The government will expand the rice pledging scheme for the second crop, after the scheme for the main crop ends this month.

Though the pledging volume is unlimited, the maximum pledging value would be set to prevent circumvention by the unscrupulous. According to Commerce Minister Boonsong Teriyapirom, each farmer would be entitled to pledge rice at the maximum value of Bt500,000, based on the assumption that most of them cultivate 30-40 rai of paddy fields.

Boonsong said after the meeting of the National Rice Policy Committee on Monday that the second-crop pledging scheme would be financed by the remaining budget of about Bt200-Bt250 billion. This would ensure high rice prices, as farmers are guaranteed Bt15,000 per tonne for white paddy rice.

The government spent only Bt150 billion in the main-crop pledging scheme, while the total budget was set at Bt400 billion. Under the scheme, 6 million tonnes of paddy rice were pledged.

It is estimated that the pledging schemes would boost the government’s rice stocks to 8-9 million tonnes.

According to Boonsong, the government is also considering to extend the second-crop scheme to cover jasmine rice. However, the off-season crop may not gain as much as Bt20,000 per tonne.

Jasmine rice is normally cultivated during November and February. Some Northeastern farmers however grow it later, due to the changing weather condition.

Source: The Nation