Bangkok:Agricultural commodity prices in Thailand are showing positive trends as the prices of rice, rubber, cassava, and corn experience an upswing.
According to Thai News Agency, Deputy Prime Minister and Minister of Commerce Supajee Suthamphan has emphasized the importance of stabilizing the prices of these agricultural products. Efforts are underway to maintain the current high prices of rice, particularly during the main harvest season, which has already commenced in several regions. The Ministry of Commerce is also exploring additional export markets, although high domestic prices pose challenges in international competition.
The rubber sector is seeing its best prices in decades due to strong demand from major markets such as the United States and China. In contrast, cassava production is hindered by plant diseases, though prices remain stable. The Ministry is coordinating with the Ministry of Agriculture to address these production challenges.
Animal feed corn prices have risen above 9 baht, partly due to controlled import timing. Supajee emphasized the need to balance the system to prevent shortages that could affect meat and egg prices.
Additionally, excise tax reduction measures for biofuels like E20 and B20 are influencing agricultural commodity prices. These measures are expected to boost demand for raw materials like palm oil and sugarcane, supporting domestic bioenergy production.
Supajee announced plans for a joint press conference with the Ministry of Energy and the Ministry of Industry to inform farmers about purchase prices and quantities required for long-term planning. Furthermore, the Ministry of Commerce is set to discuss biofuel suitability for different engine types with relevant industry associations.
As agricultural prices rise, the Ministry is working to ensure that benefits reach farmers, thereby increasing rural household incomes while preventing excessive food cost increases. During flood risks, the Ministry coordinates with supply chain entities to prevent shortages and maintain consumer purchasing power.