 So, what we are saying is, this is very achievable target to feed the world, we are not, we do not want 2-3% yield growth in the world. If we have a technology that will give you 2-3%, the area will go out and the area can be going to natural habitat or the productive use. But if we don't have too many kind of rates in the technology, this is the yield growth which will be required to feed the world and keep price, price and affordable price. Thank you very much. Next, our last and final speaker is Mr. Vichai Sifrasad, the founder and president of Rice Land International. He's in a business, he's a family business, often in rice business, back in the 1930s. And since its founding in 1970s, Rice Land International has been exporting premium parabolic rice worldwide and it's been top 5 parabolic rice exporter in Thailand. May I invite Mr. Sifrasad to take the floor and to share his title of his talk on Thai rice market outlook. Thank you, Dr. Pang. As you know, I'm a businessman and I often come to a conference like this to look at chart and statistics and I try to think about it, you know. What should I do? Should I buy today or should I not buy today? That's what I normally do. And when I do something wrong, I say well, maybe professor didn't give me the proper guidance so I feel a little bit better. But to tell you, there are so many things in here. If we were to use common sense, we would know that it's not possible to listen to any of the statistics. Fine? Just look at the oil price. Now today our oil price is probably around $87 or so and we learned that at this level, there will be competition for land, for water. Some of it will be diverted to go energy plant, some of it for food. Now when you compete between food and energy, is there any chance that food can command anything? The statistics that I learned from one of the conferences, I still remember, they said 100 kilos of corn can produce 100 liters of ethanol or something like that. And they said that 100 kilos of corn can feed the human being for a year. To my thinking, you feed your car, it lasts a couple of days for 100 liters. The most you can use it for maybe 2-3 days. But for human being, it lasts you a year. Now if that statistic is correct, there's no way that the food will prevail. All will be consumed by cars, right? So prices cannot be stable like they're suggesting that the projection that the rice is going to be somewhere around $400 per ton. It's not possible because all the land and water will be taken away by energy plant. That just common sense to me, but I keep listening to each conference just to see how to make good use of the information that the experts have tried to collect. Just today, in Bangkok, the price of rice is somewhere around $500 plus or so. And in a few weeks, it moved from $400 something to $500 something. There is no major changes on the supply demand. Our production this year forecast to be a little bit more than last year. Let's say in the 450 tons new basis more than a few years ago. And how do prices moving up $100 in a few weeks? Now that is beyond me because there's no relationship while big supply mean unstable prices. And I look back this year, I saw prices in the United States at one time was lower than the time to have $100 lower. Can anybody confirm this or not? I'm sure it's a $100 difference. US price most of the time is higher than the Thai price by $50 to $100. And the Thai prices are $100 higher than the Vietnamese price. But somehow this year, a few months ago, this relationship changed so much that we were above $100 above the Vietnamese and the US is $100 above Thai. And then in a few weeks, a few months, it changed to the extent that the Thai price and Vietnamese price were at par. And the US price also at par. Now nobody can explain that to me as to why it could be like that. We just experienced this recently, the last few months. All of this experience tell me that the Chinese is much smarter than anybody. Thousands of years ago, they make a proverb. They say, even if you can become a saint, you cannot predict right prices. But I did predict right prices well too. In 2007, I think in Bali, I said, then the virus, $300 something. And I told the TV people who came to interview me. I said, no way to predict prices. But they said, ah, you must know, you will be training all your life, you must know. So tell me what you feel. I said, what I feel, it will go to $1,000. And the guy said, oh, for $300 to $1,000? I said, yes, that's how I feel. And you know, four months later, he keep $1,000. I did not have any, what do they call it? In English, you know, something that clay boy himself. I don't have that, you know? I don't have such a thing. But that's how I feel at that time. And they pressed forward. So I said, $1,000, and they did. Actually, it's the $1,000 something before it came down. And you know where I came that from? I got it from Erie. I used to visit Erie. And I bought the Almanac, the statistical book. And the book showed me in 1973, 1974, all prices was very high. And so was right prices. Right prices is very high that year. And I saw the curve go like this and come down. And I saw it used to be $1,000, not in the curve or something. So I remember that. And so people asked me, how do I feel? Because in 