Thailand Commerce Minister Gen Chatchai Sarikulya has delayed the next rice auction from government’s stockpile to avoid bringing down of Thai rice prices during the harvest season.
He said that paddy prices have declined during the second harvest season and he had delayed the auction so as to protect the prices from being even lower.
According to Office of Agricultural Economics, the price of ordinary white rice with moisture content 15% in Phitsanulok was 7,800 baht a tonne on Friday, and Hom Mali rice in Surin was at 13,000 baht.
He said that they are expecting the price to be rise in the near future as Thailand has won a deal to provide 200,000 tonnes of rice to Philippine and Foreign trade has decided to sell 2 million tones of rice to China.
Gen Chatchai said the ministry had ordered the setting up of 60 central farm markets nationwide to provide a direct marketing channel for farmers and ensure they get fair prices.