Higher rice prices for farmers this year
The country’s major rice exporter says Thai farmers will fetch higher prices for their crops this year as more rice will be exported and prices are increasing.
Thai Rice Exporters Association president Chukiat Opaswong said high rice price was projected this year as the Thai jasmine rice price was rising and expected to reach US$ 750-780 per ton.
He said 5 percent broken white rice would be sold at US$ 390 per ton and parboiled rice price at US$ 410 per ton.
The price of paddy rice was also expected to be 8,500-9,000 baht per ton, higher than the previous year’s 6,000-6,500 per ton.
The higher prices would help Thai farmers to gain more income from the selling of rices, he said.
As for the Thai rice outputs this year, it was expected that the overall production would reach 18.5 million tonnes, two million tonnes higher than the previous year.
There was also bright prospect in term of rice export. It was expected that Thailand could export more than 10 million tonnes, worth 160 billion baht, higher than the previous year.
In 2016, Thailand could export 9.87 million tonnes, worth 154 billion baht.
With the projected export of over 10 million tonnes, he said Thailand could reclaim its status as the world’s largest rice exporter this year.
The post Higher rice prices for farmers this year appeared first on Thai PBS English News.