The Cabinet approved subsidies to rice farmers today, for the purchase of fertiliser and microbial pesticide at 500 baht per 0.16 hectares per household or a total of 10,000 baht for 3.2 hectares of farm land for the 2024-25 crop year.

Government Spokesman Chai Wacharonke said today that, under the so-called “50:50” fertiliser support program, farmers will have to pay half the cost of fertiliser and pesticide and the other half will be borne by the taxpayer.

He said that about 4.68 million farming households, including 200,000 engaged in organic rice cultivation, who have registered with the Agricultural Promotion Department, as well as farmers who are customers of the Bank of Agriculture and Agricultural Cooperatives, will be eligible to receive the subsidies.

The total cultivated land area in the country is estimated at 8.64 million hectares, including 192,000 hectares of organic rice farming.

The program will last from July 15 until May 31 next year, at a total cost estimated at 29.9 billion baht.

Chai said that the program will help cut the production costs of farmers by about 10%, which means that they will have 10% more revenue which will, in turn, increase their purchasing power.

He also said that the program will relieve the government of the burden of funding the rice quality development and management program, which is costing the taxpayer about 54.3 billion baht annually.

Published Date: June 25, 2024