Wednesday, July 08, 2020

Cabinet earmarks over Bt24 bn in subsidies for rubber farmers

Oct 16. 2019
Facebook Twitter


Cabinet on Tuesday (October 15) approved a Bt24.278-billion budget for the first phase of income-guarantee subsidy for rubber farmers.

The scheme aims to ensure 1.4 million rubber farmers have a stable income for six months, starting from this month until March next year. The payments will be made via the Bank for Agriculture and Agricultural Cooperatives. 

The scheme guarantees the price of premium grade rubber sheets at Bt60 per kilogramme, latex at Bt57 per kg and cup lumps at Bt23 per kg. The maximum guaranteed amount will not exceed Bt240 per kilo per rai per year and will be limited to 25 rai per farmer. 

Farmers who have registered with the Rubber Authority of Thailand will be eligible and the scheme will only cover plantations that are at least seven years old. 

The first round of subsidy, covering October-November, will be transferred to farmers’ bank accounts between November 1 and 15, while the second round covering December-January 2020, will be paid between January 1 and 15. The third round of payments for February-March will be paid between March 1 and 15.

Facebook Twitter
More in Business
Editor’s Picks
Top News