News Forum - Thai rice redemption price drops ahead of farming season

[Thaiger]

The upcoming farming season in Thailand, set to start this month, is witnessing a significant drop in the rice redemption price. This sharp decline, according to the Thai Agriculturist Association, is primarily due to market mechanisms and an oversupply of rice, particularly a Vietnamese variety. Agriculturist Association President Pramote Charoensilp noted that during the first … …

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[Ramanathan.P]

How can be the price drop with major global exporter banning all the rice exports? Looks like someone is trying to make a quick buck in the middle. 

[Pinetree]

12 minutes ago, Ramanathan.P said:

How can be the price drop with major global exporter banning all the rice exports? Looks like someone is trying to make a quick buck in the middle. 

Yes, probably, its called operating a business and making a reasonable profit. in a volatile commodity market 

[Vigo]

Doesn't this usually occur? As harvests are expected there is a need to clear old inventory?

[Pinetree]

4 minutes ago, Vigo said:

Doesn't this usually occur? As harvests are expected there is a need to clear old inventory?

Yes.  Its been happening for at least the past 25 years, to my certain knowledge.