Thailand raises guaranteed prices of rice paddy

BANGKOK, March 7 (Xinhua) -- Thai government on Monday raised its guaranteed prices of rice paddy in response to rising production cost of farmers, a senior official said.

The national rice policy committee meeting chaired by Prime Minister Abhisit Vejjajiva decided to increase its guaranteed prices of rice paddy to 11,000 baht (360 U.S. dollars) per ton from the current 10,000 baht (328 dollars), according to Yangyong Phuangrach, permanent secretary to the Commerce Ministry.