Thailand approves 55 billion baht in measures to stabilise paddy rice prices

THAILAND’S Cabinet on Tuesday (Nov 7) approved 55 billion baht (S$2.1 billion) of measures to stabilise paddy rice prices, as the government seeks to support farmers hurt by low prices.

The measures are mainly loans to farmers to delay sales of paddy rice for five months to the end of February 2024, until prices are more favourable, government spokesperson Chai Wacharonke told a press briefing.

The government targets paddy rice of 3 million metric tons during the five months period, he added.

There are also loans for farmers’ groups to intervene in the paddy rice market, Chai said. REUTERS