B10bn for cassava income guarantee | Bangkok Post: business

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B10bn for cassava income guarantee

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The Commerce Ministry will seek a 10-billion-baht budget to manage its cassava income guarantee plan for the 2013/2014 season. 

Planters are set to receive between 2.60 to three baht per kilogramme of cassava. If market prices are lower, the state will pay to offset the losses, said Deputy Commerce Minister Yanyong Phuangrach.

The income guarantee plan will replace the current pledging scheme in which the government used 27 billion baht, including 4 billion in management costs, to buy about 10 million tonnes of cassava from growers.

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