Prime Minister Yingluck Shinawatra insists that
farmers will benefit from the rice mortgage scheme despite reservations
they may have about it.
The plan, which came into effect on Friday, has drawn criticisms from
those who say it is prone to corruption and will not benefit
small-scale farmers.Little rice had been mortgaged over the first two days of the scheme, suggesting farmers had little enthusiasm for it.
During her weekly broadcast yesterday, the prime minister said the scheme was aimed at boosting rice prices, which would boost domestic buying power.
That in turn would help bolster the domestic economy at a time when Thailand cannot rely on the global economy.
Ms Yingluck said the government would make transparency and accountability a priority.
Provincial governors were now tasked with monitoring the scheme at the local level, from issuing certificates proving farmers' eligibility to take part in the scheme to checking stocks of mortgaged rice, she said.
Ms Yingluck also said the government would strike the right balance between the volume of rice to be exported and that earmarked for domestic consumption.
The implementation of the rice mortgage scheme began on Friday and will continue until Feb 29 everywhere except for the South, where it will begin on Feb 1 and last until July 31.
Under the scheme, eligible farmers can mortgage their rice at 15,000 baht per tonne of unmilled rice with a maximum of 15% moisture, and 20,000 baht per tonne for hom mali rice.
As of yesterday, the second day of the implementation of the scheme, a very low volume of rice had been mortgaged.
In Phichit, for instance, only about 500 tonnes of rice had been mortgaged under the scheme during its first two days.
Sa Kaeo province has announced that it would postpone implementation of the scheme until next month when the next rice harvest is expected.
In Pathum Thani, a province badly affected by flooding, no farmers showed up to mortgage their rice with mills authorised to implement the scheme.
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