date:Jul 11, 2013
rnment announced a cut in the intervention price it pays to farmers. The price stuck near the lower levels even when the government did an about-turn and reinstated the original purchase price after protests from farmers.
The government pays 15,000 baht ($480) a tonne for rice, a figure traders estimate is 40 percent above the market price. Milling, storage and other costs suggest the government would need to get about $700 a tonne to break even.