ANNOUNCEMENT 01 Dec 2020

In December 2020, Thailand approved THB 28.7 billion (USD 925.5 million) increased budget to guarantee the incomes of the rice farmers that were disrupted due to COVID-19 pandemic.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 01 Dec 2020 | Removal date: 31 May 2021

Price stabilisation

On 1 December 2020, Thailand approved the increased budget for the rice farmers’ income guarantee scheme by THB 28.7 billion (USD 925.5 million) from the previous budget set on 3 November 2020 (see related Act). The increased budget aimed to help Thai rice farmers at a time when the price of rice had plummeted sharply due to rice export slowdown and limited tourism due to COVID-19 pandemic. This budget was part of the rice guarantee programme to continue supporting prices until May 2021 at similar rates as the previous season.

Under the scheme, the price of rice would be guaranteed at THB 15,000 per tonne (USD 495 per tonne) for jasmine, THB 14,000 per tonne (USD 462 per tonne) for off-season jasmine, THB 10,000 per tonne (USD 330.36 per tonne) for ordinary rice, THB 11,000 per tonne (USD 363 per tonne) for Pathum Thani rice, and THB 12,000 per tonne (USD 396.43 per tonne) for sticky rice.

* THB to USD conversion as on 1 December 2020 - THB 30.24/USD

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