April 14, 2008

Thailand farmers gain from record corn prices

Grain farmers of Thailand are profiting from rising corn prices in the global market, while animal feed traders reel from high input costs.

The Thai Feed Mill Association said that the corn price at the Chicago market has risen to approximately US$6 per bushel, driving the corn prices in Thailand and other Asian countries accordingly.

Animal feed traders, on the other hand, have to bear the skyrocketing corn prices, as corn is one of the key feed ingredients.

The Department of Internal Trade disclosed that the average price of corn feed in Thailand in 2003 was THB5.46 (US$0.17) per kilogramme while its average price last year stood at THB7.99 (US$0.25) per kg, or 46.25 percent higher.