Thai govt. to help rice farmers get higher prices this year

23 Sept 05:28 Key points summarised by AI

The Thai cabinet approved a 55 billion baht intervention package to help rice farmers achieve higher prices by discouraging immediate sales and promoting storage.
The Bank of Agriculture and Agricultural Cooperatives (BAAC) will extend 44 billion baht in credit to farmers' associations, cooperatives, and individual farmers to store paddy for 4-5 months.
The initiative aims to store approximately four million out of 10 million tonnes of the 2023-24 rice crop, allowing farmers to sell when prices are more profitable.
Specific credit amounts are set per tonne for various rice varieties (e.g., 12,000 baht for Hom Mali paddy), alongside storage fees for cooperatives and individual farmers.
The government will subsidize 3.85% of the 4.85% interest charged by BAAC to cooperatives, which will also pay farmers an additional 500 baht/tonne profit share upon sale.

Flooding persists in Bangkok and 22 provinces

Yesterday 16:00 Key points summarised by AI

Persistent flooding continues across Bangkok and 22 Thai provinces, though water levels are gradually receding in many affected areas.
Over 604,000 families, impacting approximately 1.83 million people, are still grappling with the widespread flood conditions.
The national flood death toll has reached 80 since mid-September, with fatalities reported across various provinces.
Major regions like Pathum Thani, Ayutthaya, and Bangkok report significant numbers of affected households, with hundreds of thousands still in trouble.