The Agricultural Futures Trading Commission (AFTC) will promote sales of rice in an agricultural futures market as a way to help distribute rice and pay farmers in the government’s rice pledging program.

Permanent Secretary for Commerce Srirat Rasthapana, in her capacity as chairperson of a subcommittee under the AFTC, said the AFTC needed to connect with international markets, raise its regulation standards, support the distribution of rice in government warehouses via the Agricultural Futures Exchanges of Thailand (AFET) and create understanding among agricultural entrepreneurs.

Ms Srirat added that she especially agreed with the distribution of rice in government warehouses via the AFET since it was a transparent and fair method. The official also urged all stakeholders to work proactively in promoting rice auction in the AFET and stressed that it was important for agricultural entrepreneurs to learn more about the AFET so that they could plan their rice production and rice trade accordingly.

The AFTC also had to formulate plans in preparation for the launch of the AEC with a focus on the Chinese market, one of Thailand’s major importers of agricultural produce, the permanent secretary said.

Source: National News Bureau & Public Relations