Wheat importers must also buy Thai corn

14.11.2016

In a move to curb tumbling corn prices the Thai government has decided that importers of wheat will have to purchase local corn. Nattaporn Jatusripitak, adviser to the Commerce Minister, said for one portion of wheat importers must also buy three portions of local corn at THB 8/kg, roughly USD 1.18/kg. Thai corn farmers are struggling following a significant drop in corn prices.

Feed producers prefer wheat to corn because the former is cheaper. Some 2.8 million tonnes of wheat were imported from January-September this year, compared to 3.9 million tonnes last year. Domestically grown corn with moisture content of 14.5% is priced at between USD 0.99 and 1.02/kg. Chicago wheat is USD 0.78/kg.


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