Col Kidakorn Chanthra said the move was part of the government and the Army’s policy of lending support to rice growers in the face of the current price slump.
In total, the Pha Muang Task Force purchased 3,500 kilograms of jasmine rice 105 from the farmers at a rate of 30 baht a kilo, which was higher than that usually offered by middlemen. The acquired grains will be cooked for consumption within the unit.
Chairman of the Chiang Rai Provincial Farmers Council Thinawat Khamngern expressed his gratitude to the soldiers for offering such a fair price to the local farmers. He said their assistance has lent moral support to the farmers as it prevented them from being affected by the price decline.
Thai’s benchmark 5-percent broken rice prices widened to $360-$365 a tonne on Wednesday, FOB basis, from $360 last week, but a trader in Bangkok said prices would remain stable as harvest was slowing.
Thailand’s rice exports are on track to meet the 2016 target of 9.5 million tonnes, the commerce ministry has said.
The average price of Thai 5-percent broken rice in January-November of 2016 rose 2.5 percent from a year ago to $398/tonne, FOB basis.