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

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.

Wednesday, August 28, 2019 17:49

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

Illustrative image (Source: Bangkok Post)

Bangkok (VNA) – The Thai Government has approved apackage worth 34.8 billion baht (over 1 billion USD) to ensure rice and oilpalm prices at suitable levels for farmers.

A deputy government spokesperson said the riceprice guarantee scheme worth 21.5 billion baht will be disbursed for 892,000farming households, while the remaining 13.3 billion baht will be provided for300,000 others farming oil palm.

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

Meanwhile, the rice price guarantee scheme willbe 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 malirice paddy, provincial fragrant rice paddy, and fragrant Pathum Thani ricepaddy.

Additionally, the Thai Government also approved25.8 billion baht to subsidise production costs for 4.3 million rice farminghouseholds.-VNA

VNA

#Thai Government #rice price guarantee scheme #farming households #fragrant rice paddy #fragrant Pathum Thani rice paddy #Thailand #Vietnam #VietnamPlus #Viet Nam News

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