Thai rice redemption price drops ahead of farming season

The upcoming farming season in Thailand, set to start out this month, is witnessing a major drop within the rice redemption price. This sharp decline, in keeping with the Thai Agriculturist Affiliation, is primarily attributable to market mechanisms and an oversupply of rice, significantly a Vietnamese selection.

Agriculturist Affiliation President Pramote Charoensilp famous that throughout the first crop season of the 12 months, which concluded in February, excessive demand for rice drove the redemption price within the central market up from 7,000–8,000 baht to 12,000–13,000 baht per tonne. This surge marked probably the most vital improve in a decade. Nevertheless, the price has lately seen a downward pattern, inflicting concern amongst farmers because the second crop season approaches.

Charoensilp recognized the Vietnamese rice selection, Khao Hom Phuang or jasmine 85, as one of the important thing elements affecting the price drop. This specific selection is favoured attributable to its excessive yield, quick rising interval, and weather-resistant properties. It’s estimated that this season, 1,000,000 rai of rice plantations in Thailand can be cultivating this Vietnamese rice.

Nevertheless, a supply from the Thai Rice Mill Affiliation has warned in opposition to this selection. It’s characterised by a dull-white hue and is well broken throughout the milling course of, making it much less fascinating for rice mills and exporters.

Echoing these sentiments, the Thai Agriculturist Affiliation has implored farmers to chorus from cultivating overseas rice varieties to keep away from damaging impacts on native cultivars.

Rice Division (RD) Director-Basic Natthakit Khongthip confirmed that no Vietnamese rice varieties have been registered with the division thus far. He identified that Thailand’s rice grain manufacturing doesn’t meet farmers’ wants, driving them to hunt overseas options just like the high-yielding Vietnamese selection that requires much less farming time.

Khongthip added that the RD is making efforts to boost native breeds to assist Thai rice regain its recognition, though vital challenges stay.

In response to those developments, the Thai Agriculturist Affiliation has known as on the Division of Inside Commerce to analyze any extra elements contributing to the price drop and study the supply of overseas rice grains being grown in Thailand.

Thailand Information


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