4 Factors determining the rice price that we should know!

March 25, 2020

            On the subject of rice price factors, many people may want to know what criteria are used to determine the price of rice for sale to be suitable according to the situation and fulfill consumers needs as well. This article will introduce you to these 4 factors determining the price of rice that we should know.

1. Drought
If the weather conditions are not favorable for rice cultivation such as drought, it will affect the amount of rice produced. As a result, the price becomes higher because there is not enough rice to meet the needs of the market. On the other hand, in normal situations farmers will get a good result if they sell paddy at a good price.


2. Export
If foreigners consume more HOM MALI jasmine rice, it will cause the market demand to increase. Together with the baht value also affects trading. If the currency appreciates or foreign customers have many rice options, the price may be normal. But if the currency is weak or foreigners tend to prefer HOM MALI rice, the market price is higher.


3. Neighboring rice prices
Because our neighbors rice is similar to Thai HOM MALI rice which may allow customers to choose other products. The annual output of rice from other countries that are exported therefore affects the price of Thai HOM MALI rice.


4. Special factors
Is a factor beyond control, such as disasters such as COVID-19, Indian desert locust, floods cause fewer produce The needs of people are also increasing.


            But no matter what happens ,Phayaayara brand jasmine rice promises to produce as high quality rice as possible and maintain export standards for Thai people because we produce “Thai rice for Thai people”.