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Thailand approves rice price guarantee scheme for 2020-2021

The National Rice Policy Committee, chaired by Prime Minister Prayut Chan-o-cha, has approved a rice price guarantee scheme for the 2020-2021 crop, offering guaranteed prices at the same rates as during the previous season.
Thailand approves rice price guarantee scheme for 2020-2021 ảnh 1Illustrative image (Photo: Bangkok Post)


Bangkok (VNA) – TheNational Rice Policy Committee, chaired by Prime Minister Prayut Chan-o-cha, has approved a rice price guarantee scheme for the 2020-2021 crop,offering guaranteed prices at the same rates as during the previous season.

Deputy government spokeswoman RachadaDhanadirek said the annual 2020-2021 scheme, which will be carried out between September 1, 2020and May 31, 2021, is expected to use a budget of 85 billion baht (about 2.6billion USD).

If 30.3 billion baht worth ofloans to be issued by the state-owned Bank for Agriculture and AgriculturalCooperatives is included, the scheme will total 115 billion baht, she said.

CharoenLaothammatas, President of the Thai Rice Exporters Association, said riceexport prospects looked murky in the second half amid sluggish global demandcaused by the COVID-19 crisis.

The association has set afull-year rice export target of 7.5 million tonnes but is scheduled to adjustthe target on July 22.

Thailand shipped 7.58 million tonnes of rice worth 131 billionbaht in 2019, down 32 percent in volume and 25 percent in value from 2018./.

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