Area
Thailand
Commodity Group
Rice
Commodity
All
Date
24/02/2016
Policy Category
Production
Policy Instrument
Production support, production adjustment program
Description
Approved a budget of THB 10 billion (USD 284 million) to cover rice interventions during the 2016 season. The majority of the funds will be destined to price stabilisation measures, namely extending loans to farmers storing paddy. Nonetheless, as officials seek to keep paddy output at 27.0 million tonnes during the season, THB 3.3 billion (USD 94 million) of this outlay will go to encouraging cultivation of alternative crops or premium rice varieties, while also promoting the consolidation of holdings, as a means to cut production costs.
Notes
Exchange rate as of 1 April 2016.
