Deputy Prime Minister on economic affairs Trairong Suwankhiri said the National Rice Policy Committee has resolved to procure off-season rice totaling 290,000 tons from farmers to ease the problem of falling price, starting today. The Commerce Ministry has carried out rice procurement in five provinces, namely Sukhothai, Suphan Buri, Ayutthaya, Chainat and Phitsanulok.

Farmers can sell rice with 15-percent moisture to the government at 10,000 baht PMT, rice with 25-percent moisture at 8,403 baht and rice with 28-percent moisture at 7,900 baht.