BANGKOK, 2 July 2012 – The Ministry of Commerce has vowed to continue with its price intervention measures on agricultural produce in the hope of increasing income for Thai farmers.
Permanent Secretary for Commerce Yanyong Puangrach said on Sunday that the crops the ministry’s price intervention scheme would target included rice, tapioca, Para rubber, corn, and fruit.
He was confident that the price guarantee scheme would help prevent produce prices dropping and lead to price adjustments by both domestic and foreign traders next year.
According to the director-general, 16 million tons, well below the targeted 30 tons, of rice have entered the current price guarantee scheme; with the intervention price set at 16,000 baht per ton. Mr.Yanyong said the scheme had helped increase the prices of rice by 40-50% compared to the prices of the previous year.
The next price guarantee scheme will start in August 2012. The intervention prices are set at 15,000 baht and 20,000 baht a ton for rice paddy and jasmine rice respectively.