The Commerce ministry is urging the National Rice Policy Committee to control the price of rice in the market and keep it at the same level as the guarantee price, in order to further support rice farmers.

Commerce Minister Pornthiva Nakasai revealed that the ministry will suggest that the National Rice Policy Committee, led by Prime minister Abhisit Vejjajiva, consider stability measures for rice prices in the market after the price of paddy rice in the market continued to drop.

She suggested that the Public Warehouse Organization and the Marketing Organization for Farmers, in cooperation with rice exporters and rice mills, directly purchase the paddy rice from farmers at a high price.

Pornthiva added that the support policy for rice prices needs to be implemented immediately, and should tackle rice prices in the market, which continue to drop.

She said that the the government set the the price guarantee for jasmine paddy rice at 15,300 baht per ton while a recommended price for the jasmine paddy rice on October 16-31 is 14,940 baht per ton. The government will cover the compensation, worth 360 baht.

The price guarantee for white paddy rice has been set at 14,300 baht per ton while a recommended price for the white paddy rice from October 16-31 is 13,860 baht per ton and the government will pay compensation of 440 baht.

In addition, the price guarantee for Pathum paddy rice is set at 10,000 baht per ton, while a recommended price for the Pathum paddy rice during the October 16-31 period is 8,940 baht per ton and the government will pay compensation of 1,060 baht.

The recommended price for sticky paddy rice for October 16-31 is 7,470 baht per ton and the guaranteed price is 9,500 baht per ton, while the government will pay the compensation of 2,030 baht.

Source: TANN