Meeting on rice-pledging scheme on Monday

The National Rice Policy Committee will convene on Monday (March 11) to approve details of the rice-pledging scheme for the 2013 second crop.

Commerce Minister Boonsong Teriyapirom insisted that among the details, there is no plan to bring down the pledging price from Bt15,000 per tonne.

To criticisms that the government is proceeding with the scheme despite losses, he shot back that losses are anticipated and welcomed as long as farmers gain more from their output.

He added that because of the scheme, rice prices last year increased by about 10 per cent from the previous year.

Thailand will join a meeting of 5 rice-producing countries, including Cambodia, Laos, Myanmar and Vietnam, in Vientiane on March 28. They will discuss prices and marketing strategies. Thailand’s rice-pledging scheme is highlighted as a factor that makes Vietnam’s rice more affordable.