Thailand: Cabinet approves rice support package hinh anh 1A rice farmer in Thailand (Photo: EPA)

Bangkok (VNA) – The cabinet of Thailand has approved a package worth 87.2 billion THB (2.6 billion USD) to support rice farmers and stabilise prices ahead of the 2017-2018 harvest, which starts in November.

The programme of the Thai Government, which will officially take effect on November 1, is hoped to assist 3.7 million farmers.

The package includes a loan of 33.5 billion THB from the Bank for Agriculture and Agricultural Cooperatives for farmers to delay rice selling time.

Another loan worth 53.7 billion THB was allocated for farmers to store rice. Accordingly, the programmes are designed to stockpile 12.5 million tonnes of rice.

The Thai Government will also provide loans for farmers to bolster agricultural cooperation and raise rice value. The programme, worth of 12.5 billion THB, will be launched from October this year until end of September, 2018.-VNA