Cabinet approves 10 billion baht to intervene in the price of jasmine rice.

House, 3 Ministry of Economic Affairs explains that the Cabinet has approved 10 billion baht to intervene in the price of jasmine rice at 12,300 baht/ton.

Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce, along with Captain Thammanat Phromphao, Minister of Agriculture and Cooperatives, and Mr. Chulaphan Amornvivat, Deputy Minister of Finance, joined in explaining the Cabinet's resolution to issue measures to maintain price stability. Jasmine rice, production season 2023/24, because the price of rice and other types of rice is still satisfactory.

Mr. Chai Watcharong, spokesman for the Prime Minister's Office, revealed that the Cabinet meeting approved credit measures to delay the production of jasmine rice in the 2023-24 season. In the past, it was sold at a price of 14,800 baht per ton, but now the price has decreased. When farmers harvest the rice, they sell it to the mill. Humidity 25 percent The price will be reduced to 11,000 baht per ton. The government therefore allows the BAAC to issue loans to delay sales at a price of 12,300 baht/ton for 5 months and also pays another 1,500 baht for rice storage in the granary, with a target of 3 million tons. Farmers are advised not to rush to sell rice to the market during this period. Because it will cause jasmine rice to oversupply in the market.

Another measure to control rice prices By giving agricultural cooperatives and farmer groups push up the price in the market By purchasing jasmine rice Moisture content of 25 percent at a price of 12,200 baht per ton, with the government giving a profit of 300 baht, giving farmers a benefit, selling at a price of 12,500 baht per ton, with a goal of helping 1 million tons. For both measures, the government uses a budget of 10,600 million baht to take care of it.

Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce, said the government is still looking for additional ways to help. regarding assistance with administrative costs Reduce the cost of growing rice Assist farmers at 1,000 baht/rai, not exceeding 20 rai per person, for a total of not more than 20,000 baht in aid money, spending approximately 56,000 million baht. This matter must be discussed at the NCB meeting soon. If a conclusion is reached, prepare to bring Propose to the Cabinet in the next period.

Mr. Chulaphan Amornvivat, Deputy Minister of Finance, said that allowing cooperative groups to purchase paddy leads the market. It will be a mechanism to push prices up. which has discussed with mills and exporters to make the market mechanism work more and buy rice at a fair price Reflects farmers' costs and hasten to find channels for mills to access credit. Come back to buy rice at full capacity. This year's production of all types of rice is approximately 10 million tons, when the price of rice tends to decrease. Therefore, it is necessary to help with the cost of storing rice in the barn by another 1,000 baht per ton. Next week, it is expected that a solution will be found. To reduce costs for farmers, through the BAAC, reserve money first. which has sufficient liquidity It is expected that it will not exceed the ceiling of 32 percent according to the Financial and Fiscal Discipline Act, Section 28.

Source: Thai News Agency