Thai farmers flooded with debt; an increase of 16.5% to an average of 250 thousand baht per household

NESDB assessed year 64 Farmers' debt soared 16.5 percent, most of them needed to borrow money to buy inputs. Non-agricultural spending while income increased 4.5%, keeping an eye on agricultural production, a 3% drop in rice; milk, shrimp, must be excited On August 16, 2021, Mr. Chantanon Wannakhajorn, secretary-general of the Office of Agricultural Economics (NESDB), revealed that NESDB assesses the situation of farmers' assets. After the situation of the Covid-19 outbreak As a result, farmers' debt increased in line with the country's household debt. and other variables especially from government policies such as debt suspension and low-interest loans, etc. Meanwhile, farmers' debt in 2021 had an average debt of 262,317 baht/household, an increase of 16.54% from 2020 with a debt of 225,090 baht/household. Most of the loan liabilities have the purpose of borrowing as follows: 37.55% of agricultural inputs/materials, labor costs, repairs/purchases of agricultural machinery. 17.05% ...