The National Rice Policy Committee yesterday approved benchmark prices for white rice and Pathum Thani paddy under a new subsidy scheme for the 2009-10 crop. But it said prices for glutinous and Thai Hom Mali rice were too high.

Officials on Monday set a benchmark price of 10,000 baht per tonne for 15% moisture white rice. They proposed a Hom Mali paddy price of 15,300 baht, with general fragrant paddy at 14,800 baht and Pathum Thani at 10,000 baht.

The prices were higher than farmers' production costs which were estimated at 6,000 to 7,000 baht for white rice and 11,096 baht for Hom Mali.

Source: Bangkok Post