The NCB meeting approved a subsidy for farmers, 1,000 baht per rai, 20,000 baht per household. Next week’s cabinet meeting will approve. Ready to pay money into the farmer’s account immediately.

Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce Revealed after the meeting of the National Rice Policy and Administration Committee (NRCT) that the meeting approved a project to support management fees and develop product quality for rice farmers in the production year 2023/24 at the rate of 1,000 baht per rai. Not more than 20 rai/household The budget amount is 56,321.07 million baht, with approximately 4.68 million rice farmers in the 2023/24 production year registered with the Department of Agricultural Extension. Project period 1 Oct. 2023 to 30 Sep. 2024.

As for the grant of 1,000 baht per rai of assistance to farmers, it is expected that it will be submitted for approval from the Cabinet meeting on November 14. It is expected that the subsidy of 1,000 baht per rai of farmers will likely begin being paid. To be achieved by November 2023 after the Cabinet meeting approves the budget used. The government will oversee the use of the budget. Without breaking fiscal discipline by providing assistance to farmers of 1,000 baht per rai, with a payment limit of 56,321 million baht, targeting 4.68 million farmer households. It will provide assistance of 1,000 baht per rai to farmers in households not exceeding 20 rai, or equivalent to 20,000 baht per household.

In the next year, the government Prepare to adjust the structure of rice production. And this year will be the last year that this kind of policy is used. Next year, a project will be implemented to reduce costs for farmers. and increase production efficiency through innovation In order to produce quality rice to increase income. To reduce budget usage The government has a project to help farmers. This year the amount will be 66,000 million baht and the loan amount will be 34,000 million baht to compensate for cooperative interest.

However, earlier the Cabinet meeting (Cabinet) approved 2 measures to stabilize the price of paddy. This is the lending of the Bank for Agriculture and Agricultural Cooperatives (BAAC) to help farmers absorb the amount of rice from the market. Divided into loans to delay the sale of rice paddy, loans to collect rice and create additional value, both measures have a total credit limit of more than 55,038.96 million baht, divided into BAAC credit limit of 44,437 million baht and shortfall payment limit of 10,601.96 million baht.

Mr. Phumtham said that the reason for issuing measures to help farmers is due to the current price of paddy. Except for jasmine rice The market price of rice is quite good. But the price of jasmine rice that is going to gradually come out in November 2023 in both the northeastern and northern regions is approximately 9.5 million tons, with the market price of jasmine rice being about 1 ton per ton. 14,800-15,000 baht, which is dry rice with a humidity of 15%, but the reality is when farmers harvest rice and sell it. It has a humidity level of 25% and costs only a ton. 12,000-12,300 baht, which the current market price is only 11,000 baht per ton, considered lower than the fair price that should be received.

For this reason Ministry of Agriculture and Cooperatives and Ministry of Commerce Therefore, measures have been created to intervene in prices by issuing 2 measures to help absorb the amount of rice. in order to increase the price of rice The details are as follows: 1. Loan to delay the sale of rice paddy. The goal is to absorb 3 million tons of rice into the market by allowing farmers’ institutions and farmers with their own barns to store paddy in the barns for 5 months to wait for sale. The government will provide loans by setting the loan limit for jasmine rice at 12,000 baht per ton, jasmine rice outside the area at 10,500 baht per ton, Tumthani jasmine rice at 10,000 baht per ton, rice at 9,000 baht per ton, sticky rice at 10,000 baht per ton, as well as helping with deposit costs. Another 1,500 baht per ton (cooperatives receive 1,000 baht per ton + farmers receive 500 baht per ton). There is a credit limit of 34,437 million baht and a shortfall payment limit of 10,120.71 million baht, starting from 1 October 2023 to 29 February 2024.

2. Loan to collect rice and create additional value with a target of 1 million tons by allowing farmer institutions to collect Buy paddy from farmers with a loan limit of 10,000 million baht and an interest compensation limit of 481.25 million baht. The cooperative will pay 1% interest and the government will help with 3.85% interest for a period of 15 months. As for the 4.85% interest compensation from the BAAC, the government It will help bear the interest burden of 3.85%, while farmer institutions will bear the burden of 1%, starting from 1 October 2023 to 30 September 2024. This measure will allow farmer institutions to purchase, compete and intervene in the market. By purchasing at the pilot price jasmine rice at 25% humidity, priced at 12,200 baht per tonne when sold. If there is profit, 300 baht per tonne will be shared with the farmers, which will result in the farmers receiving a total of 12,500 baht per tonne, which will be better than before without intervention. Because it will allow farmers to get an additional 1,500 baht from the market price. -Thai News Agency

Source: Thai News Agency