Six crops to drive farm
The farm sector is forecast to grow by 3 per cent in line with the Kingdom's expanding overall economy, with six major crops showing a bright future, the Bank for Agriculture and Agricultural Cooperatives' Research Centre said yesterday. The six crops are
However, the prices of rubber and swine are forecast to decline next year.
Somsak Kangteerawat, executive vice president of the BAAC, said the research also found ongoing economic risks from the continued global slowdown, resulting in lower demand. The domestic market will become a driver of the country’s economy as rising wages increase purchasing power.
The predicted growth in the farm sector by 3 per cent next year will derive from higher production. In addition, there is growing demand in the Middle East and Africa driven by high purchasing power, and Thailand is targeting these new export markets.
Other factors that will support the farm sector include declining oil prices and interest rates, which will lower production costs.
Somsak said the price of cassava would be Bt2-Bt2.75 per kilogram next year, up 5-10 per cent thanks to rising demand to support production of feed meal and alternative energy. Maize will be priced at Bt9.5-Bt13 per kilogram, an increase by 2.5 per cent, thanks to higher demand in the food-processing industry.
Sugar cane will be traded at Bt14.40-Bt15.56 per kilo, while chicken increases to Bt45-Bt55 per kilogram, up by 2.9-3.2 per cent because of lower production. Shrimp will be quoted at Bt142-Bt146 per kilo, an increase by 5-8 per cent due to rising demand.
The price of 5-per-cent white rice will increase by 2.5-3.5 per cent to Bt13,500-Bt14,800 per tonne next year.
Meanwhile, rubber is expected to go for Bt79-Bt90 per kilogram, down by 3 per cent because of lower export to China, while swine will be quoted at Bt55-Bt58 per kilo, down by 3.5-4 per cent due to increasing supply.
The research also focused on the happiness of Thai farmers, and showed that they were mostly concerned about a stable income and the ability to avoid debt. They want to have their own homes with many crops surrounding them. Moreover, they want to have standard welfare, especially health insurance, high prices for their produce both locally and for export, and crop insurance to reduce risk from climate change.
Somsak added the research to be conducted next year would focus on the impact of global warming to provide farmers with information on how to manage their crops.
