The Thai Commerce Ministry has approved a farmers' aid fund worth 4.38 billion THB (145 million USD) for the 2020 fiscal year, focusing on rice, tapioca, palm oil, fruit, shrimp, pork, eggs, salt, onions and garlic.(Photo: bangkokpost.com)
Bangkok (VNA) – The Thai Commerce Ministry has approved a farmers' aid fund worth 4.38 billion THB (145 million USD) for the 2020 fiscal year, focusing on rice, tapioca, palm oil, fruit, shrimp, pork, eggs, salt, onions and garlic.
In the 2019 fiscal year, Thailand earmarked about 1 billion THB from the central budget to support the prices of farm produce.
According to Director-General of the Internal Trade Department Whichai Jurin Laksanawisit, the fund will create a market link for crops during the harvest season, delaying their release onto the market to curb price dips and accelerate exports.
Products with fluctuating prices such as white rice paddy will need additional measures such as stockpiling and cheaper credit lines for traders who help delay rice sales.
The department also plans to hold sales promotion activities to stimulate shrimp consumption and help raise domestic shrimp prices.
Whichai said the fund has nothing to do with the government’s price guarantees and subsidy schemes for certain farm products.
In August, the cabinet approved a package worth 59 billion THB in price guarantees and subsidy schemes for rice and palm oil. Of the amount, 13.3 billion THB was sent to the price guarantee programme for rice, 21.4 billion THB went to palm oil, and 25 billion THB was to subsidise production costs.
The cabinet agreed to set a guaranteed price for fresh palm nuts at four THB a kilogramme, limited to 25 rai per family.
In late last month, the cabinet approved a further 24.27 billion THB for the first phase of income guarantee subsidies for rubber growers. The scheme aims to ensure that 1.4 million rubber farmers have a stable income for six months, until March next year.
The government's subsidy scheme guarantees the price of premium-grade rubber sheet at 60 THB per kg, latex at 57 THB per kg and cup lumps at 23 THB per kg./.
VNA
