Thai government carries on rice management policy

BANGKOK, March 29 (TNA) - The Thai government will proceed with its rice management policy, under which the supply of rice is limited to meet the market demand, aimed to prevent the problem of oversupply and to boost the prices of rice of various strains. Permanent Secretary for Commerce Nuntawan Sakuntanaga told journalists of the decision on Thursday, after a meeting of the National Rice Policy and Management Committee (NRPMC) at Bangkok's Government House, chaired by Thai Prime Minister General Prayut Chan-ocha. Nuntawan said the NRPMC's decision followed a finding in a latest study that there were good fruits from the government's rice management policy last year when the prices of Thai rice considerably increased, especially those of the Hom Mali rice. Nuntawan noted that the policy on limiting the rice supply includes assistance measures provided to local farmers to further improve their rice quality, to reduce their rice produce, to delay their rice sales and to compensate for their longer storage of rice in terms of the payment of their lending interests. The senior official revealed that the policy implemented last year helped cut rice supply by more than 500,000 tons, to about 30.45 million tons totally, as about 66.01 million rai of rice fields nationwide were reduced (2.5 rai = 1 acre). According to the senior official, Thursday's meeting also initially set Thailand's targeted rice supply for the 2018/2019 harvest at 30.525 million tons totally, with 14.69 million tons for exports, 12 million tons for domestic consumption, 2.4 million tons for industrial use and 1.389 million tons for breeder seeds. "Thailand's targeted rice supply for the 2018/2019 harvest comprises of 6.419 million tons of Hom Mali rice, 1.609 million tons of other Thai fragrant rice, 15.232 million tons of white rice, 7.004 million tons of glutinous rice and 260,000 tons of specific rice, namely organic grains", the senior official told reporters. The senior official acknowledged that there has been steady demand for Thai rice on the world market with increasing prices, including a government-to-government (G-to-G) lot set to be delivered to the immense Chinese market next month. (TNA)