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Recent Flooding Hits Rice Harvest

11 November 2010

THAILAND - This year's rice production is expected to drop by about 20 per cent due to the massive flooding in the country.

Bangkok Post reports that the annoucement was made by Thai Farmers Association president, Prasit Boonchoey, today.

Mr Prasit said the country usually produces about 10 million tonnes of rice paddy per year. The extensive flood damage to rice fields is likely to cut the crop by about 20 per cent.

The drop in production would not cause shortages of rice, either for domestic consumption or export because the country still has a considerable amount of rice in stock.

Mr Prasit said rice prices are still in a favourable direction. The price of paddy is currently 9,000 baht (THB) per tonne, up from THB8,500 due to concerns over production both inside the country and abroad, since other rice-producing countries including Viet Nam, India and Pakistan have also been hit by natural disasters.

Therefore, the price may rise to as much as THB10,000 per tonne, but not as high as THB15,000 baht as some people may hope, he said.

"Tomorrow (Nov 12), there will be a meeting of all concerned to discuss prices and marketing," Mr Prasit said.

Mr Prasit said the government's plan to provide financial relief for flood-hit farmers at the rate of THB2,098 baht per rai [1 rai = 1,600 square metres] was good but authorities should watch out for people trying to make dishonest gains from this measure.

He said some people who had not really suffered damage have registered for help, causing a delay in relief payments to those actually affected, according to Bangkok Post.

TheCropSite News Desk

Rice, Markets/Economics

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