Thailand Mandates Priority for Local Corn and Soybean Purchases
The Ministry of Agriculture has instructed private firms to prioritize purchasing domestic corn and soybeans before importing, aiming to protect local farmers' prices.
According to Prachachat Business, the Thai Ministry of Agriculture and Cooperatives recently held discussions with the US-ASEAN Business Council (USABC) and major American corporations to clarify regulations regarding the import of animal feed corn and soybeans. The Ministry emphasized that private companies must prioritize purchasing domestic produce at fair prices before seeking imports. Furthermore, imports are restricted to the off-season period to prevent market saturation that could depress local prices during harvest times. Cargill, a major player in the sector, has reportedly confirmed its commitment to suspending imports during the local harvest season. For residents and those involved in the agricultural supply chain, this policy aims to stabilize domestic market prices and support local livelihoods. While the government has set these clear expectations for international firms, the specific enforcement mechanisms and the exact timeline for monitoring compliance across all private importers remain to be confirmed. The move reflects a broader effort to balance international trade requirements with the protection of Thailand's agricultural sector.
