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BAAC transfers money insurance for rubber farmers and subsidies for rice management over 1 billion baht

Monday 17 January 2022

The BAAC has transferred more than 480,000 rubber farmers’ income insurance, the 1-2nd round, and the 3rd round to farmers’ accounts directly today (14 January 65) for more than 480,000, totaling more than 500 million. Baht, as well as transferring money under the project to support management and quality improvement of rice farmers, the 3rd production year 2064/65 to more than 62,000 farmers, in the amount of more than 400 million baht.

Mr. Kab Ngern Ruang, Deputy Manager of the Bank for Agriculture and Agricultural Cooperatives (BAAC) revealed that according to the Cabinet resolution dated November 30, 2021 and the BAAC committee’s resolution on December 3, 2021 approved the budget and Assigned the BAAC to implement the rubber farmer income insurance project, phase 3, so that rubber farmers have a stable income from income insurance. Help alleviate the trouble from the problem of falling rubber prices. Due to the economic recession due to the epidemic of the COVID-19 virus natural disaster And help create career stability. Today (January 14, 2022), the BAAC has transferred the insurance money directly to farmers’ accounts for the 1-2nd round and the 3rd round to 484,609 farmers. in the amount of 568 million baht

The project is to guarantee income according to each type of production, namely, good quality raw rubber sheet, price insurance 60 baht/kg, fresh latex (DRC 100%), price insurance 57 baht/kg, and rubber cup lump (DRC 50%), price insurance 23. Baht/kg target of 1.88 million farmers, 19.16 million rai of rubber plantation area, budget amount 9,783.61 million baht.

In addition, on the same day, the BAAC has transferred money under the project to support management costs and improve the quality of rice farmers, the 3rd production year 2064/65 to 62,374 farmers, amounting to 490 million baht to help and relief. The suffering of farmers from the burden of higher production costs as well as to incentivize farmers to maintain good quality rice in order to have the opportunity to sell rice at a higher price and earn more The government supports money for farmers who are registered as rice growers, production year 2064/65, round 1 with the Department of Agricultural Extension. Ministry of Agriculture and Cooperatives at the rate of 1,000 baht per rai, a maximum of 20 rai or not more than 20,000 baht per household. Target farmers of 4.69 million households Budget amount of 53,871.84 million baht

In this regard, farmers can check the results of money transfers via the BAAC A-Mobile application 24 hours a day, and there will be a message alerting the money to the account via LINE Official BAAC Family in case customers apply for the BAAC Connect service. Including being able to withdraw cash through ATMs of BAAC nationwide

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