Thailand Ministry to keep rice prices steady.

The Commerce Ministry is brainstorming policies to stabilise paddy prices ahead of the harvesting season in the third quarter of the year, when 24-26 million tonnes of paddy are due to flood the market and depress prices. Government plans to use the existing price supporting scheme, for which the state-owned bank offered soft loans with a 3% interest rate to millers and local traders to encourage them to stock up on paddy during the harvesting season, both helping farmers while preventing the crop from flooding the market.