Govt rice price payouts to start next month

Govt rice price payouts to start next month

59-billion-baht assistance programme to run throughout current administration

Deputy Prime Minister and Commerce Minister Jurin Laksanawisit
Deputy Prime Minister and Commerce Minister Jurin Laksanawisit

Roi Et: The rice price guarantee scheme will begin next month with farmers set to be paid the difference when the price falls below a predetermined benchmark, Deputy Prime Minister and Commerce Minister Jurin Laksanawisit said.

He was speaking as he led a delegation of officials from the Thai Rice Exporters Association to explain the matter to farmers from five northeastern provinces -- Roi Et, Si Sa Ket, Surin, Yasothon and Maha Sarakham.

On Aug 27, the cabinet approved a package worth 59 billion baht in price guarantees and subsidy schemes for rice and oil palm.

Of the total budget, 13.3 billion baht is for the price guarantee programme for rice, 21.4 billion for oil palm and the remaining 25 billion is to subsidise production costs for rice farmers.

The rice price guarantee scheme will cover five types of rice: white rice paddy with 15% moisture, Thai hom mali rice paddy, fragrant Pathum Thani rice paddy with 15% moisture, glutinous rice paddy with 15% moisture, and provincial fragrant rice.

Under the scheme, which will run from October this year to October 2020, farmers will see the price of white rice paddy with 15% moisture guaranteed at 10,000 baht per tonne, but the guaranteed yield cannot exceed 30 tonnes per family or 40 rai. The guaranteed price is set at 15,000 baht a tonne for Thai hom mali rice paddy, but limited to 14 tonnes per family or 40 rai.

The scheme will be run by the state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC).

To be eligible, rice growers must register with the Agriculture Extension Department and the money will be deposited directly into their BAAC accounts.

Mr Jurin said that currently about 4.1 million farms have registered to take part in the programme.

The first payments will begin on Oct 15, he said, adding that the crop price guarantee scheme will be renewed annually throughout this government's entire four-year term.


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