Reduced pledging prices for secondary paddy crops by 20 percent to Baht 11 040-12 000 (USD 355-386) per tonne, in a bid to contain financial losses derived from the implementation of the paddy pledging program. The new prices are to be applicable from 1 July 2013 to the end of the 2012/13 secondary-crop run of the program on 15 September 2013, with a pledging ceiling of Baht 500 000 (USD 16 100) per household also applicable. Pledging prices will be subject to eventual review, based on global price developments. The 200 000 farmers expected to be negatively affected by the price cut will be provided with credit and other financial assistance through the Bank for Agriculture and Agricultural Cooperatives (BAAC). Rice producers are to be encouraged to consider switching to alternative products, including production of higher quality rice, cassava and/or sugar cultivation.
Exchange rate as of 1 July 2013