Thailand starts rice price guarantee programme

21/10/2019,

On 15 October, the Government began implementing the price guarantee scheme. Under the scheme, which will run from October this year to February 2020, if market prices drop below the guaranteed price, the difference will be paid to farmers by the State-owned Bank for Agriculture and Agricultural Cooperatives (BAAC), the body in charge of administering the scheme. Guaranteed prices range from THB 10 000 per tonne to THB 15 000 per tonne depending on the type of paddy produced, including white non-glutinous rice, glutinous rice, jasmine rice and other fragrant rice, with moisture content of 15 percent. In addition, the Government set a limit to the volume that would be covered under the price guarantee, varying from 14 tonnes to 30 tonnes per household, depending on the type of rice. The measure is aimed at supporting production and ensure remunerative prices to farmers.

Country: Thailand