Rice Farmers to Receive Financial Incentives to Shift Crop Production
The Commerce Ministry plans to encourage farmers to diversify their crops in response to declining rice prices.
In a bid to curb falling rice prices, the Thai Commerce Ministry is set to unveil a program offering rice farmers a 1,000-baht incentive per rai, designed to encourage the switch to alternative crops.
This initiative, which requires farmers to enter into contracts with the Agriculture Ministry, is contingent upon their decision to cultivate other economically viable crops instead of off-season rice.
The program aims to ease financial pressures on rice farmers amid a significant downturn in rice exports.
Recent data showed a 34.3% decrease in rice exports in February, prompting officials to explore more lucrative crop options, such as high-demand bananas and shrimp farming.
The proposed measures intend to not exceed 10 rai per household and will allow for flexibility depending on localized agricultural assessments.
This initiative, which requires farmers to enter into contracts with the Agriculture Ministry, is contingent upon their decision to cultivate other economically viable crops instead of off-season rice.
The program aims to ease financial pressures on rice farmers amid a significant downturn in rice exports.
Recent data showed a 34.3% decrease in rice exports in February, prompting officials to explore more lucrative crop options, such as high-demand bananas and shrimp farming.
The proposed measures intend to not exceed 10 rai per household and will allow for flexibility depending on localized agricultural assessments.
