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Thailand to Extend Rice Price Guarantees in 2021-22 Season

Thailand White Rice Jasmine

The government plans to allocate 80 billion baht to extend its rice price guarantees in the 2021-22 season for the annual scheme operating for the third consecutive year, and 8 billion baht for price stability.

Commerce Minister Jurin Laksanawisit said the National Rice Policy Subcommittee on marketing agreed to continue the rice price guarantee scheme, using the same criteria as the previous season, as well as measures to maintain rice price stability. The decision will be submitted to the National Rice Policy Committee meeting chaired by the prime minister, then sent for the Cabinet approval.

According to Jurin, Thailand is expected to produce as much as 26 million tons of paddy in the 2021/22 season running from October to February next year, up 4 percent from the current season due to sufficient rainfall and higher plantation as Covid-19 caused farm workers to return to their family homes and grow more rice.

The minister added that he ordered the Foreign Trade Department to speed up talks with China on purchasing more rice through a government-to-government deal after China agreed to buy 20,000 tons of white rice from Thailand in June.