The Thai Commerce Ministry has approved a farmers aid fund worth 4.38 billion THB (145 million USD) for the 2020 fiscal year, focusing on rice, tapioca, palm oil, fruit, shrimp, pork, eggs, salt, onions and garlic.
The Thai Commerce Ministry has approved a farmers' aid fund worth 4.38 billion THB (145 million USD) for the 2020 fiscal year, focusing on rice, tapioca, palm oil, fruit, shrimp, pork, eggs, salt, onions and garlic. (Photo: bangkokpost.com)
Bangkok (VNA) – The Thai Commerce Ministry has approved a farmers' aid fund worth 4.38 billion THB (145 million USD) for the 2020 fiscal year,focusing on rice, tapioca, palm oil, fruit, shrimp, pork, eggs, salt, onionsand garlic.
In the 2019 fiscal year, Thailand earmarked about 1 billion THB from thecentral budget to support the prices of farm produce.
According to Director-General of the Internal Trade Department Whichai Jurin Laksanawisit,the fund will create a market link for crops during the harvest season,delaying their release onto the market to curb price dips and accelerateexports.
Products with fluctuating prices such as white rice paddy will need additionalmeasures such as stockpiling and cheaper credit lines for traders who helpdelay rice sales. The department also plans to hold salespromotion activities to stimulate shrimp consumption and help raise domesticshrimp prices.
Whichai said the fund has nothing to do with the government’s price guaranteesand subsidy schemes for certain farm products.
In August, the cabinet approved a package worth 59billion THB in price guarantees and subsidy schemes for rice and palm oil. Ofthe amount, 13.3 billion THB was sent to the price guarantee programme forrice, 21.4 billion THB went to palm oil, and 25 billion THB was to subsidiseproduction costs.
The cabinet agreed to set a guaranteed price for fresh palm nutsat four THB a kilogramme, limited to 25 rai per family.
In late last month, the cabinet approved a further 24.27 billion THB for thefirst phase of income guarantee subsidies for rubber growers. The scheme aimsto ensure that 1.4 million rubber farmers have a stable income for six months,until March next year.
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The Thai Commerce Ministry has approved a farmers' aid fund worth 4.38 billion THB (145 million USD) for the 2020 fiscal year, focusing on rice, tapioca, palm oil, fruit, shrimp, pork, eggs, salt, onions and garlic.
