Thailand supports fertilizer costs for farmers

Thailand to subsidize farmers’ fertilizer costs The Thai Cabinet has approved a budget package of 29.9 billion baht (810 million USD) to support farmers’ fertilizer costs, as rice output this harvest season is expected to increase by 10%. According to a VNA correspondent in Bangkok, the Thai Cabinet has approved a budget package of 29.9 billion baht (810 million USD) to support farmers’ fertilizer costs, as rice output this harvest season is expected to increase by 10%. According to the plan, in the 2024-2025 crop season, the Thai Government will subsidize farmers’ fertilizer costs at 500 baht (13.5 USD)/rai (Thai unit of area measurement, equivalent to 1,600 square meters), up to 20 rai/person. The program is expected to be implemented from July 15, 2024 to May 31, 2025. Farmers can buy fertilizer from state-registered stores, using 15 state-regulated fertilizer formulas, at prices below market prices. Purchases must be made using the Bank for Agriculture and Agricultural Cooperatives app, so farmers who want to participate in the program must register with the Ministry of Agriculture and Cooperatives. An estimated 4.68 million farmers are expected to benefit from the program. The government has earmarked 56 billion baht ($1.5 billion) in 2023 to subsidize farmers’ expenses, helping them reduce production costs by an estimated 1,000 baht ($27) per person, said government spokesman Chai Wacharonke. However, most of the money goes to landowners, while farmers who rent land do not benefit. Chai stressed that this year the approach has changed by directly subsidizing the cost of fertilizer to farmers, ensuring that the benefits reach the farmers. The Thai cabinet has also approved a 4.7 billion baht ($127 million) supplementary budget for water management and storage. The decision comes amid forecasts that rainfall this year will be 10% higher than in 2023, requiring appropriate response plans. About 125,000 rai of land are expected to benefit from the policy, with an additional 115 million cubic meters of water storage capacity, benefiting 67,000 people. #thailand #nongdanthailand #phanbon

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