Analysis of factors affecting export prices of Thai rice
1996
Chanuttha Yusenas
Rice is a Thailand important economic crop. It is not only a major source of farmer incomes, but also a main source of agricultural export earning. Consequently, Thailand is a leading rice export country. Presently, the world rice trade has been transformed from a selling market to a buying market which simulate a more competition in both price and quality. The study is aimed to investigate factors affecting on Thai rice export prices by employing secondary data from related government offices and various statistic materials. The result indicates that the price flexibility between Thai rice 100 percent No.2 and US rice No.2 has insignificant effect with inverse relationship, implying that in the high quality rice market the US rice No.2 is not a competition with the Thai rice 100 percent No.2. However, for Thai rice 25 percent (super) which is a low quality rice, the increase in export rice supply from China inversely affected on the Thai rice export significantly. However, the effect is not strong due to an inelasticity of rice exported price with respect to the China's rice exported quantity. Furthermore, the income of imported country positively affected on the exported price of high standard Thai rice but it inversely affected on the exported price of low standard rice. In relation to the domestic supply of Thai rice, this factor affected negatively with the exported price of Thai rice in all exported rice standard. The higher the exported rice standard, the higher the exported price elasticity. Since the market of low standard rice is more competitive than the market of high standard rice, it is necessary for Thailand to have a policy toward the improvement of high quality and standard rice production.
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