Farmers association brands rice price cut too low | Bangkok Post: news

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Rice pledging price cut to B12,000

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The extraordinary meeting of the cabinet on Wednesday agreed to reduce the rice pledging price for the second crop in 2013 from 15,000 to 12,000 baht per tonne, as proposed by the National Rice Policy Committee, PM’s Office Minister Varathep Rattanakorn said. 

The reduction in the pledging price will take effect from July 1, 2013, while each farming household will be eligible to be paid a maximum of 500,000 baht under the scheme, he said.

Mr Varathep said the decision was based on the changing price of rice on the world market, the baht’s appreciation, and the increase in global rice supply.

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