Thai agricultural product price index fell 2.43% last month
Thai agricultural product price index dropped 2.43% last month
According to a November 17 report in Thailand's World Journal, Apiwat, Secretary-General of the Thai Agricultural Economics Office, revealed that in October this year, the agricultural product price index was 127.4, down 2.43% year-on-year and down 0.47% month-on-month. The main reasons were that overall agricultural product prices were abnormally high last year, and most of the major commodities that had driven the agricultural product price index higher fell in price, such as early rice, late rice, feed corn, cassava and white shrimp. However, the prices of many agricultural products were still higher than last year, including jasmine fragrant rice, glutinous rice, palm oil, rubber, pork, chicken and eggs.
In October this year, the agricultural product output index was 91.46, up 1.49% year-on-year, but up 13.05% month-on-month. The main agricultural products with increased output were late rice, feed corn, palm oil, chicken and eggs. The agricultural products with decreased output included cassava, pineapple, rubber and pigs.
Apiwat predicted that this month's late rice selling price will be slightly lower than in October, because the market volume of early rice is large, but with the support of the government's farmer income guarantee program, the decline in paddy prices will be limited. In October, the average selling price of 5% late rice reached 8,460 baht per ton, down 20.88% year-on-year. This month's market volume is forecast to reach 11,164,465 tons, or 47.99% of total production.
Apiwat estimated that the selling price of feed corn this month will rise compared with October, because the market volume fell in October. The average selling price was 5.18 baht per kilogram, up 22.57% year-on-year. This month's market volume is estimated at about 863,902 tons, or 19.42% of overall production.
Regarding cassava, it is predicted that in November this year, the price will be close to that in October. As for palm oil, this month's price will rise along with crude palm on the international market. In October this year, it was 3.25 baht per kilogram, up 19.49% year-on-year.
Apiwat believes that this month's rubber price will continue to rise. In October this year, it averaged 67.41 baht per kilogram, up 23.67% year-on-year. It is estimated that this month's pork price will be similar to that in October; this month's chicken selling price will also not change much, averaging 39.46 baht per kilogram.
In October this year, the agricultural product output index was 91.46, up 1.49% year-on-year, but up 13.05% month-on-month. The main agricultural products with increased output were late rice, feed corn, palm oil, chicken and eggs. The agricultural products with decreased output included cassava, pineapple, rubber and pigs.
Apiwat predicted that this month's late rice selling price will be slightly lower than in October, because the market volume of early rice is large, but with the support of the government's farmer income guarantee program, the decline in paddy prices will be limited. In October, the average selling price of 5% late rice reached 8,460 baht per ton, down 20.88% year-on-year. This month's market volume is forecast to reach 11,164,465 tons, or 47.99% of total production.
Apiwat estimated that the selling price of feed corn this month will rise compared with October, because the market volume fell in October. The average selling price was 5.18 baht per kilogram, up 22.57% year-on-year. This month's market volume is estimated at about 863,902 tons, or 19.42% of overall production.
Regarding cassava, it is predicted that in November this year, the price will be close to that in October. As for palm oil, this month's price will rise along with crude palm on the international market. In October this year, it was 3.25 baht per kilogram, up 19.49% year-on-year.
Apiwat believes that this month's rubber price will continue to rise. In October this year, it averaged 67.41 baht per kilogram, up 23.67% year-on-year. It is estimated that this month's pork price will be similar to that in October; this month's chicken selling price will also not change much, averaging 39.46 baht per kilogram.