Rice traders ready to buy rice from farmers

BANGKOK, Oct 31 (TNA) -- Rice traders are prepared to buy fragrant paddy, widely known as Hom Mali which as Thailand’s premium grade rice, from farmers between 13,000 – 13,500 per tonne with an aim to also help the government, said Charoen Laothamatas, chairman of Thai Rice Exporters Association. Mr Charoen said traders aimed to buy altogether 100,000 tonnes and keep in warehouses for three months before start selling in the market. Traders are also prepared to pay for all the expenses before selling as they want to support the government in its attempt to maintain paddy prices for farmers. Mr Charoen said he is worried that fragrant rice amounting 6 million tonnes and will be harvested between November to next January would have its prices declining because it enters the market almost the same time. This year’s rice exports by Thailand are estimated at 9.5 – 10 million tonnes while it is projected at 10 million tonnes in 2016 although the country encountered severe drought. Commerce Minister Apiradi Tantraporn said her ministry has cooperated with the state-run Bank for Agriculture and Agricultural Cooperatives and the Thai Rice Exporters Association to assist farmers and to also maintain 2015/2016 seasonal rice prices by using several measures including reducing production costs and providing soft loans to farmers. The Commerce Ministry is confident that it would be able to maintain paddy prices at between 8,000 – 8,500 baht per tonne and for fragrant rice at between 13,000 – 13,500 baht a tonne, Ms Apiradi added. (TNA)