Farmers to Receive ‘1,000 Baht Per Rai’ Support Before New Year.

Bangkok: Farmers across the country are set to receive financial support of '1,000 baht per rai' as a New Year gift, the Minister of Agriculture announced. This initiative is part of a government project aimed at supporting rice farmers' management costs and improving product quality for the 2024/25 production year. According to Thai News Agency, Mrs. Narumon Pinyosinwat, the Minister of Agriculture and Cooperatives, stated that the Cabinet has approved the project, allocating a budget of 38,578.22 million baht. This financial aid will be distributed to more than 4.61 million registered farming households, with each household eligible to receive support for up to 10 rai. The verification process by the Rice Department and the Department of Agricultural Extension is in its final stages, and the Bank for Agriculture and Agricultural Cooperatives (BAAC) is reviewing the data today. Once approved, funds will be disbursed within 10 business days. The total budget is divided into three main components: 37,414.04 million baht for direct payments to farmers, 1,164.18 million baht for BAAC's cost compensation at 3.05 percent, and 23.05 million baht for management expenses. The BAAC will utilize two funding sources: 29,518.02 million baht from the fertilizer cost reduction project budget and an additional 9,060.20 million baht for BAAC's project operations. The agency will also seek an annual budget allocation for these efforts. The Ministry of Agriculture and Cooperatives is committed to providing New Year gifts to farmers through its agencies. Ms. Paethongtarn Shinawatra, the Prime Minister, has instructed all agencies to implement policies and measures to deliver New Year gifts to the public.