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Agricultural Commodity Prices Rise
Supajee Suthumpun, Deputy Prime Minister and Minister of Commerce, revealed that the Ministry of Commerce has implemented a plan to ensure sustained, favorable prices for agricultural commodities. She noted that the recent improvement in the prices of various agricultural products did not happen by chance; rather, it is the result of collaborative efforts with the Ministry of Agriculture and Cooperatives. By integrating mechanisms across the entire supply chain—starting from the source—the Ministry of Agriculture and Cooperatives has focused on quality control, sorting, storage, distribution, and the expansion of export markets. Consequently, the prices of key Thai agricultural commodities have risen. For instance, rice prices are currently high, and the aim is to maintain these levels throughout the ongoing main-crop rice harvest. Given that higher prices can sometimes pose challenges for exports, the entire supply chain—including farmers, traders, consumers, and export markets—must be considered to ensure that all stakeholders benefit.
Meanwhile, rubber prices have reached their highest level in a decade, driven by strong exports of rubber-based products. The United States has emerged as a major buyer, alongside China and other nations that import both raw and processed rubber. By successfully integrating Thai products into the global supply chain, prices have been bolstered. Other agricultural commodities—such as oil palm, fresh fruit bunches, and cassava—have also seen price increases, partly due to excise tax reductions for products used in the production of biofuels, such as biodiesel and gasohol. This has similarly driven up prices for cassava and animal-feed corn. Moving forward, the focus must remain on increasing yields per rai and ensuring that moisture content meets established standards. For agricultural commodity prices to remain sustainable, one cannot look solely at the end of the chain; the entire system, starting from the source, must be addressed—a process that requires continued cooperation with the Ministry of Agriculture and Cooperatives.
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