Thailand to spend over 1 bln USD on rice, oil palm price guarantees

29, Aug. 2019

BANGKOK, VNA - The Thai Government has approved a package worth 34.8 billion baht (over 1 billion USD) to ensure rice and oil palm prices at suitable levels for farmers.

A deputy government spokesperson said the rice price guarantee scheme worth 21.5 billion baht will be disbursed for 892,000 farming households, while the remaining 13.3 billion baht will be provided for 300,000 others farming oil palm.

The budget for palm farmers will be carried out from now to September 2020.

Meanwhile, the rice price guarantee scheme will be applied in one year starting this October. It will cover five types of rice: white rice paddy with 15-percent moisture, glutinous rice paddy, Thai hom mali rice paddy, provincial fragrant rice paddy, and fragrant Pathum Thani rice paddy.

Additionally, the Thai Government also approved 25.8 billion baht to subsidise production costs for 4.3 million rice farming households. - VNA