Thailand: The Minister of Agriculture has approved 2 measures to stabilize the price of rice for the production year 2023/24

Rice

Thailand

Market & Price Trends

Innovation & Technology

Published Dec 21, 2023

Tridge summary

The Cabinet approved measures to stabilize the price of paddy for the 2023/24 production year, including loans to delay the sale of second-season paddy and loans for rice collection and value creation by the Farmers Institute. The loans aim to support a total credit limit of 44,557.71 million baht and help with deposit fees for storing rice in the barn. The government is also proposing debt suspension measures to compensate interest on loans to cooperatives and farmer groups for a period of 3 years.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Capt. Thammanat Phromphao, Minister of Agriculture and Cooperatives, said that the Cabinet (Cabinet) has approved 2 measures to stabilize the price of paddy for the production year 2023/24, consisting of 1. Loans to delay the sale of second-season paddy, with a target of 3 million. tons, the total credit limit is 44,557.71 million baht, the credit limit is 34,437 million baht, the shortfall payment limit is 10,120.71 million baht, helping with the deposit fee of 1,500 baht per ton (cooperatives receive 1,000 baht per ton, farmers receive 500 baht per ton) to store rice in the barn for 1-5 months, starting 1 October 2023 to 29 February 2024 at the price of jasmine rice 12,000 baht per tonne, jasmine rice outside the area 10,500 baht per tonne, Tumthani jasmine rice 10,000 baht per tonne, rice 9,000 baht per tonne, glutinous rice 10,000 baht per tonne and 2. Loans for rice collection. and create additional value by the Farmers Institute. Production year 2023/24 has a target of 1 ...

Source: Naewna