Reducing rice exports unlikely to impact domestic price: Internal trade office

The move follows the reduction in 2019 rice exports by the Rice Exporters Association from 9.5 to 8.5 million tonnes. “For example, we will urge farmers to postpone selling harvested rice until the price goes back to normal levels,” he said. “It should not take long since we have no rice left in stock and consumer’s demand is rising steadily.”
Wichai further explained that one of the factors behind the association’s decision to reduce export volume was the strength of the baht, making the price of rice unfavourable to importers such as China, the EU and US. “It is not only rice exports that are affected by the baht appreciation, other agricultural products are too,” he said. “To solve this issue, the Bank of Thailand must urgently introduce monetary measures to weaken the baht.”
The director-general added that the reduced export volume should not affect the price guarantee scheme, since currently only the price of white rice is spiking, while the rest remain within normal range. “Next week the reference price committee will announce the first batch of reference prices, and by October 15 will deliver the funds to farmers who previously registered under the scheme,” said Wichai.
Five types of rice are guaranteed under the scheme with the following conditions: Hom Mali rice from the Northeast is guaranteed Bt15,000 per tonne up to 14 tonnes per household, Hom Mali rice grown elsewhere is guaranteed Bt14,000 up to 16 tonnes, round-grain rice is guaranteed Bt10,000 up to 30 tonnes, Hom Pathum Thani rice is guaranteed Bt11,000 up to 25 tonnes, Glutinous rice is guaranteed Bt12,000 up to 16 tonnes.
“If farmers grow more than one type of rice, the combined quantity must not exceed the maximum limit for the type with the highest limit,” Wichai explained.