The Ministry of Commerce will propose to the cabinet meeting today that a national rice policy committee be set up to oversee the promised rice mortgage scheme, Deputy Commerce Minister Phum Saraphol said on Tuesday.

The panel will be responsible for setting rice mortgage prices under the crop pledging programme scheduled to start on Oct 7, he said.

Mr Phum said the ministry will call a meeting with representatives from the rice mills association, the public warehouse organisation and state offices in preparation for the launch of the rice mortgage scheme.

Apart from setting the mortgage price at 15,000 baht a tonne for white rice and 20,000 baht per tonne for jasmine rice as promised, the committee will also consider setting prices for other kinds of rice, the minister said.

Source: Bangkok Post