(MENAFN) The National Rice Policy Committee's proposal was submitted by Thailand's cabinet on Tuesday, aiming to enhance the budget for the rice farmers' income guarantee scheme from 28.711 billion baht (948 million U.S. dollars) to 46.807 billion baht (1.54 billion U.S. dollars).
The increased budget was designed to help Thai rice farmers at a time when the price of rice had plummeted sharply, said government deputy spokeswoman Ratchada Thanadirek.
The price of jasmine rice had dropped due to export slowdown and limited tourism from the COVID-19 fallout, she said.
"Hence, the cabinet has green-lighted the go-ahead for the budget increase to facilitate the rice-guarantee scheme for farmers in their rice harvest," Ratchada said.
MENAFN01122020000045011136ID1101215826
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.