BAAC ready to fund rice scheme shortfall | Bangkok Post: business

Business > News

BAAC ready to fund rice scheme shortfall

- +

The state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC) will use its excess liquidity to advance payments for the rice pledging scheme if the government falls short of its target in selling rice stockpiles. 

The bank, which is the funding source for the scheme, has excess liquidity worth 227 billion baht, representing 21.86% of its outstanding deposits and three times above the Bank of Thailand's requirement, president Luck Vajananawat said.

The Commerce Ministry recently said it aimed to release 6-7 million tonnes of rice in stockpiles under the pledging scheme this year.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments