September 18, 2009

Thailand Cabinet approved the plan to distribute corn and cassava for domestic market and export purposes, deputy government spokesman Watchara Kannika said on September 17.

There were four purchasers who had standard qualifications and offered purchase prices over the standard price, Kannika said.

The price for export quotas for animal feed corn had been quoted at THB2,300-THB4,800 (US$68.26 - US$142.5) per tonne, with a total of 585,000 tonnes of corn, he said.

Meanwhile, the price for animal feed corn for the domestic market have been proposed at THB2,995 - THB4,900 (US$88.92 - US$145.13) per tonne, for a total of 377,800 tonnes.

For the domestic market, there are 44 purchasers with standard qualifications that offered purchase prices above the standard price.

For the cassava distribution plan, the purchasers have proposed approximately THB38 billion (US$1.15 million) for 89,000 tonnes of cassava exports. Meanwhile, they have offered more than THB440 million (US$13.02 million) to buy 113,300 tonnes for domestic release.

In addition, the purchasers agreed to buy cassava flour at THB553 million (US$16.4 million) for 70,000 tonnes for export purposes, and THB319 million (US$9.45 million) for 39,000 tonnes for domestic release.

The Cabinet agreed to extend the release of cassavas from the government stockpiles from every week to every 15 days, in order to control the amount of cassava in the market and its selling price, Kannika added.

US$1 = THB33.7168 (Sep 18)