Thai government extends cassava mortgage scheme period

BANGKOK, March 3 (TNA) - The Thai government has extended the deadline for its cassava mortgage period for local growers until March 29, 2012. Speaking during the weekly address on behalf of Thai Prime Minister Yingluck Shinawatra today, Commerce Minister Boonsong Teriyapirom said that the local cassava growers were earlier asked to register for the scheme from February 1-29, during which nearly 700,000 tonnes of cassava were mortgaged, far short from six million tonnes targeted by the government, out of Thailand's total cassava produce of 8-9 million tonnes this season. Boonsong acknowledged that many cassava growers had sold their produce before the government scheme was launched, and that in a bid to help the local cassava growers who have not yet registered themselves, the government has decided to extend the registration deadline until March 29. According to the commerce minister, the mortgaged cassava price is now set at 2.80 baht per kilogramme, compared to only 2.75 baht per kilogramme previously. On problems that some unscrupulous rice and cassava traders had illegally used mortgage rights of the local growers, the commerce minister noted that his ministry is joining forces with the Ministry of Interior in suppressing the malpractice and provincial governors have been instructed to immediately take legal action against wrongdoers in their respective areas. (TNA)