Comprehensive Thai media reported on October 27 that the Ministry of Commerce of Thailand proposed the farmers’ income guarantee project for 2021 / 22. The cabinet has approved the farmers’ income guarantee project for rice, cassava and corn planting proposed by the Ministry of Commerce and the protection measures to stabilize the prices of these three crops. The total budget is 27 billion baht, helping more than 5.66 million farmers. The budget of the three crop income guarantee projects alone is 22 billion baht. The details are as follows:
1.The first round budget of the rice farmers’ income guarantee project in 2021 / 22 is 13.6 billion baht, which can help 4.68 million rice farmers. The rice farmers registered with the Ministry of agriculture and cooperatives are planted from April 1 to October 31, 2021, except in the southern region from June 16, 2021 to February 28, 2022. The compensation difference rules are the same as those in 2020 / 21. The compensation for five kinds of rice with humidity no more than 15%, no more than 40 Lai per household, and only one compensation for each piece of land.
The five kinds of rice are: jasmine rice price 15000 baht / ton, no more than 14 tons per household; The price of jasmine rice outside the region is 14000 baht / ton, with no more than 16 tons per household; The price of rice is 10000 baht / ton, no more than 30 tons per household; The price of baton Tani fragrant rice is 11000 baht / ton, and each household does not exceed 25 tons; The price of glutinous rice is 12000 baht / ton, no more than 16 tons per household.
There are three other measures to stabilize rice prices, namely: 1. Loan project for delaying rice sales in 2021 / 22; 2. Farmers’ institutions purchase rice and create value-added loan projects; 3. Rice trader inventory interest compensation project. In addition, the cabinet approved guidelines for improving rice quality and promoting management cost projects.
2.The total budget of the income guarantee project for corn farmers in 2021 / 22 is 1.86 billion baht, which can help 452000 farmers. The price of feed corn kernels with humidity of 14.5% is 8.5 baht / kg, and each household does not exceed 30 Lai. It is required to be farmers registered with the Department of agricultural promotion, and the planting time is from June 1, 2021 to May 31, 2022. By using the funds of the agricultural and cooperative bank, the government will compensate the interest and management fees of the agricultural cooperative bank for the period from November 1, 2021 to April 30, 2023.
There are two other protective measures to stabilize corn prices, including: 1. The project of farmers’ institutions purchasing corn and creating value-added loans; 2. Inventory interest compensation item.
3.The cassava grower income guarantee project in 2021 / 22 has a total budget of 6.81 billion baht, which can help 530000 growers. The price of fresh cassava roots with 25% starch content is 2.5 baht / kg, and each household does not exceed 100 tons. They must be growers registered with the Department of agricultural promotion from October 1, 2020 to March 31, 2022.
There are four other measures to stabilize cassava prices, including: 1. Improving cassava planting efficiency; 2. Farmers’ institutions purchase cassava and create value-added loan projects; 3. Inventory interest compensation items; 4. Project to improve cassava processing efficiency.
Source: Economic and trade window of the Consulate General in Kong Jing
Post time: Nov-02-2021