Thai Rice Trade Associations commit to stabilise retail prices despite market changes

Conversations between the Director-General of the Internal Trade Department and the Thai Associations of Rice Millers and Rice Entrepreneurs Association aim to stabilise rice prices, thus easing household expenses for consumers. Wattanasak Sueaiam, the Director-General, revealed yesterday that these industry bodies have been asked not to increase retail prices, despite market factors. However, ultimate decisions will be influenced by the cost of raw rice.

Monitoring of Thai rice prices marked the average price of a 5-kilogramme bag of jasmine rice at 210 baht, showing a stable price compared to the same time last year at 209 baht. Meanwhile, the average price of 100% white rice has gone down slightly, standing at 117.94 baht compared to 119 baht in the previous year. As for paddy rice, rates have slightly increased with jasmine paddy at 15,000 to 16,900 baht per tonne and white paddy at 12,000 to 12,500 baht per tonne. Nevertheless, shopping malls have not imposed higher prices, but are instead delivering cost reductions for continuous promotions.

The Thai Rice Millers Association confirms its commitment to steady supply to members of the Thai Rice Entrepreneurs Association, pledging to prevent any hitches in the production of packaged Thai rice to fulfil market demand.

Both associations will closely cooperate, ensuring no rice shortage. Nevertheless, should the need arise, the Department will coordinate with both associations to produce cheaper rice bags for retail via various channels, such as government-sanctioned mobile commerce, government premises or provincial shops. These measures provide options for consumers, however, it’s just a preparation and may not need to be activated in this situation, reported KhaoSod. Yongyut Pruekmahadamrong, President of the Thai Rice Entrepreneurs Association, said…

“Despite significant changes in the Thai rice market, especially with white rice, the association and its members aim to freeze prices fully in order not to affect consumers.”