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Successive governments have spent 1.2 trillion Thai baht ($33.85 billion) on price and income interventions for rice farmers in the last decade, estimates Somporn. ... to increase yields as well ...
In June 2011 rice prices were at record highs and Thailand was the world's leading exporter. The Yingluck promise was to buy unmilled paddy rice at 15,000 baht per tonne and premium hom mali rice at 20,000 baht per tonne, prices 50% or more above the market. The government moved to "buy every grain of [Thai] rice" [33] and store it.
While the rice crisis did occur at the same time as the 2007–2008 world food price crisis, Tom Slayton has argued the spike in rice prices are a special case. [2] Slayton argues that the price increases were a result of rising oil and petrochemical prices (peaking in July 2008); and export restrictions by a number of countries. [2]
Thailand's 54 sugarcane processing plants [23]: 2 were then short of 100 million tonnes of raw cane to meet demand. A ready market for sugarcane and the falling price of rice made changing crops irresistible. As a result, sugarcane plantations in Thailand increased from 9.5 million rai to 12 million rai between 2013 and 2019. [26]
Commenting on rice prices, the Singapore General Rice Importers Association (SGRIA) said it is keeping prices at the pre-flood levels for now despite a 5 to 10 per cent increase. Singapore imports 65 per cent of its rice from Thailand but it is not clear how much of it is from Hat Yai. [38]
Rice is central to Thailand's economy and culture. Cultivation occupies approximately 55 percent of Thailand's arable land and is the staple food across all income brackets. [8] Thailand in the 1970s invested heavily in infrastructure improvements, agricultural research, and road networks to increase its rice production. [8]
The Thai Ministry of Agriculture expected rice production to yield around 30 million tons of rice for 2008. [49] The most produced strain of rice in Thailand is jasmine rice, which has a significantly lower yield rate than other types of rice, but also normally fetches more than double the price of other strains in a global market. [48]
Prices for food items such as rice, beans, fruit and condensed milk have gone up 50 percent in Haiti since late 2007 while the price of fuel has tripled in only two months. [124] Riots broke out in April due to the high prices, and the government had been attempting to restore order by subsidizing a 15 percent reduction in the price of rice. [125]
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