The government is to provide an 11,800 baht (US$332) mortgage for every tonne of this year's extra crop of rice, Commerce Minister Pornthiva Nakhasai said on Friday.
 
The National Rice Policy Committee resolved to have the Commerce Ministry provide the mortgaging measure for the extra crop of rice from next week until the middle of July, with a Bt 36 billion budget to be earmarked under Cabinet approval in due course.

Mrs Pornthiva said the 11,800 baht mortgage rate will remain in the range of pricing provided for last year's extra crop,and will be comparable to that for this year's regular crop.

The commerce minister commented that about 2.5 million tons of this year's extra crop of rice is expected to come under the government's mortgaging programme provided for farmers in all parts of the country, and that the farmers should find the offered price satisfactory. 

Source: TNA