Thai government approves sticky rice subsidy plan

Illustrative image (Source: VNA)

Bangkok (VNA) – The Government of Thailand on November 21 approved a plan to increase sticky rice price to 13,000 THB (366 USD) per tonne.

The aim of the plan is to support farmers who grow sticky rice in the 2016-17 crop, which is expected to reach 6 million tonnes.

Of the total amount, 9,500 THB (268 USD) will be used to cover storage costs and 1,300 THB (36 USD) will be allocated for harvest costs.

This plan is hoped to help farmers postpone the selling of 2 million tonnes of sticky rice.

Earlier, Thailand’s National Rice Policy Committee decided to extend the Government’s support plan for white rice and Pathum Thani rice of farmers in the southern region to July 2017 instead of May 2017.

The Government of the Philippines decided to buy 200,000 tonnes of rice from Thailand while China also announced to purchase 20 tonnes of Hom Mali rice for poor people in Khon Kaen region.

The Government of Thailand has also encouraged farmers in 35 cities and provinces to plant corn instead of rice after harvest. Accordingly, the Government approved a budget of 8 billion THB (225 million USD) for farmers in the form of preferential loans.-VNA