Thailand approves pledging price of 9 baht/kg for corn, stresses need for transparency in rice pledging scheme

October 2, 2013 () – The Cabinet has approved the pledging price of 9 baht per kilogram for corn. Meanwhile, Prime Minister Yingluck Shinawatra has stressed the need for transparency in the rice pledging scheme.

According to Deputy Prime Minister and Minister of Commerce Niwatthamrong Boonsongpaisan, the Cabinet has resolved to buy corn from farmers to shore up the prices, which have plunged to under five baht per kilogram.

The price for corn with 30% moisture content has been set at 7 baht/kg, whereas corn with 15% moisture content will fetch 9 baht/kg.

Meanwhile, Prime Minister's Office spokesman Teerat Ratanasevi reiterated that the Prime Minister has demanded transparency in the current rice pledging scheme of the 2013/2014 season. Farmers are expected to register for this year's rice pledging at the end of October.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.