Rice pledging price to be maintained at 15,000 per ton

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BANGKOK, 27 August 2013 The national rice policy committee resolved to maintain the pledging price for white rice paddy in the 2013/2014 production season at 15,000 baht per ton, but reduce the pledging ceiling to 350,000 baht per household.

Commerce Minister Niwatthamrong Bunsongphaisan, as chairman of the committee, expects that no more than 270 billion baht will be required for the mortgaging of rice next season, which starts in October. The pledging price for off-season rice meanwhile has been set at 13,000 baht per ton.

About 18 million tons of rice paddy is expected to be pledged for the season. The new criteria for rice pledging is expected to help reduce the government’s losses incurred from the mortgage program to between 80 and 100 billion baht.