Bangkok: Thammanat, the Deputy Prime Minister and Minister of Agriculture and Cooperatives, has expressed confidence that the strategy to slow down rice sales will lead to price adjustments, particularly in jasmine rice.
According to Thai News Agency, Deputy Prime Minister and Minister of Agriculture and Cooperatives Lt. Col. Thammanat Prompao highlighted the rising price of paddy rice, attributing it to the Ministry's measures to limit rice entering the market simultaneously. The current trading price of jasmine rice is approximately 13,500 baht per ton, with expectations of it reaching 15,000 baht per ton due to sustained market demand.
Lt. Col. Thammanat stated, "The sales delay measure effectively cuts rice from the market during a period when prices are still unattractive, which has led to improved market mechanisms. Jasmine rice prices have begun to rise, potentially reaching 15,000 baht per tonne, while other rice varieties are expected to rise in line."
The Ministry of Agriculture is committed to closely monitoring the rice price situation. It plans to coordinate with relevant agencies to ensure that farmers receive fair returns and can plan their production schedules effectively.