Over 2.4 million farmers to get cash assistance under rice price guarantee scheme from Dec 9

By THE NATION

 

 

The Bank for Agriculture and Agricultural Cooperatives (BAAC) will disburse Bt20.4 billion to some 2.4 million farmers on Wednesday after the Cabinet approved an additional budget of Bt28 billion for the government’s rice price guarantee scheme.

 

This amount is in addition to the originally santioned budget of Bt18 billion.

 

The scheme aims to compensate nationwide rice farmers of over 4.56 million households.

 

“The reason why the scheme needs a higher budget is that this year’s rice prices have dropped more than previously estimated,” said Kasab Ngernrungrong, BAAC deputy manager.

 

“The price of Hom Mali [jasmine] rice is currently Bt2,899 per tonne lower than the guarantee price, round rice is Bt877 per tonne lower, Pathum fragrant rice is Bt1,039 per tonne lower, and sticky rice is Bt933 per tonne lower.”

 

The scheme limits the maximum amount of rice guaranteed per household: Hom Mali rice is capped at 14 tonnes, round and Pathum fragrant rice at 25 tonnes and sticky rice at 16 tonnes.

 

The BAAC also has earmarked Bt15.28 billion as subsidy for farmers who keep unmilled rice in their barns instead of selling to the mills in a bid to prevent oversupply which will cause the rice price to plummet further.

 

“Farmers who keep unmilled rice would get Bt1,500 subsidy per tonne, and they would be allowed to sell their rice when the price situation improves,” he said.

 

“We estimate that towards the year-end more than 200,000 farmers will apply under the campaign.

 

“The bank would try to disburse the money under related schemes to rice farmers before the year-end so that they could invest in next year’s cultivation as well as spend during the new year festival. We estimate that when combined with all available measures, a rice farmer could receive up to Bt70,000 from the BAAC,” he added.

 

Besides rice, the BAAC is also responsible for price guarantee schemes of other crops, including rubber with a budget of Bt9.7 billion, tapioca (Bt9.5 billion), corn for animal feed (Bt1.8 billion), oil palm (Bt8.8 billion), and longan (Bt3.4 billion).

 

Source: https://www.nationthailand.com/news/30399201

 

 

-- © Copyright The Nation Thailand 2020-12-07

 

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3 minutes ago, webfact said:

Over 2.4 million farmers to get cash assistance under rice price guarantee scheme from Dec 9

corruption is applauding

11 minutes ago, webfact said:

“Farmers who keep unmilled rice would get Bt1,500 subsidy per tonne, and they would be allowed to sell their rice when the price situation improves,” he said.

 

Sounds vaguely familiar.

 

 

11 minutes ago, webfact said:

Besides rice, the BAAC is also responsible for price guarantee schemes of other crops, including rubber with a budget of Bt9.7 billion, tapioca (Bt9.5 billion), corn for animal feed (Bt1.8 billion), oil palm (Bt8.8 billion), and longan (Bt3.4 billion).

 

Schemes R Us.

 

 

Works for some governments, not so well for others.

 

 

18 minutes ago, webfact said:

bid to prevent oversupply which will cause the rice price to plummet further.

 

But not in the markets or shops.....

regards Worgeordie

21 minutes ago, webfact said:

The bank would try to disburse the money under related schemes

 

throughout my life i have always associated the word scheme with scam for some reason. 

Sounds like the last duly elected PM rice plan which was declared illegal is being continued under this non elected PM .

6 minutes ago, mr mr said:

 

throughout my life i have always associated the word scheme with scam for some reason. 

 

I assume that there is a Thai word, which translates to "scheme" but probably has a less Dr. Evil-sounding meaning? Maybe something the higher classes decide is best for the lower-classes?

5 minutes ago, Average man said:

Sounds like the last duly elected PM rice plan which was declared illegal is being continued under this non elected PM .

Yes, it is a direct consequence of Malfeasance which was not okay for the prior PM but us ok for this one. Go figure. Double edged sword, sharp to cut away the old, to dull on the other side to cut yourself with.

1 hour ago, Average man said:

Sounds like the last duly elected PM rice plan which was declared illegal is being continued under this non elected PM .

Most of the populist policies are being continued and rebranded. 

 

Some of us were duped by the lies and tactics of the current mob to remove an elected administration, and some of us knew they couldn't be trusted from the outset. 

 

Remember, in Thailand they will cut you down quick if you start to appear a better choice for the poor majority than those they are forced to worship and obey. 

 

 

 

 

Meanwhile, some more good news for the Thai rice industry

8 hours ago, webfact said:

The Bank for Agriculture and Agricultural Cooperatives (BAAC) will disburse Bt20.4 billion to some 2.4 million farmers on Wednesday after the Cabinet approved an additional budget of Bt28 billion for the government’s rice price guarantee scheme.

Is this the same as price fixing?

9 hours ago, webfact said:

farmers to get cash assistance under rice price guarantee scheme

 

Ah ha! The re-introduction of the Yingluk Scheme:-

 

9 hours ago, mtls2005 said:

Schemes R Us.

 

LOS  ....  Land of Schemes. 

LOS, Land of Shameful double standards....

6 hours ago, Burma Bill said:

 

Ah ha! The re-introduction of the Yingluk Scheme:-

 

 

i would.

21 hours ago, Average man said:

Sounds like the last duly elected PM rice plan which was declared illegal is being continued under this non elected PM .

In other words, do as I say but not as I do.

23 hours ago, worgeordie said:

But not in the markets or shops.....

regards Worgeordie

Price gouging continues unabated in supermarkets even when there is a glut of a product.  The rich get richer.