Oil palm subsidy approved

The cabinet on Tuesday approved a 7.66-billion-baht budget to finance the state-sponsored price guarantee scheme for oil palm in the 2021/2022 season.

Deputy government spokeswoman Rachada Dhnadirek said the scheme needs to be continued to ensure farmers’ income.

The guaranteed price for fresh palm nuts is set at four baht per kilogramme, for a limit of 25 rai per family. The scheme runs from September 2021 to August 2022 and is expected to benefit 380,000 planters.

To be eligible, planters must register with the Agriculture Extension Department, with the money deposited directly into their Bank for Agriculture and Agricultural Cooperatives (BAAC) accounts. Under the programme, farmers are paid only the difference when the price falls below the benchmark.

“The scheme has yet to start as the price of fresh palm nuts soared to an average of 6.90 baht per kg, much…