June 18, 2013 / 1:41 AM / 4 years ago

Thai cabinet to discuss cut in rice price - minister

BANGKOK, June 18 (Reuters) - The Thai cabinet will on Tuesday discuss a cut in the rice intervention price in the next 2013/14 crop to between 12,000 and 13,500 baht per tonne from the current 15,000 baht ($490), the commerce minister said.

“We plan to cut the intervention price and limit the amount of rice we will buy because we want to maintain fiscal discipline. We don’t want to put a huge burden on the country’s budget,” Commerce Minister Boonsong Teriyapirom told reporters late on Monday.

The cabinet will discuss a proposal to limit the amount of rice it will buy under the intervention scheme to around 14 to 15 million tonnes in the next crop from October, he said.

In 2011/12 the government said it would buy all the grain offered to it. In the current crop year, it started by offering to buy an unlimited amount but later excluded some low-grade varieties. ($1 = 30.6550 Thai baht) (Reporting by Apornrath Phoonphongphiphat; Editing by Alan Raybould)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below