Thailand approves rice income guarantee scheme for 2022/2023 season

Thailand approves rice income guarantee scheme for 2022/2023 season

The government has approved a program to support the rice income guarantee for the main crop for the 2022/2023 season.

According to Commerce Minister Jurin Laksanawisit, the National Rice Policy and Management Committee has approved the program to provide 150 billion baht to guarantee income for rice farmers for their main crop for the 2022/2023 season. The program covers 28.5 million rai of rice farms and 4.64 million households across the country.

The Commerce Minister said the requirements for the scheme are the same as the previous three years. Farmers can register for the assistance until Oct 31, 2022. Those in the South can also do so until Feb 28, 2023.

The committee also approved additional supporting measures to ensure rice price stability. This includes plans to offer framers a grant of 1,500 baht per rai per ton, as well as a 3% interest subsidy for loans to rice farming institutes that agree to slow rice sales. Another measure approved was a scheme to support farmers with cost reduction and rice management at 1,000 baht per rai, with a maximum of 20 rai per household.

Additionally, the committee has extended by one year a plan to resolve the previous rice mortgage scheme to release the remaining commodities in stock, as well as to allow authorities to proceed with their legal prosecution of the remaining mortgage scheme cases. (NNT)


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