The outstanding balance of cash advances drawn by farmers' credit cards was close to 8 billion baht at the end of November.
Outstanding card loans at the end of last month totalled 10 billion baht, said Chaiwat Pokpong, executive vice-president of the Bank for Agriculture and Agricultural Cooperatives (BAAC).
The state-owned bank had outstanding loans of 92 billion baht in the first eight months of its fiscal year starting April 1.
The BAAC launched the card last year.
The programme, a main populist policy of the ruling Pheu Thai Party's campaign pledge, offers a credit line for up to 70% of a farmer's production value and available sales.
The farmer can then use the card to pay for fertiliser, seeds, agricultural machinery and pesticides at participating suppliers.
The bank has in recent months extended the card' service by allowing each cardholder to also withdraw cash through its ATMs with the credit line linked to his income, but not more than 50,000 baht.
About 4 million loan cards are in circulation, covering 85% of farming households.
The cards allow farmers to access capital at a cheaper rate than loan sharks.
The BAAC charges an interest rate of 7% per year for overdue amounts and offers a five-month interest-free period.
It requires farmers pay their outstanding debts in full within the time frame of their farming operation, typically one year.
A farmer who fails to meet the payment deadline three times is deemed a non-performing debtor.
Mr Chaiwat said the BAAC recently raised the credit line from 60% of the value of farm products available for sales following higher operating costs. The move is aimed at boosting the cards' outstanding loans.
The bank estimates its total loans outstanding this fiscal year will reach 100 billion baht, exceeding the target of 85 billion.
Mr Chaiwat forecasts the bank's net profit will not be higher than 6 billion baht this fiscal year, given its low net interest margin at 0.5% to 0.6%.