Cabinet approves B87bn to help rice farmers

Rice paddies are pictured in Ban Mae Tia in Chom Thong District of Chiang Mai. (Bangkok Post photo)

The cabinet on Tuesday approved three loan and subsidy programmes for rice farmers, to help stabilise prices and reduce oversupply of the grain.

The three programmes are worth a total of 87 billion baht and include 73 billion baht for loans and subsidies for rice farmers already approved by the rice management committee earlier this month.

The 73 billion baht spending programme will cover 3.7 million households and span the seasonal harvest from the start of November this year to the end of February 2018.

The remaining money will be used for loans and subsidies for agricultural institutes and business to stockpile rice.

The three programmes are designed to stockpile 12.5 million tonnes of rice.

The measures were approved during the mobile cabinet meeting in Ayutthaya.

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