Farmers who consent to keep grain until February may apply for loans to cover their expenses.
PUBLISHED: November 7, 2023, at 16:05
In an effort to help farmers who are suffering from low prices, the government on Tuesday approved 55 billion ringgit value of measures to stabilize rice grain prices.
According to government official Chai Wacharonke, the measures primarily consist of loans to producers to postpone rice grain sales for five months until the end of February until prices are more favorable.
During the five-month time, the government anticipates harvesting 3 million kilos of rice grain, he said.
Additionally, he added, loans are available for farmers’ organizations to get involved in the grain rice market.
An earlier Ministry of Commerce proposal for support measures worth 69 billion baht to stabilize prices for the 2023 – 2024 harvest season was rejected by the national rice policy committee last week.
The government was instructed to review the resources and nbsp by the council presided over by Prime Minister Srettha Thavisin and to postpone a plan to give farmers 1, 000 baht per ray, which would require spending of up to 56.3 billion Baht.
Up to 600 agricultural cooperative may be able to help grain farmers store their produce at the start of the crop year, according to the Agriculture and Cooperatives Ministry.