BAAC expects prices of agricultural products to rise in Feb
Several agricultural products will see rise in prices in February due to the improving Covid-19 situation and increased domestic demand during the Chinese New Year festival, according to the Research and Innovation Development Centre at the Bank for Agriculture and Agricultural Cooperatives (BAAC).
BAAC assistant manager Somkiat Kimaoha said on Friday: “Among the products that will see rising prices are unmilled jasmine rice at Bt12,104-Bt12,276 per tonne, a 3.09 to 4.55 per cent increase over January, while unmilled sticky rice will be at Bt11,073 to Bt11,721 per tonne, a 3.95 to 10.04 per cent increase,” he said. “Corn for animal feed will see a slight increase in price by 0.5 to 1 per cent to Bt8.15 to Bt8.19 per kg, as the export of cattle products is slowly recovering, while the price of sheet rubber will increase by 0.94 to 1.5 per cent to Bt53.85 to Bt54.15 per kg due to increasing demand in the glove manufacturing industry amid the Covid-19 situation which is still serious in many countries.”
The BAAC also estimated that tapioca price would rise by 0.5 to 2.97 per cent to Bt2.03 to Bt2.08 per kg, while oil palm price will rise by 0.57 to 2.72 per cent to Bt6.8 to Bt6.95 per kg following the easing of lockdown measures in many provinces that is expected to drive up demand for biodiesel in the transport sector.
“The Chinese New Year festival [starting February 12] will also drive up the prices of pork by 1.95 to 2.8 per cent to Bt76.39 to 77.03 kg,” he added
“Some products, however, will see decrease in price next month, such as white leg shrimp [Litopenaeus vannamei], which could go down to Bt132.15 to 136.15 per kg, falling 4.79 to 7.59 per cent from January due to decrease in demand for seafood during the Covid-19 outbreak, and the fact that people prefer buying chicken and pork during the Chinese New Year than shrimp,” added Somkiat.
