All overdue rice payments to be met by June 22 | Bangkok Post: business

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BAAC has paid out B35bn to farmers

All outstanding rice payments by June 22

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The Bank for Agriculture and Agricultural Cooperatives has paid around 35 billion baht to almost 350,000 farmers over the past week and it expects to pay off all overdue payments for pledged grain by June 22, BAAC president Luck Wajananawat said. 

 A statement issued by the bank on Monday said since receiving the first tranche of money from the government after the May 22 coup, the bank has paid out a total of 35.03 billion baht to 348,384 farmers. Order of payments is based on the running numbers of receipts farmers hold after pledging their grain from the main crop 2013/14 under the previous government led by Yingluck Shinawatra.

The bank had initially received 40 billion baht and expected another 50 billion baht to be allocated soon by the military junta for overdue rice payments. 

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