Farmers can use the trees they cultivate or have on their farmland as loan collateral under the Secured Transactions Act, which was enacted in 2018.
Farmers are being encouraged to use high-value trees as loan collateral to help mitigate the financial hardships caused by the pandemic.
Thosapone Dansuputra, director-general of the Business Development Department, said that over the past few years the department had collaborated with the Bank for Agriculture and Agricultural Cooperatives (BAAC) to organise campaigns to encourage farmers to grow more perennial trees on their land to optimise yield and…
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