Jasmine rice prices likely higher this year

BANGKOK, Nov 6 (TNA) – Prices of jasmine rice and glutinous rice are likely to be higher this year as in-season rice produce is lower than expected due to flooding, said Agriculture Minister General Chatchai Sarikulya. The minister today presided over the meeting to forecast rice production this year with the Rice Department, the Office of Agriculture Economics, Thai Agriculturist Association, Thai Rice Mills Association and Thai Rice Exporters Association. The minister said the survey on rice production nationwide found that rice yields are less than earlier projected. About 7.1 million tonnes of Jasmine rice production will be released to the market, which is lower than 8 million tonnes, forecast at the beginning of rice cultivation season due to flooding. More than 5 million tonnes of glutinous rice will be released to the market lower than expected at 5.7 million tonnes. The Director-General of the Rice Department, Anan Suwannarat said the rice prices will be higher than last year because of lower-than-expected rice yields and the government’s measures to tackle rice prices such as loans offered to farmers to delay rice selling and other assistance. (TNA)