The mobile cabinet on Tuesday gave the nod to price guarantee schemes for rice and rubber worth a combined 61.9 billion baht.
Of the total budget, 51.2 billion baht is allotted towards the rice scheme for the 2020-21 season and 10.0 billion for the second phase of the rubber price guarantee scheme for the 2019-20 season.
The two schemes will be handled by the state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC).
According to Prime Minister Prayut Chan-o-cha, the annual 2020-21 rice scheme is scheduled to be implemented between October 2020 and May 2021.
The rice price guarantee offers compensation if market prices fall below the benchmark.
The scheme will offer guaranteed prices at the same rates as during the previous season.
The scheme covers five main types of rice: white rice paddy with 15% moisture, hom mali rice paddy, fragrant Pathum Thani…
