Thailand approves rice revenue guarantee scheme for 2022/2023 season

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Thailand approves rice revenue guarantee scheme for 2022/2023 season

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

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

The trade minister said the program requirements are the same as the previous three years. Farmers can register for aid until October 31, 2022. Those in the South can also do so until February 28, 2023.

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

In addition, the committee extended for another year a plan to resolve the previous rice mortgage program to release remaining commodities in stock, as well as allow authorities to pursue legal action in the remaining cases of the mortgage program. (NNT)


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