Boonsong Teriyapirom, the newly appointed commerce minister, will this week meet with rice exporters in a bid to ensure that rice exports exceed the Bt200 billion mark this year.

He has made this a priority since rice exports have been dropping hugely over the past few months due to the government's pledging scheme.

The ministry's permanent secretary, Yanyong Phuangrach, said Boonsong was hoping to push the value of Thai rice exports up to Bt200 billion this year from Bt196 billion last year.

"Though the volume of rice exports has dropped over the past few months, the government has had to go ahead with its pledging policy to boost the income of farmers. However, the ministry will exercise more control on rice traders, millers and exporters in order to drive export value this year," Yanyong said. The ministry will also explain the policy, especially since many exporters have been against it.

The Commerce Ministry has reported that the country's rice export value was down by 43 per cent to US$390 million (Bt12 billion) in December, while export volume dropped 55.8 per cent to just 495,416 tonnes. Under the strategy to promote rice exports this year, the ministry is planning to place a greater emphasis on quality and the added value of rice, particularly the jasmine variety.

Yanyong said the ministry was planning to upgrade Thai jasmine rice to the same level as India's basmati, which should help it achieve a high export value.

Boonsong will also reconsider the ministry's rice-releasing plan and ensure that it has the minimum impact on market prices.

Source: The Nation