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Rice policy subcommittee dismisses rice farmers’ price guarantee proposal
16 Sept 22:19Key points summarised by AI
- The rice policy subcommittee rejected farmers' proposal for paddy price guarantees or a rice pledging scheme, citing a cabinet decision from November 2023 against subsidies and compensation.
- Instead, the subcommittee implemented three measures: offering 1,500 baht/tonne credits for farmers to store crops, opening direct markets for traders, and compensating traders for stockpiling interest, using 1.8 billion baht to absorb 3.5 million tonnes of paddy and prevent price drops.
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