Bangkok, Minister of Agriculture reveals he is preparing to present to the Cabinet meeting. Tomorrow, two projects will be approved according to rice price stabilization measures to delay the release of rice for the year to the market by 1-5 months. As for the harvest subsidy that farmers used to receive at 1,000 baht per rai, it will be used for management costs and development of product quality for rice growers . instead at the rate of 1,000 baht per rai, not exceeding 20 rai per person.
Captain Thammanat Phromphao, Minister of Agriculture and Cooperatives, said: Tomorrow it will be presented to the Cabinet. To consider and approve the project according to measures to stabilize the price of paddy rice 66/67, 2 projects:
1. Loan to delay the sale of rice paddy, target 3 million tons, credit limit over 10,000 million baht, with deposit fee of 1,500 baht per ton. In the case of joining a cooperative, the cooperative receives 1,000 baht per ton, farmers receive 500 baht per ton, storing rice in the barn 1– 5 months, starting 1 Oct. 2023 - 29 Feb. 2024, farmers can apply for loans from the Bank for Agriculture and Agricultural Cooperatives (BAAC) with 12,000 baht per tonne of jasmine rice, jasmine rice outside the area. 10,500 million baht per ton, Pathum Thani fragrant rice 10,000 baht per ton, rice 9,000 baht per ton, and sticky rice 10,000 baht per ton. If rice prices increase Farmers can go and redeem them to sell.
2. Loans to collect rice and create added value by farmer institutes, target 1 million tons, credit limit 481 million baht, with the cooperative paying interest at 1%, the government helping with interest at 3.85%, for a period of 15 months, loan payment period 1 Oct. 2023 - 30 A. September 2024
For the project according to the rice price stabilization measures 66/67, the cooperative will purchase rice at a price higher than the market price, approximately 200-500 baht per ton, with the objective of delaying rice production from being released to the market at the same time.
As for subsidy to farmers for harvesting costs of 1,000 baht per rai, this year there is no allowance. But the government will support the cost of rice quality management and development, 1,000 baht/rai, which will be offered to the National Rice Policy and Administration Committee (NBK), which has Mr. Settha Thavisin, Prime Minister and Minister of Finance. will be the chairman next time
The Office of Agricultural Economics reports on the Thai rice situation (as of October 2023), predicts rice production for the production year 2023/24.
– Overall, production was 32.35 million tons of paddy, a decrease from last year of 2.08 million tons of paddy (-6%).
– This year the production was 25.57 million tons of paddy, a decrease from the previous year of 1.14 million tons of paddy (-4%).
– Off-season rice production was 6.78 million tons of paddy, a decrease from last year of 0.94 million tons of paddy (-12%).
However, production is likely to decrease as Thailand is affected by El Niño. causing the amount of rain to be less than normal As a result, some areas can only grow rice in one annual crop. and the yield per rai tends to decrease.
In terms of rice exports in 2023 (Jan.-Sept.), India is the number 1 rice exporter in the world, approximately 14.87 million tons, followed by Vietnam 6.26 million tons, Thailand 6.08 million tons, Pakistan 1.98 million tons. and the United States, 1.49 million tons, with India's rice exports decreasing (-3%) due to measures to limit rice exports. to control the price of rice within the country Vietnam's rice exports increased (+33%) due to strong increases in orders from the Philippines and Indonesia. Thailand's rice exports increased (+12%) due to a large increase in orders from Indonesia. Including benefiting from India's ban on white rice exports and Pakistan, rice exports decreased (-37%) due to limited rice supplies. from the severe flooding last year
In 2023, Thailand is the number one exporter of white rice. Accounting for 53 percent of the total Thai rice export volume. Important countries that import white rice are Indonesia, Iraq, Malaysia, Japan, Mozambique, followed by parboiled rice at 19%. Important countries that import parboiled rice are South Africa, Bangladesh, Yemen, Benin, Cameroon, Thai jasmine rice 18%. Countries that import Thai jasmine rice. Important countries include the United States, Senegal, Hong Kong, Canada, China, Thai fragrant rice 6%. Important countries that import Thai fragrant rice include the United States, Senegal, Hong Kong, Canada, Singapore, glutinous rice 3%. Important countries that import glutinous rice include China, Indonesia, the United States, Laos, Japan, and brown rice 1%. Important brown rice importers include South Korea, the United States, China, Poland, and Singapore.
Compared to last year Prices of all types of paddy increased by an average of 24% as follows:
– Jasmine rice, 14,800-16,000 baht per ton, average 15,400 baht per ton, an increase from last year of 13,599 baht per ton (+13%).
– Pathum Thani rice paddy, 12,500-13,000 baht per ton, average 12,750 baht per ton, an increase from last year of 10,687 baht per ton (+19%).
– Rice paddy, 11,300-11,800 baht per ton, average 11,400 baht per ton, an increase of 8,984 baht per ton from last year (+27%).
– Sticky rice 12,500-14,800 baht per ton, average 13,800 baht per ton, an increase of 9,968 baht per ton from last year (+37%).
From evaluating the trends in the Thai rice situation, it was found that Thai rice prices are high. There are positive factors as follows:
1. Domestic rice consumption tends to increase. from the country's economy that is recovering causing domestic tourism to improve Resulting in stimulating domestic consumption.
2. Thai rice exports are likely to meet the target of 8 million tons due to
India has a ban on the export of non-basmati white rice. As a result, Thai rice is in greater demand in the market.
The baht depreciates As a result, Thai rice export prices are competitive in the world market.
Foreign markets tend to import more rice. to create food security
However, there are negative factors that must be watched out for, including:
El Niño phenomenon which will cause a period of rain. It may affect the quantity and quality of rice products that will be released to the market.
The world economic situation and trading partners may have decreased purchasing power due to inflation problems. -
Source: Thai News Agency