Expert predicts Thai rice pledging scheme to drive market prices up soon

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BANGKOK, 13 March 2013 An expert in agricultural economics predicts that the Thai government’s rice pledging scheme will soon help drive prices in the market up. 

Mr. Chai Watcharong, an expert in agricultural economics, commented that the government’s rice pledging scheme is a direct state intervention in the rice market, which is also a long-term investment plan to boost prices in the world market and elevate farmers’ livelihood.

He said that, under this scheme, the state budget will be distributed to many parts of the country while helping spur growth.

Mr. Chai reckoned that, while the government will sell rice supply under its control when the prices are right, its success can be measured by the benefits enjoyed by farmers across Thailand and higher rice prices.

He went on to say that the government should continue the pledging scheme for some more time as rice can be stored for a long period of time and there appear to be more than sufficient silos for the new lots of rice supply.

However, he suggested that farmers should receive advices on cost-cutting, productivity boost or agricultural zoning, all of which will enable farmers to better take care of themselves over the long run.