2007, all prices were moving up very high. So I said, you will see $1,000. And they did. But now having said that, did I benefit from it? No. I did not benefit from it. I did benefit all the way up, yes. But I believed in myself. I said, ah, you are smart now. You can benefit prices. Because people were talking, you know, the substitute, you know, like an energy plant. Not enough land, not enough water. So right time to continue to go up. And I believed it. Oh my goodness. When it hit $1,000 and it came down, it came all the way down to $400. You know, and I lost my shirt. Because I believed that I had the ability to predict. Actually, nobody has the ability to predict. Not possible to predict right prices. Just like the Chinese boomers say. So we learn to be humble now. We don't take anybody's words easily, whether I'm going to go up or go down. We learn to be very cautious. To lose a little or to win a little is better. Just yeah, it's better. Not a big, not out of there. Anyway, so that's what I learned to survive. By not believing in any statistics, suggesting any direction, but try to do day by day and to survive. Now that comes to another topic that I'd like to share with you. Thailand has been champion for a long, long time. We have managed to have big services and we've explored the largest amount in the world today for many decades running. And people were asking, could we try in 2035, do you think Thailand would continue to be like this? And I would say, hell no. Definitely not. Why? I can see that the environment that we survive in Thailand is not conducive to growth, particularly the government policy. You know, Thai government have changed. Way back we were ruled by the king and then at about 1930 or so, we changed to some form of democracy. Democratic form of government means that you try to listen to the mass pool, to the majority of the people, particularly the poor. Now, if you listen to the poor, then you will adopt one policy. If you listen to the rich, you adopt another policy. Rise is a commodity, people say, political commodity. That means politicians are interested in it and they use rise as a means to stay in power, to get voted in, to rule the country and to stay. So now I pay a lot more attention to what each government of each country likely to do with their rise policy. Now in Thailand, way back 150 years ago, I would learn that king Rama IV opened the rise market to the British, you know, free trade. And my ancestors, my great-great-grandfather, heard about it in China. He said, ah, let's go to Thailand, let's do some business. And a lot of Chinese folk moved in to Thailand. And some of them also came to Vietnam because the French also was doing some kind of free trade in rise. So some Chinese came to Vietnam, some went to Thailand, and some Indian folks went to Burma. You know, these are the entrepreneurs that like to do the buying and selling. And if you have a policy that can attract this group of people, they will work, they will swim, and they will develop the rise economy for you. Now in Asia, this is what happened because the Chinese immigrated. But in Africa, I keep watching whether when would they do that in Africa. If the Chinese ever move into Africa, West Africa or South Africa, the same thing will happen again in African continent. But if they don't go, forget it. It will not work. You know, you can have scientific contribution, this and that. Without the working ends, it will not work. But watch it, you know. It's going to happen in our lifetime. We're going to see that thing going to shift to Africa. If you see more Thai, the Chinese, or Vietnamese move in to Africa, the whole world will change. The rise world will change. Now Thailand, we will not be able to supply anything. Big number. 20 years from now, 30 years from now. Because the government is not thinking in that direction. I think that somebody this morning said, who was it? Who was it? King Kali, Dr. King Kali said that in his book, Rice Bowl, he said he studied there. And Asian government were complacent. And I'm saying exactly the same, that applicable to Thai government, complacent. So what we are, the largest rice exporter, ooh, what do we have to do more? Already in the champion. So they're not interested to do anything more for growth. Actually, they want to limit it. They don't want the rice to grow more and more. They want to limit it less and less. When they go to the politician, go to visit in the countryside, they ask Khun Lung, which I'm going to, in Thailand, we respect all the people, say Khun Lung, what do you want? Khun Lung's father will tell the politician, give me high price. High price of petty. Oh, politicians say, okay, I go back. I can think of a way how to make sure that you get high prices of petty. And you know most of the politicians in Thailand for decades now don't feel a thing when they're metal with their market prices. They don't think that market prices is something you cannot touch. You know, the lady that asked, if you ask whether high price is good or bad, or low price is good, this is exactly the same story. Politicians say, ah, you people want high price, I can do it for you. So, high support came to Thailand. You know, market stylized this and that, set the price way above the market.