BANGKOK, 16 May 2014 – A survey conducted by the Bank for Agriculture and Agricultural Cooperatives (BAAC) has revealed that 30.7% of rice growers have turned to side jobs for income as they wait for payment owed them under the rice pledging scheme.
According to Lak Watchananwat, the Managing Director of the BAAC, the survey has indicated that 28.5% of rice growers have taken out loans to pay for their daily expenses, 21.9% have to on their savings, 8.8% have been using their farmers’ credit cards and 5.8% have been getting money from other sources.
For the money required in maintaining their paddies, 65.7% of the respondents indicated they were sourcing the money from their farmers’ credit cards. 59.1% said they were borrowing from various sources. 28.% said they were using their savings, and 16.1% said they were working side jobs to pay for their paddies. 12.4% indicated getting money from other sources.
Mr. Lak disclosed that the government still owed approximately 82 billion baht to around 720,000 rice growers participating in the rice pledging scheme. He expects all the farmers to be paid by December or January, at the latest.