Bangkok: Rice prices have seen fluctuations recently, with notable differences in the impact on various regions. Northeastern farmers are reportedly benefiting from stable jasmine rice prices, while those in the central region face challenges, receiving only 4,500 baht per ton.
According to Thai News Agency, Mr. Wichai Srinawakul, President of the Northeastern Rice Mills Association, explained that jasmine rice prices have been on the rise since the start of the harvest season, continuing through the year-end festive period. This surge has increased the price of milled jasmine rice from 26,000 baht per ton to over 31,600 baht per ton. Consequently, paddy jasmine rice prices have reached between 16,000 and 17,000 baht per ton, with a potential slight increase expected in alignment with the export market, averaging $1,100 per ton.
The recent agreement for China to purchase 500,000 tons of Thai rice is anticipated to impact white rice prices more significantly than jasmine rice, as China predominantly buys “white rice.” Mr. Wichai also highlighted two risk factors that might pressure Thai jasmine rice prices. These include the risk of mixing jasmine rice with other varieties, which could compromise the unique identity of “Jasmine 105 – Khao Khao 15,” and the spread of unfounded rumors about price drops due to imports from neighboring countries.
Mr. Pramote Charoensin, President of the Thai Farmers and Farmers Association, noted that jasmine rice is currently selling for 13,800 to 14,500 baht per ton, depending on moisture content. However, many central region farmers are receiving only 4,500 to 6,000 baht per ton, with few obtaining prices above 6,200 baht.
Despite the positive atmosphere generated by the NBTC meeting and the China rice purchase agreement, the white rice market has not stabilized, with prices remaining below 5,000 baht per ton. The extent to which rice deliveries to China will support the market remains uncertain.