The National Rice Policy Committee has agreed to resume the mortgage scheme for second-crop paddy, says Commerce Minister Porntiva Nakasai.

The committee, chaired by Prime Minister Abhisit Vejjajiva, yesterday agreed to resume the rice mortgage scheme for the original period from March 16 to July 31.

Under the scheme, the Commerce Ministry will accept the mortgage of up to 2 million tonnes of paddy, she said.
Opponents said the scheme was recklessly conceived and designed to benefit certain business groups.

Some farmers, however, support the scheme preferring it to the price intervention policy which they said did not offer them as much flexibility for selling their crops.

The committee also agreed to raise the mortgage price of paddy at the provincial level to 14,000 baht per tonne from 13,000, said Mrs Porntiva.

Source: Bangkok Post