Besides, production cost of Thai farmers is also the highest among other rice growing countries in ASEAN.
According to the survey of the Centre for International Trade Study of the University of Thai Chamber of Commerce, Thai farmers have the least profit from rice sales because of higher production cost.
It said production cost/ton of rice paid by Thai farmers is 9,763.40 baht while rice harvest yields 450 kilograms per rai.
They obtained 11,319.37 baht/ton from rice sale. After cost deduction Thai farmers earned just 1,555.97 baht as net profit from a ton of rice sold or 28,035.50 baht earning per year, or 51.08% less than Vietnamese farmers.
For Vietnamese farmers, the survey found that production cost is 4,070.76 baht/ton while rice yield is 900 kilograms/rai.
Vietnamese farmers get 7,215.50 baht/ton from rice sales. But after cost deduction, they earned 3,180.74 baht/ton from rice sales, or 54,217.23 baht per year.
Earnings of Thai farmers are also lower than Myanmar farmers.
It said Myanmar farmers have rice production cost of 7,121.76 baht/ton, but they get 10,605.86 baht/ton from rice sales. After cost, they still have 3,484.1 baht as profit, or 55.34% higher than Thai farmers earnings.