The Office of Agricultural Economics (OAE) has warned that price of Thai rice from April to May this year might plummet after the rice pledging scheme ended and rice from Vietnam entered the market.

Secretary-General of the OAE Khanit Likhitwithayawut said Thai rice price had continuously dropped since the beginning of 2014 in part due to the termination of the rice subsidy program. The government’s urgent rice distribution, rice from Vietnam and lower quality February rice were also the causes of the price drop. On the positive side, the price decrease would help boost Thai rice exporters’ competitiveness, the official said.

An average price of husked rice with 15% moisture content in March is 7,644 baht/ton, lower in comparison to 10,158 baht/ton in the same period last year.

Source: National News Bureau & Public Relations