BAAC to help rubber, oil palm farmers

Published: 15/02/2009 at 03:01 PM
Online news: Breakingnews

The Bank for Agriculture and Agricultural Cooperatives (BAAC) planned to allocate a budget of 12 billion baht to help lift the sinking prices of para rubber and oil palm prices, BAAC senior executive vice president Ennoo Suesuwan said on Sunday.

Mr Ennoo said eight billion baht will be used to intervene in the para rubber prices while the remaining 4.5 billion baht will be for oil palm prices.

The plan should be proposed to the BAAC board next week, he added.

According to the plan, the government will distribute the budget to cooperatives and other organisations overseeing para rubber and oil palms, and they will use the money to buy 200,000 tonnes of para rubber before they will be processed and stored until its prices move back up.

At the same time, oil palms will be purchased from farmers by the cooperatives soon and they will be processed into crude oil later.

About the author

Writer: BangkokPost.com

Keep this article in your social bookmark:

Latest stories in this category:

Share your thoughts

For more candid, lengthy, conversational and open discussion between one another, use our Forum

Report objectionable comments click here. Include: discussion #, commenter name, comment date / time as it looks on the page. Example: discussion 15: 09/01/2009 at 10:00 AM.

grumpyexpat.com

Discussion 2 : 16/02/2009 at 12:35 PM2
just populist policies used by previous government used again, how long they going to hold onto oils.amazing when in the pooh, just do anything you can to make yourself look good, difference is previous adminstration had a good economony, not same situation now.
Dennis

Discussion 1 : 16/02/2009 at 11:34 AM1
If they want to help get the price of fertilizer down, it went up more that double because of the oil price but still not come down with the oil price, someone making lots of money

grumpyexpat.com

Discussion 2 : 16/02/2009 at 12:35 PM2

just populist policies used by previous government used again, how long they going to hold onto oils.amazing when in the pooh, just do anything you can to make yourself look good, difference is previous adminstration had a good economony, not same situation now.

Dennis

Discussion 1 : 16/02/2009 at 11:34 AM1

If they want to help get the price of fertilizer down, it went up more that double because of the oil price but still not come down with the oil price, someone making lots of money

BAAC to help rubber, oil palm farmers