The Pheu Thai Party will leverage the agricultural futures market and government stockpiles to help push rice prices higher in line with the party's campaign promises.
Pheu Thai will push for the small Agricultural Futures Exchange of Thailand to be merged with the much larger Stock Exchange of Thailand to improve liquidity in the futures market.
The party is pushing an ambitious plan to more than double market prices to 15,000 baht per tonne for rice paddy and 20,000 baht per tonne for hom mali rice. It also vowed before the July 3 election to scrap the Democrat Party's price insurance programme in favour of a return to a mortgage scheme where farmers pledge their crops as collateral against loans from state banks.
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