The Commerce Ministry is preparing measures to stabilise the prices of key agricultural products, including rice, cassava, maize for animal feed and palm oil, as these products are poised to enter the market.
According to permanent commerce secretary Keerati Rushchano, all support measures will be proposed and considered by the cabinet, for approval within November.
"The ministry is informing farmers who cultivate essential agricultural products such as rice, cassava, animal feed maize and oil palm that they need not worry about the absence of price stabilisation measures as output begins to enter the market," he said.
"Even though there are no longer price intervention programmes such as income guarantee or pledging schemes, preparations have been made to stabilise the prices of such products. These plans will be proposed for consideration by the committee overseeing each type of crop, with the cabinet expected to approve them within November."
Regarding rice products about to enter the market, Mr Keerati said Commerce Minister Phumtham Wechayachai scheduled a visit today to Udon Thani to listen to farmers' concerns and suggestions, as well as meet with farmers' representatives.
He plans to gather the feedback to present to the National Rice Policy and Management Committee for its consideration on Wednesday, said Mr Keerati.
He said measures include special financial assistance to farmers who agree to delay sales by storing rice in their barns as well as interest rate subsidies.
Such measures should be sufficient to support rice prices as production enters the market, aligning with the industry development strategy, said Mr Keerati.
For cassava products, he said the National Cassava Policy and Management Committee has already considered measures, including providing loans for stockpiling and interest rate compensation for stockpiling.
For animal feed maize, the related committee considered similar measures, said Mr Keerati.
He said the National Oil Palm Policy and Management Committee for Marketing considered measures to support oil palm management such as compensation for those who agree to release excess stock by two baht per kilogramme (targeting 200,000 tonnes), assuming the domestic crude palm oil stock exceeds 300,000 tonnes and the domestic price exceeds the global market price.
In addition, there are measures to promote the use of palm oil as an alternative energy source, which will be presented to the committee for consideration before being submitted to the cabinet, said Mr Keerati.