By Prensa Latina,
Bangkok : Experts in rice cultivation in Thailand, the world ó s number one rice exporter, estimated on Friday that prices will remain high for another decade because supply is insufficient to meet demand.
This perspective means farmers and enterprises should be supported, and investments should be made in research and development Dean Nipon Paupong-sathorn of Thammasat University Economy Department said in a Thai Rice Foundation seminar.
Nipon said he was in favor of subsidizing the supply of the most affected sectors and prevent interference or stopping of exports.
Another Thai expert, University of Kasetsart ó s Somporn Issavilanont said the high prices of agricultural products stem from biofuel policies by the US and European Union.
Somporn pointed out that the world rice reserve dropped to 60 million tons in 2007, from 140 million in 2001.
He predicted the prices for agricultural products will continue increasing for another 3 to 5 years, during which a strong demand of biofuels is expected.
This will not be a brief process, because the changes are structural, in the opinion of Thai expert Apiradee Tantaporn, director of the Department of Foreign Trade.