Thai farmers urged to go bananas for ripe returns
The Government of Thailand is urging beleaguered Thai farmers to pivot to bananas from rice as a strategy to bolster their earnings amidst plummeting rice prices.
Commerce Minister Pichai Naripthaphan dropped the fruity bombshell while addressing People’s Party MP Narongdech Ularnkul’s concerns about rice price stabilisation.
“A rice oversupply is crushing prices, and bananas could be the alternative farmers need. With high yields and soaring demand in international markets like Japan, where the appetite for bananas tops one million tonnes annually, it’s a no-brainer for those wanting to cash in.”
At present, Thailand’s banana output is a paltry 8,000 tonnes per year, with a mere 2,000 tonnes earmarked for export. Pichai sees a golden opportunity ripe for the picking for Thai farmers.
Yet, scepticism lingers. Narongdech has voiced his doubts, urging Pichai to get the nod from the Agriculture and Cooperatives Ministry before luring farmers from their rice paddies to banana groves. He lambasted Pichai for dodging the real question and challenged the government’s sincerity in aiding farmers.
Narongdech didn’t hold back, highlighting that Finance Minister Pichai Chunhavajira—a role traditionally reserved for the prime minister—now leads the National Rice Policy and Management Committee, a move he claims signals the Generation-Y prime minister’s indifference towards the farming community’s plight.
Amidst the banana drama, Pichai reassured efforts are underway to offload rice stockpiles, as negotiations with buyers in China and African nations grind on. Talks with India and Vietnam are also on the cards, aiming to shore up rice prices.
To sweeten the deal, Pichai has cooked up a proposal to pep up rice prices by doling out an extra 1,000 baht per tonne for off-season rice, a plan set for a head-to-head with the Cabinet next week, reported Bangkok Post.
Meanwhile, according to the Internal Trade Department, farmers can expect around 9,500 baht per tonne under the current market climate.
Latest Thailand News
