Thai Rice Exporters Association president Charoen Laothammatas said this year could be a good year for farmers as the price of paddy has risen sharply.

File photo of a farmer holding up a stack of money in a rice paddy field. PHOTO: THE NATION

BANGKOK – Drought has pushed up the wholesale price of rice this year. As of August 4, the price of jasmine rice ranged from 14,500 to 16,000 baht per tonne, according to Commerce Ministry. Glutinous rice ranged from 13,500 to 14,700 baht per tonne and Pathum Thani fragrant rice ranged from 12,000 to 13,000 baht per tonne.

However, the Department of Internal Trade reported that retail prices had remained stable. This year, the average prices of jasmine and white rice were 210 baht and 118 baht per bag, respectively, compared to 209 baht and 119 baht per bag last year.

The Rice Department expects paddy production this year to be 32.35 million tonnes, down 5.6% from 34.3 million tonnes last year, due to drought.

Thai Rice Exporters Association president, Charoen Laothammatas said this year could be a good year for farmers as the price of paddy has risen sharply.

The global price of white rice surged after India banned rice exports, he said, adding that it remains unclear how long the export ban will last.

Published Date: August 14, 2023