BANGKOK, 25 February 2014 – Commerce Minister Niwatthamrong Bunsonphaisan has revealed that the National Rice Policy Committee will propose that the cabinet disburse 10-20 billion baht from the central budget to mitigate the troubles of rice growers while the government was waiting for money from rice sale.
However, the Election Commission would have to approve such a move by the cabinet. This meant that the money might not reach the hands of the rice growers by the end of this week, as promised earlier by the government.
Mr. Niwatthamrong asserted the Ministry of Commerce would continue its effort to sell at least 1 million tons of rice per month, which would raise 8 billion baht per month for the payment to farmers.
In the meantime, the Bank for Agriculture and Agricultural Cooperatives (BAAC) is considering issuing 80 billion bath worth of bills of exchange guaranteed by the Ministry of Finance, to raise money to pay the farmers.
