Government approves 460 million rice protection program

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BANGKOK, 28 April 2015 – The Cabinet has approved a 460 million baht rice protection program for the 2015 production season.

Finance Minister Sommai Phasee announced the program’s approval after today’s cabinet meeting. He said he expected participating farmers would increase to 1.5 million from last year’s 800,000.

Furthermore the Finance Ministry is planning to issue 10 and 20 year bond notes totaling 300 billion Baht. Funds received from the issuance would be used to repay the debt obligations of the State Railway of Thailand, the rice pledging scheme and the social security fund.