Selling price of unrefined rice may increase to 20,000 THB for farmers

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BANGKOK, 22 August 2011 -Commerce Minister Mr. Kittirat Na Ranong said the price of unrefined rice was expected to increase higher than the mortgage rates, adding that he could not be sure whether it would exceed 20,000 THB per ton or not.

Meanwhile, Mr. Kittirat said the government would quickly implement the 300 THB wage scheme and the 15,000 THB salary for new graduates. He expressed his belief that the private sector would adapt well to the change, adding that the government would seek ways to help them cushion the impact on their financial situation. One of several ways would be via tax incentives.

As for the price of rice guarantee scheme, he said the government would rely on the market mechanism while the price is continuously rising, it might not have to make a big budget cut compared to the past. However, it is not certain at this point if the price will go beyond 20,000 THB per ton or not.