In Bang Krathum district of Phitsanulok,Thailand a rice farmer was cunningly deceived by a expected buyer who made her grow a breed of rice and later on did not show up.
Sirimanee Maneethapho, a new-generation farmer in tambon Tha Tarn of Bang Krathum district, said “she and her friends had been contacted by a middleman to grow Hom Nil rice in the previous crop with a promise of getting 10,000 baht a tonne for unmilled rice”.
The middleman sold seeds to her saying that the rice would be sold to health-conscious consumers. However, once the rice was harvested, the middleman did not show up to buy the rice as promised.
Ms Sirimanee said “at that time she was in urgent need of money to care for her sick mother so she decided to try advertising Hom Nil rice on Facebook”.
The farmer then choose Facebook to sell her Hom Nil rice, a kind of black fragrant variety, and amazingly she sold almost five tonnes at much higher than expected price within three months at around 30,000 baht each.
Fragrant rice and riceberry that will be harvested in November. She is already booked with orders of fragrant rice, sold at 35 baht a kg and riceberry at 70 baht a kg. Since 2010 rice prices have fallen to their lowest, as the angle for a jump in US production and increased exports from overseas are sign of enough supplies.
Prices have dropped 19% this year, resulting in highest loss since 2001 and helping keep a cap on global food costs, which had fallen for six months in September as per United Nations. The Bloomberg Agriculture Index of seven commodities fall the most in last quarter since 2008 as the USDA projects joined global output of rice, corn, soybeans and wheat will lead to a record this season.
Revealing prices are “a signal that we have plenty of rice,” Dwight Roberts, president of Houston-based US Rice Producers Association, said in interview with Bloomberg at a conference in Bangkok today.
Rough-rice sepected for January delivery fell 1.4% to close at copy2.305 for 100 pounds at 1.15pm on the Chicago Board of Trade.Prior, prices dropped by the exchange limit of copy.10 to copy1.375, the lowest for a most-active contract since September 2010.