Commerce Min eyes forming new rice policy panel

The Ministry of Commerce is planning to ask the Government to consider forming the new National Rice Policy Committee (NRPC), which will help work out details of the rice pledging scheme.

Permanent Secretary for Commerce Yanyong Phuangrach stated that the Commerce Ministry would propose to the Government the establishment of the new NRPC within this month. Once members had been selected for the new panel, he said a meeting would be urgently convened to formulate a direction and a set of conditions for the rice mortgaging scheme.

The Permanent Secretary added that the meeting would also determine appropriate mortgage rates for other types of rice besides paddy and jasmine rice, which had been set at 15,000 THB and 20,000 THB per ton. The rates will possibly be set in accordance with the market prices.

Moreover, the NRPC will be given the duty of laying down guidelines for the release of the remaining 2 million tons of rice from the government warehouses. The Commerce Ministry is anticipating the release to be made in a gradual manner in order to avoid affecting the market price.