Prayut assures 18 million tons of rice stocks will be all released within his Government’s tenure

The prime minister yesterday assured that the remaining 18 million tons of rice stocks will be released within the tenure of his government.

The assurance came as Prime Minister Gen Prayut Chan-ocha opened Thailand Rice Convention 2017 yesterday.

The convention was attended by more than 1,000 participants made up of rice merchants, producers, exporters, the Thai Commerce Minister and Iraqi rice importers.

Gen Prayut voiced confidence that Thailand had the capability to become the leading producer and center of trade for high quality rice in the world.

He said the government plans to release all the remaining 18 million tons of rice stocks within the tenure of the current administration.

The government will be sticking to its plans to release remaining rice stocks in order to alleviate the current pressure on market prices.

He recalled that during the past 2-3 years, his government has already released 13 million tons out of the 18 million tons of rice stocks worth 100 billion baht.

He reiterated that the government will be releasing the remaining stocks within the current governments tenure and was confident that this will allow market mechanisms to readjust and return to normal levels.

In doing so, this will substantially reduce stocking costs which has been borne by the government.

Source: Thai Public Broadcasting Service (Thai PBS)

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