(Photo: Pattanapong Chatpattarasill)Oversupply of rice, the stronger baht, and a shortage of shipping containers are to blame for the falling price of Thai rice which has prompted farmers to demand the government step in to fix the problem urgently. Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, said the falling price of Thai rice was the result of a prediction that the production of milled rice would reach up to 20 million tonnes in the 2021/2022 harvest season due to plentiful water supplies, compared to the 2020/2021 output which was 16.5-17 million tonnes. Every increase in the baht's strength will make Thai rice exports more expensive by $16 per tonne. "Therefore, we hope the export figures will improve during the remaining months of the year, which will help release the remaining rice stocks," Mr Jurin said. Meanwhile, Pichet Chueamuangpan, a Pheu Thai Party MP for Chiang Rai, scattered rice during a parliament session to protest against the commerce minister for failing to answer his questions about falling price prices affecting farmers.

Source: Bangkok Post November 05, 2021 03:34 UTC