Positive forecast for Thai crops
The Agriculture Ministry in Thailand has a “positive outlook” on next season’s agricultural crops. The positive forecast is the result of increased use of energy crops on the world market.
According to the Office of Agricultural Economics (OAE), the price of maize
will stay high despite higher production, while production of sugar cane is
expected to drop down from 73.5 million tonnes as farmers have shifted to
growing other lower-cost products such as tapioca and rubber.
Boosted by
the bio-diesel scheme, prices of palm oil are expected to stay high this year,
despite higher production of 8.45 million tones, while tapioca production is
expected to rise by 13% but prices may not be as high as last year’s 1.93 baht
per kg but with continued demand from the ethanol industry should average out at
about 1.70 baht per kg.
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