The National Council for Peace and Order (NCPO) yesterday approved a rice and shrimp farmers subsidy scheme worth 4.79 billion baht.
Of the total, 4.7 billion baht is to help reduce rice farmers' costs for the 2014/2015 crop and another 90 million is to help shrimp farmers, said Chavalit Chookajorn, permanent secretary for agriculture.
Measures include rice seed, fertilisers, rice field rental fees, and low-interest loans. The scheme backers say it will help cut rice farmers' production costs by 432 baht a rai from an average of 4,787 baht a rai.
As part of the scheme, farmers will be offered 3% interest loans for six months and can take out up to 50,000 baht each.
Rice is likely to be farmed on 60 million rai this year with paddy production of 30 million tonnes.
Shrimp broodstock will be imported to help farmers facing losses from disease.