The Rice Policy and Management Committee set the pledging price of the 2016/17 main season rice crop at THB 13 000 (USD 371) per tonne. The Bank of Agriculture and Agricultural Cooperatives will accept pledges of paddy at a fixed price of THB 9 500 (USD 271). On top of that, farmers will receive THB 2 000 (USD 57) towards quality maintenance plus THB 1 500 (USD 43) for storage to farmers who have silo facilities with the first THB 1 000 (USD 29) to be paid immediately in cash and the rest to be paid when the rice is sold. The measure took effect on 1 November and applies to high quality Hom Mali (Jasmine) paddy rice but will be gradually extended to other types of rice. The target of this programme is 2 million tonnes of rice pledges, as announced in mid-October (FPMA Food Policies).