Trade min to propose measures to stabilize rice price.
To support the government's newly-announced rice price guarantee scheme kicking off in November, the trade minister is planning to propose measures to maintain the rice price.
At the next meeting of the National Rice Policy Committee on Wednesday, Commerce Minister Porntiva Nakasai will propose seven measures to maintain price stability for rice after the government decided to run the price guarantee program for in-season rice for the year 2009/2010 starting November this year.
Porntiva said the measures will be implemented in case the market price for rice falls below the guarantee price set by the state.
Some of the measures include having millers procure rice to prevent a sharp drop in the price while the government will support them with low-interest loans, having the Public Warehouse Organization, the Marketing Organization for Farmers and agricultural cooperatives purchase paddies from farmers at an appropriate time, setting conditions to boost rice exports and hosting fairs for rice nationwide to prevent price cuts by millers.
Internal Trade Department Director General Yanyong Puangrat is supportive of the farm price guarantee as it helps reduce the government's financial burden from the pledging program.
Regarding some farmers' disagreement to the price guarantee scheme, Yanyong said the Bank for Agriculture and Agricultural Cooperatives, which is assigned to manage the program, must clarify the scheme to those farmers.
