Drought pushes up wholesale prices of rice in Thailand, Illustrative image (Photo: AFP)

Bangkok – Drought has pushed up the wholesale prices of rice in Thailand, said the country's Ministry of Commerce.

As of August 4, the price of jasmine rice ranged from 14,500-16,000 THB (422-453 USD) per tonne while that of glutinous rice and Pathum Thani fragrant rice was 13,500-14,700 THB and 12,000-13,000 THB per tonne, respectively.

However, the Department of Internal Trade reported that retail prices remain stable.

The Rice Department under the Thai Ministry of Agriculture and Cooperatives estimated paddy production this year at 32.35 million tonnes, down 5.6 per cent from 34.3 million tonnes last year, due to drought.

Meanwhile, President of the Thai Rice Exporters Association Charoen Laothammatas said this year could be a good year for farmers as the price of paddy has risen sharply.

The global price of white rice surged after India banned rice exports, he said, adding that it remains unclear how long the export ban will last.