Bagged rice prices expected to increase by 5-10 baht per pack

0
358

BANGKOK, 11 August 2014  – The prices of five-kilogram bags of rice will be pegged at between 80-130 baht per pack until the end of November, in line with the National Council for Peace and Order (NCPO)’s policy to help reduce the cost of living. However, their prices are expected to increase after that period.

According to Somkiat Makayathorn, President of the Thai Rice Packers Association, the prices of bagged rice weighing five kilograms could increase by 5-10 baht per pack after November.

He stated that the new lot of rice to be distributed to the market could fall short of demand and the production output for off-season rice has declined in general, which could cause rice prices to increase.

Nonetheless, the prices of Jasmine rice are expected to decrease due to a large production output. Besides, Thai Jasmine rice prices remain relatively higher than those of other countries, which would lead to lower exports. For this reason, prices of Jasmine are set to drop slightly, indicated the Association President.