BANGKOK, 18 February 2015 – The Cabinet is set to approve a debt relief program for farmers in the meeting today.
Prime Minister General Prayut Chan-o-cha will chair the meeting, which was postponed from yesterday. The Cabinet is expected to give a green light to the debt relief program, which is aimed at eliminating debt owed by farmers.
Under the program, the Ministry of Agriculture and Cooperatives will pay off their debts from its own reserve funds. Then farmers will instead owe the money to the ministry.
Meanwhile, the Rice Department is expected to reveal the results of this year’s first stockpiled rice auction held on January 29th. Nearly a million tons of rice were sold to 38 bidders out of 100 participants.