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Commerce Ministry steps in to rescue coconut farmers as prices plunge

Commerce Ministry steps in to rescue coconut farmers as prices plunge

10 Sept 21:31 Key points summarised by AI
  • Coconut prices have plummeted due to market oversupply, drought-affected low-quality yields, and processing plant capacity issues, leaving farmers with unpurchased crops.
  • The Commerce Ministry secured an agreement with coconut milk manufacturers to urgently absorb 8.8 million backlogged nuts from major growing regions.
  • Importers and processors are urged to temporarily defer scheduled imports, prioritizing domestic produce to alleviate the market glut.
  • The ministry will closely monitor purchasing activities and strictly regulate imports to safeguard local farmers' interests.
  • Long-term strategies aim to strengthen Thai coconut exporters' global competitiveness by upgrading production, ensuring consistent supply, and implementing traceability systems.
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