Bloomberg News

Thailand Set to Reduce Rice-Support Price by 20% (Correct)

June 19, 2013

(Corrects purchase limit to baht per family.)

Thailand National Rice Policy Committee approves 20% reduction to 12,000 baht/t in farmer support prices for white rice, Commerce Minister Boonsong Teriyapirom tells reporters. * Price cut effective from July 1 for second harvest of 2012-2013 * Rice committee will study possible price cut for 2013-2014 * Rice-price cut still needs approval from cabinet * Purchases from second harvest limited to 500,000 baht per family from June 20. * Thailand cuts price to reduce spending and rein in budget deficit

To contact the reporter on this story: Supunnabul Suwannakij in Bangkok at ssuwannakij@bloomberg.net

To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net


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