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Country Report Thailand Product Image

Country Report Thailand

  • Published: June 2013
  • 25 Pages
  • The Economist Intelligence Unit

The cost of Thailand's rice-price support programme is beginning to weigh heavily on both its international reputation and the credibility of its ruling party, Puea Thai. Given that global grain prices are expected to fall further in the coming months, the government risks facing even greater losses by holding on to its rice stocks.

The cost of the government's plan to support rice prices and raise the income of rural rice farmers has been a source of concern ever since it was introduced by the prime minister, Yingluck Shinawatra, in a show of populist bravado after her landslide election victory in 2011. The programme bought rice from local farmers at 50% above prevailing market prices. Thai policymakers bet that they could then stockpile the rice and drive up global prices, given that Thailand was the world's largest rice exporter at the time. It was a classic attempt to corner the international market for an important commodity. But Thailand did not count on other countries stepping in to make up the shortfall. India returned to the market after halting rice exports for several years. Major importers, such as the Philippines, had also stepped up their production in a bid to READ MORE >

Country Report Thailand

Rice row
Costs unclear
Losses to worsen

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Electronic (PDF) The report will be emailed to you. The report is sent in PDF format. This is a single user license, allowing one specific user access to the product.
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