Thailand to release 34 million tonnes of rice this year

5/29/2019 - 6:39:38 PM

The Rice Policy and Management Committee of Thailand has announced rice stock release plans and expects over 34 million tonnes of rice throughout this year.

The Rice Policy and Management Committee on May 27 approved a project to provide over 180 million THB in funding to help farmers with rice harvests and quality improvement costs for the 2016-2017 season.

Over 34 million tonnes of rice are expected throughout this year, no fewer than 10 million tonnes of which will be exported.

The Rice Policy and Management Committee, chaired by Prime Minister Prayut Chan-o-cha, approved in principle the integrated production and marketing plans for 2019/2020 season. The plans will be implemented with regards to the demand and supply mechanism, export, domestic consumption, industrial uses and seedlings. Rice production in targeted areas will be improved and promoted for the 2019/2020 season while domestic marketing will be developed and the rice harvest and quality improvement costs will be shared.

A total of 28,792 farmers have registered for the slowed rice harvesting and compensation pay project, which amounted to over 180 million baht for 2016/2017 season. The assistance measure will be submitted to the cabinet for approval on May 28th or next week at the latest.

Additionally, the Rice Policy and Management Committee acknowledged the Ministry of Agriculture and Cooperatives’ report on the projected production of over 34 million tonnes of rice throughout this year, accounting for a one to two million tonne increase from last year. The demands for export, domestic consumption, industrial raw materials and storing are projected to amount to 32.48 million tonnes, no less than 10 million tonnes of which will be bound for export.

Meanwhile, the Ministry of Commerce has released over 17.4 million tonnes of rice from its stock over the last few years with a small volume pending delivery.

The Marketing Organization for Farmers and Public Warehouse Organization are speeding up the release of rice from the untapped stock./.

Source: CPV

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