Detail

Thailand

Rice

All

24/07/2018

Production

Production support

Renewed three schemes aiming to stabilize local prices at harvest time. The first, an on-farm mortgaging programme, would cover 2.0 million tonnes of paddy between September 2018 and September 2019, except in southern parts of the country, where it would be implemented from June 2019 to October 2019. Mortgaging prices under the scheme would be raised 9 percent above 2017/18 levels in the case of Hom Mali paddy to THB 11 800 (USD 359) per tonne, by 5 percent for Pathum Thani fragrant to THB 8 900 (USD 271) per tonne, and by 4 percent in the case of white paddy to 7 500 (USD 228) per tonne, while glutinous prices would be cut by 6 percent to THB 10 200 (USD 310) per tonne. Farmers participating in the scheme would receive an additional THB 1 500 per rai (USD 285 per ha) as compensation for harvesting, and quality improvements for a maximum of THB 18 000 (USD 547) or 12 rais (1.9 ha) per household. This compares with a THB 1 200 per rai (USD 228 per ha) outlay extended for the purpose in 2017/18. Under another scheme, THB 12.5 billion (USD 380 million) would go to provide credit to farmer organizations in order to delay the sales of 2.0 million tonnes of paddy, while another programme would provide a 3 percent interest subsidy to millers and traders who agree to store supplies for 60 to 180 days. The latter scheme aims to delay sales of 5.0 million tonnes of paddy.

Exchange rate as of 15 October 2018.