The National Rice Policy Committee (NRPC) is set to cut the rice-pledging price to 12,000 baht per tonne and cap the pledging value at 400,000 baht per household.
Wiboonlasana Ruamraksa, director-general of the Internal Trade Department, in his capacity as NRPC secretary, said the new pledging price and ceiling had been agreed to by the Commerce, Finance and Agriculture ministries as well as the Bank for Agriculture and Agricultural Cooperatives.
The price and ceiling amount will be finalised after discussions with rice farmer associations which earlier proposed a pledging price of 13,500 baht per tonne. The current pledging price is 15,000 baht per tonne and the total value is capped at 500,000 baht per household.
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