Knocked income insurance for rubber farmers, phase 2, 5-6 installments, an additional 4.99 billion.
On February 24 at the Ministry of Agriculture and Cooperatives, Mr. Prayoon Insakul, Deputy Permanent Secretary, Ministry of Agriculture and Cooperatives. Disclosed after the Executive Committee meeting Rubber Farmers’ Income Insurance Program, Phase 2 That in respect of the past performance Ministry of Agriculture The list has been sent to the Bank for Agriculture and Agricultural Cooperatives (BAAC) to make payment in installments 1-4, approximately 9,333 million baht, or 96.04% of the budget for compensation that The Cabinet approved a total of approximately 9,717 million baht, remaining approximately 384 million baht and from the current situation where the price of rubber fluctuates. Not in line with the expected rubber price
Mr. Prayoon said that From price fluctuations, resulting in RAOT has to use the budget to compensate the insurance price difference in installments 5-6, the amount of approximately 5,265 million baht, which exceeds the amount previously approved. The meeting therefore passed a resolution approving an additional budget of approximately 4,990 million baht. Divided into budget for insurance for rubber farmers income of approximately 4,880 million baht and budget for compensation of money costs in the 12-month fixed deposit rate of BAAC plus 1 within the limit of 109.8 million baht.
Previously, however, the Cabinet (Cabinet) passed a resolution to implement the Rubber Farmers’ Income Insurance Program Phase 2 by the Rubber Authority of Thailand (RAOT) targeting 1,834,087 farmers participating in the project.
Mr. Prayoon further said that it is divided into 1,142,294 rubber planters registered with the Rubber Authority of Thailand, 419,060 farmers who inform the rubber planting area with the Rubber Authority of Thailand and 272,733 rubber tapping people registered with the Rubber Authority. The amount of compensation has been set for 6 times: 1st time October 2020, 2nd time November 253, 3rd time December 2020, time January 2021, 5th time February 2021 and 6th time March 2021, which will be paid for the following month each time.
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