Thailand imports US GMO corn, mills fear price drop

Thansettakij•Economy•21d ago

Reader Briefing

Thai rice mill association raises concerns over potential US GMO corn imports impacting domestic agricultural prices.

•Newscirculates about a potential deal for Thailand to import 1 million tons of US GMO corn.
•The Thai Rice Millers Association expressed concerns that this import could drive down domestic agricultural prices, particularly for paddy.
•Association president Banjong Tangjittrangkul believes Thailand has sufficient feed ingredients and questions the necessity of the import, citing past price drops for rice bran and broken rice.

Overview

•There are circulating rumors regarding a trade negotiation visit by the Deputy Prime Minister and Minister of Commerce to the USA, with a focus on potentially signing a contract to purchase 1 million tons of GMO corn.
•The President of the Thai Rice Millers Association, Banjong Tangjittrangkul, stated that the association has not officially received any information about this matter.
•Banjong Tangjittrangkul expressed a personal opinion that the import is unlikely, as the current stock of animal feed ingredients in Thailand is already sufficient for producers.
•The import of US corn is feared to depress the prices of domestic agricultural products, particularly paddy, rice bran, and broken rice.
•In November of the past year, rice bran prices dropped to just over 6 baht per kilogram, causing paddy prices to fall to 6,200 baht per ton.
•Banjong Tangjittrangkul believes the Minister of Commerce will not continue a policy from the previous government, especially after a US court ruling that cancelled taxes and refunded money to businesses in several countries totaling 5 million US dollars.
•The Thai Rice Millers Association maintains that current imports of food and animal feed products, totaling 18 million tons, are already substantial and additional corn imports are unnecessary.
•The association advocates for reducing imports and finding ways to increase the prices of domestic agricultural products like paddy, rice bran, and broken rice, proposing that Thailand should implement value-added taxes and difference taxes on agricultural imports, similar to other countries.

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Source: Thansettakij (Original)

Key Quotes

Banjong Tangjittrangkul

"Personally, I don't think it's likely because since taking office as Minister of Commerce for several months, I believe she already knows that animal feed ingredients in Thailand are quite plentiful and sufficient for animal feed producers."

ความคิดเห็นส่วนตัวไม่น่ามีโอกาสเป็นไปได้ เพราะตั้งแต่ที่ท่านได้ดำรงตำแหน่งรัฐมนตรีว่าการกระทรวงพาณิชย์มาเป็นเวลาหลายเดือน คิดว่าท่านคงทราบอยู่แล้วว่า วัตถุดิบอาหารสัตว์ในประเทศไทยนั้น ค่อนข้างมีเยอะและเพียงพอต่อการใช้ของโรงงานผู้ผลิตอาหารสัตว์

Banjong Tangjittrangkul

"If US corn is imported again, it will depress prices of agricultural products, especially paddy, which has by-products like rice bran and broken rice, leading to a price slump."

หากมีการนำข้าวโพดของสหรัฐอเมริกาเข้ามาอีก จะทำให้กดทับราคาจนพืชผลทางการเกษตรในระบบ โดยเฉพาะข้าวเปลือก ซึ่งมีโปรดักส์ร่วม เช่น รำข้าว ปลายข้าว เกิดภาวะราคาตกต่ำลง

Banjong Tangjittrangkul

"Especially in the sugar and rice categories, which causes pain and significantly impacts farmers."

โดยเฉพาะในหมวดน้ำาตาลและข้าว ซึ่งนับเป็นความเจ็บปวดและส่งผลกระทบต่อเกษตรกรชาวนาชาวไร่ เป็นอย่างมาก นั่นเอง

Key Entities

Person

Banjong Tangjittrangkul(นายบรรจง ตั้งจิตรวัฒนากุล)

President of the Thai Rice Millers Association, who voiced concerns about potential US GMO corn imports.

Supachai Suthumphan(นางศุภจี สุธรรมพันธุ์)

Deputy Prime Minister and Minister of Commerce, rumored to be involved in trade negotiations for US GMO corn.

Place

United States(สหรัฐอเมริกา)ℹ️

The country from which Thailand is rumored to be importing 1 million tons of GMO corn.

Organization

Thai Rice Millers Association(สมาคมโรงสีข้าวไทย)

An organization that has expressed concerns regarding the potential impact of US GMO corn imports on domestic agricultural prices.