Another 134 mil baht given to BAAC in Phichit

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PHICHIT, 4 March 2014  Phichit rice growers participating in the rice mortgage program have just received another 134 million baht from the Bank for Agriculture and Agricultural Cooperatives (BAAC).

Rice farmers in Phichit Province lined up at branches of the BAAC yesterday to get the checks for their 2013/2014 pledged rice after the government had allocated 134 million baht to 14 BAAC branches in the province’s 12 districts.

According to the bank, it has already paid out a total of 3 billion baht to 16,000 rice growers, with roughly 40,000 more farmers waiting for their payments worth around 7 billion baht altogether.

The government’s rice pledging scheme was initiated by Prime Minister Yingluck Shinawatra-led government. Its aim is to uplift the quality of life of Thai farmers as well as to help them generate income and create stability.