Cabinet approves price guarantees for rice and rubber

Cabinet approves price guarantees for rice and rubber

The mobile cabinet on Tuesday gave the nod to price guarantee schemes for rice and rubber worth a combined 61.9 billion baht.

Of the total budget, 51.2 billion baht is allotted towards the rice scheme for the 2020-21 season and 10.0 billion for the second phase of the rubber price guarantee scheme for the 2019-20 season.

The two schemes will be handled by the state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC).

According to Prime Minister Prayut Chan-o-cha, the annual 2020-21 rice scheme is scheduled to be implemented between October 2020 and May 2021.

The rice price guarantee offers compensation if market prices fall below the benchmark.

The scheme will offer guaranteed prices at the same rates as during the previous season.

The scheme covers five main types of rice: white rice paddy with 15% moisture, hom mali rice paddy, fragrant Pathum Thani rice paddy with 15% moisture, glutinous rice paddy with 15% moisture and provincial fragrant rice paddy.

Under the scheme, farmers will be offered 10,000 baht a tonne for white rice paddy with 15% moisture, limited to 30 tonnes per family or 40 rai.

The guaranteed prices are set at 15,000 baht a tonne for hom mali rice paddy, limited to 14 tonnes per family or 40 rai; 11,000 baht a tonne of fragrant Pathum Thani rice paddy with 15% moisture for up to 25 tonnes per family or 40 rai; 12,000 baht a tonne for glutinous rice paddy with 15% moisture with a limit of 16 tonnes or 40 rai; and 14,000 baht a tonne for provincial fragrant rice paddy with a limit of 16 tonnes per family or 40 rai.

The cabinet also yesterday approved a interest-free loan scheme for farmers who agree to delay selling their grains. The lending scheme will run from Nov 1, 2020, to Feb 29, 2021.

For rubber, the second phase of the programme is scheduled for October to March, offering a guaranteed maximum price of 60 baht per kg for raw rubber sheet, 57 baht per kg for latex, and 23 baht per kg for cup lump, limited to 25 rai per family. Under the scheme, rubber tappers are eligible to receive 40% of the prices, with owners getting 60%.

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