Thailand: Government rice price payouts to start next month
The rice price guarantee scheme will begin next month with farmers set to be paid the difference when the price falls below a predetermined benchmark, Deputy Prime Minister and Commerce Minister Jurin Laksanawisit said.
Bangkok (VNA) - The rice price guarantee scheme will begin next month withfarmers set to be paid the difference when the price falls below apredetermined benchmark, Deputy Prime Minister and Commerce Minister JurinLaksanawisit said.
Theofficial was speaking as he led a delegation of officials from the Thai RiceExporters Association to explain the matter to farmers from the fivenortheastern provinces of Roi Et, Si Sa Ket, Surin, Yasothon and Maha Sarakham.
Thefirst payments will begin on October 15, he said, adding that the crop priceguarantee scheme, to last until October 2020, will be renewed annuallythroughout this government's entire four-year term.
Earlier,the Thai Government approved a package worth 59 billion baht (2 billion USD) inprice guarantees and subsidy schemes for rice and oil palm.
Ofthe total budget, 13.3 billion baht is for the price guarantee programme forrice, 21.4 billion for oil palm and the remaining 25 billion is to subsidiseproduction costs for rice farmers.
Coveringfive types of rice, the rice price guarantee scheme will be run by thestate-owned Bank for Agriculture and Agricultural Cooperatives (BAAC).
Tobe eligible, rice growers must register with the Agriculture ExtensionDepartment and the money will be deposited directly into their BAAC accounts.
Jurinsaid that currently about 4.1 million farms have registered to take part in theprogramme./.
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Illustrative image (Source: dhakatribune.com) 
