Rice pledging policy ready to begin in October

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BANGKOK, 31 August 2011 -The Commerce Ministry is set to propose a draft policy on rice pledging to the National Rice Committee (NRC) which is expected to be installed in mid October this year. 

According to Permanent Secretary for Commerce Mr. Yanyong Puangrach, the draft policy has been written as a result of the meeting between the Ministry of Commerce and related agencies. Detailed steps taken to implement the pledging procedures will be presented to Commerce Minister Mr. Kittirat Na Ranong for consideration.

The draft will later be submitted to the NRC before the execution. However, a meeting has been scheduled tomorrow to seek approval once again from every one involved in the scheme. The proposal for the government to give 20,000 THB for a ton of jasmine rice will be tabled for consideration as well as at what amount of rice the government can give per ton under the policy.

The pledging scheme is expected to be effective in October when rice production reaches its peak. But according to Mr. Yanyong, the date has been initially set on 1 November 2011. He showed his confidence that this policy was different than the one in 2008 with more emphasis on raising the price for farmers.