Thai Government Announces 58.9 Billion Baht Rice Price Stabilization Plan
The Thai government has proposed a 58.9 billion baht package to support rice prices and assist farmers during the 2026/27 harvest season.
According to Khaosod Online, the Thai government has introduced a 58.91 billion baht initiative to stabilize paddy rice prices for the 2026/27 production year. Deputy Government Spokesperson Lalida Peritwatthana stated that the Ministry of Commerce, overseen by Deputy Prime Minister Supajee Suthumpun, proposed the plan to manage the influx of rice entering the market during the peak harvest months of October and November.
The package, titled 'New Rice Economy,' consists of five projects. It includes 49.27 billion baht in credit facilities and 9.64 billion baht in direct compensation. A primary component is a 40.93 billion baht loan program designed to encourage farmers to delay selling their rice, targeting a volume of 3 million tons. Under this scheme, farmers can store their grain and wait for more favorable market prices, with specific credit limits set for different rice varieties, such as 13,000 baht per ton for Hom Mali rice.
For residents and travelers, this policy aims to prevent market volatility and support the agricultural sector, which is a cornerstone of the Thai economy. While the government has outlined these measures to reduce downward pressure on prices, the final implementation details and the specific timeline for the disbursement of these funds remain subject to formal Cabinet approval.
