Thailand Announces Another Round Of Subsidy Scheme For Rice Farmers

By Mohd Haikal Mohd Isa BANGKOK, Nov 7 (Bernama) -- Thailand, the world's second largest rice exporter, has announced another round of a subsidy scheme for rice farmers affected by the commodity's falling prices in the market. Commerce Minister Apiradi Tantraporn said the latest subsidy round is expected to cost Baht 18 Billion (US$1=Baht34) and target varieties of white rice, including Prathum Thani fragrant rice. "Approximately Baht 9 billion will be for the farmers to store rice in their barns or silos for a certain period of time and another Baht 9 billion for storage expenses, harvest and management," she told the media after attending the National Rice Policy Committee meeting Monday. The meeting was chaired by Prime Minister Gen Prayut Chan-o-cha. The latest subsidy scheme is expected to bring relief to 700,000 rice farmers in the central region who mostly produce Prathum Thani fragrant rice and other varieties of white rice. According to Apiradi, Monday's relief measures will commence after receiving the cabinet go-ahead Tuesday and will be effective for a duration of five months. This move follows a similar announcement by the government last week that it has set aside a budget of Baht 20 billion for a subsidy scheme for farmers who grow Thai Hom Mali Rice (Thai Jasmine Rice). Meanwhile, Commerce Ministry permanent secretary Wiboonlasana Ruamraksa said the government has no plans to introduce a rice subsidy scheme for glutinous rice due to its current high market price. -- BERNAMA