The cabinet on Tuesday approved in principle an 8.8-billion-baht budget for the state-sponsored price guarantee scheme for oil palm in the 2021 season.
The guaranteed price for fresh palm nuts is set at four baht per kg, for a limit of 25 rai per family. The scheme will run until September 2021.
To be eligible, planters must register with the Agriculture Extension Department and the money will be deposited directly into their Bank for Agriculture and Agricultural Cooperatives (BAAC) accounts, said deputy government spokeswoman Rachada Dhanadirek.
Under the programme, farmers will get paid only the difference when the price falls below the benchmark.
The Commerce Ministry reported that BAAC has already paid 7.22 billion baht to 378,892 households between August 2019 and December 2020, accounting for 55.5% of the total 13 billion baht budget allocated.
Nevertheless,…
