The National Rice Policy and Management Committee approved on Thursday providing 150 billion baht to support the farmers' rice income guarantee scheme for the main crop of the 2022/23 season.
Speaking after the committee meeting, Commerce Minister Jurin Laksanawisit said the scheme covers 28.5 million rai of rice farmland nationwide and 4.64 million households.
The scheme's criteria are the same as for the previous three years.
Under the scheme for the main crop, farmers can register from April 1 to Oct 31, 2022, while farmers in the South can register from June 16, 2022 to Feb 28, 2023.
The committee also approved parallel supporting measures to ensure rice price stability, including plans to encourage farmers to slow their rice sales in the market by offering a grant of 1,500 baht per rai per tonne to registered farmers, and a 3% interest subsidy for loans to rice farming institutes that agree to slow rice sales.
In addition, a 3% interest subsidy is offered to millers that agree to keep rice stocks during periods of supply gluts in the market.
The committee agreed to support the cost reduction and rice management scheme for farmers at 1,000 baht per rai, limited to a maximum of 20 rai per household.
Under the income guarantee plan, farmers receive the difference between insured rice prices and benchmark prices that change every two weeks in line with market prices.
The scheme covers five main types of rice: white rice paddy with 15% moisture, hom mali rice paddy, fragrant Pathum Thani rice paddy with 15% moisture, glutinous rice paddy with 15% moisture, and provincial fragrant rice paddy.
Under the scheme, farmers are offered 10,000 baht a tonne for white rice paddy with 15% moisture, limited to 30 tonnes per family or 40 rai.
The guaranteed prices are set at 15,000 baht a tonne for hom mali rice paddy, limited to 14 tonnes per family or 40 rai; 11,000 baht a tonne for fragrant Pathum Thani rice paddy with 15% moisture, for up to 25 tonnes per family or 40 rai; 12,000 baht a tonne for glutinous rice paddy with 15% moisture, with a limit of 16 tonnes or 40 rai; and 14,000 baht a tonne for provincial fragrant rice paddy, with a limit of 16 tonnes per family or 40 rai.
Thailand's rice production for the 2022/23 crop is estimated at 26.9 tonnes of paddy rice, up 2.09% from the previous season.
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