Rising rice prices lower volume
Rising prices in both the domestic and world markets have lowered the volume of rice under the government's rice-pledging programme, which has reached only 1.37 million tonnes of paddy rice despite a projection of 7.5 million tonnes by the end of next month.
Commerce Minister Krirk-krai Jirapaet said yesterday that the rice volume accounted for only 20 per cent of the target. The four-month programme for the 2006-07 harvest season started last November 1. In the same period last year, the total volume reached 4.5 million tonnes.Krirk-krai said it was not surprising that rising prices had reduced the volume but there was no corruption to report, as in the past. He added that increasing rice prices in the market had allowed the ministry to hold its rice stockpile longer. However, the ministry can also release its stock whenever market demand climbs up. In particular, rice prices moved upwards last Tuesday: jasmine paddy rice increased Bt1,300 to Bt1,700, reaching Bt8,700 to Bt9,300 a tonne; sticky paddy rice Bt4,200 to Bt4,500, reaching Bt11,200 to Bt11,400; Pathum Thani rice Bt400 to Bt700, reaching Bt7,200 to Bt7,300; and 5-per-cent broken price remained unchanged. The ministry also said all rice prices in the market were higher than those offered under the rice-pledging programme. The Nation
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