Area
Thailand
Commodity Group
Rice
Commodity
All
Date
19/09/2017
Policy Category
Production
Policy Instrument
Production support
Description
Approved a budget of THB 87.2 billion (USD 2.6 billion) to implement three schemes geared at assisting rice producers and easing downward pressure on prices at harvest time. The first scheme, an on-farm mortgaging programme for 2.0 million tonnes of main-crop paddy, will run from 1 November 2017 to 28 February 2018. Under the programme, participating farmers would receive THB 10 800 (USD 322) per tonne for Hom Mali and glutinous paddy, while producers of white paddy and Pathum Thani fragrant paddy would receive THB 7 200 (USD 215) and 8 500 (USD 253) per tonne, respectively. Another THB 1 500 per tonne (USD 45) would be availed to compensate farmers for storage costs, while THB 1 200 per rai (USD 223 per ha) would go to support harvesting and quality improvements, for a maximum of THB 12 000 (USD 358) per household. Two separate schemes, each running from 1 October 2017 to 30 September 2018, would avail credit to cooperatives and farmer groups to encourage them to delay the sale of 2.5 million tonnes of paddy, and target to stockpile another 8.0 million tonnes of paddy by providing interest subsidies to processors and traders agreeing to store supplies for two to six months.
Notes
Exchange rate as of 1 October 2017.
