Thai government to start rice pledging scheme for 2013-2014

BANGKOK, September 29 (TNA) – Thailand’s Deputy Commerce Minister Yanyong Phuangrach said the government will start buying rice from local farmers for the 2013/2014 season this Tuesday, with over 800 rice mills having already signed-up for the rice-subsidy programme that will now also allow trading rice for the warehouse rental amount. Yanyong said he is confident there will be enough warehouses to store rice for the upcoming season, because the government has capped the subsidy at a maximum of 350,000 baht per farming household. Under present terms, the government will pay 15,000 baht per tonne for white rice and 20,000 baht a tone for ‘Hom Mali’ jasmine rice. Yanyong added the government is to spend 270 billion baht on rice purchases during the upcoming and second crop season, which starts next summer. He said new security systems for monitoring rice purchases will also be installed to help cut down on fraud activities within two months. (TNA)