Bangkok (VNA) – The Thai government hasrecommended farmers not to increase rice production despite rising prices.
Data from the Thai Ministry of Commerce showthat prices of Thai rice have risen significantly, especially Hom Mali ricewhich is now sold at 17,000 THB (543 USD) per tonne – the highest in five year.
The increase in rice prices can be attributed toa lower supply, following recent natural disasters, amid increasing exportdemand.
The country shipped 1.2 million tonnes of milledrice, up 16.5 percent year on year, worth 578 million USD in January.
The Thai Rice Exporters Association (TREA)forecasts the export volume at 9.5 million tonnes of milled rice this year,easing from a record high of 11.6 million tonnes in 2017 due to the strong THB.
TREA President Charoen Laothammatas alsoattributed the prediction to low rice stockpiles and a decline in the Hom Malirice output due to unfavourable weather conditions.
The Agriculture Ministry forecasts riceproduction for the 2018 season at 30 million tonnes of paddy rice or 22-23million tonnes of milled rice, similar to last season. Milled Hom Mali riceoutput is forecast at about 7 million tonnes.-VNA
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A Thai farmer harvests rice (Photo: Thai Visa)
