Some Surin farmers getting compensated from rice scheme

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SURIN, 7 February 2014 21 branches of Thailand’s Bank for Agriculture and Agricultural Cooperatives (BAAC) located within 17 districts in Surin Province, have now transferred much of the money from the rice pledging scheme implemented during the 2013/2014 harvest season, according to the bank. 

Mr. Pairoj Rungpanarat, Assistant Director of the BAAC Surin branch, said the bank has already made 21,000 payments totaling 1.8 billion baht.

Furthermore, the Surin BAAC Office has just received an additional 155 million baht to be transferred to the 21 branches in Surin, and the money will later be transferred to clients involved in the rice pledging scheme.

Presently, there are 94,000 payments that have been made available to clients of the Surin branches of BAAC, but some of the clients have still not contacted their branches, which the Surin Internal Trade Office has confirmed. Meanwhile, other farmers have continuously brought their warehouse receipts to the BAAC to receive their money from the bank, although their turn to get paid has not yet arrived. The Surin branch of BAAC still owes 6.8 billion baht to more than 70,000 farmers that had joined the scheme.