NRPC: Rice mortgage quota raised to 6 million tons

BANGKOK, 4 June 2009 (NNT) – The National Rice Policy Committee (NRPC) has resolved to raise the rice mortgage quota from 4 million tons to 6 million with a total budget of 24 billion baht.

After presiding over a two-hour meeting of the NRPC today, Prime Minister Abhisit Vejjajiva said a conclusion on the mortgage quota for off-season paddy had been reached. He announced an increase of the quota from the previous 4 million tons to 6 million tons, which to be accepted at an unchanged rate of 11,800 baht per ton. The Prime Minister stated that a 24-billion-baht budget would be provided by the Bank for Agriculture and Agricultural Cooperatives and that the mortgage period would run until July 31, 2009.

Among those attending the meeting were Deputy Prime Minister Korbsak Sabhavasu, Commerce Minister Pornthiva Nakasai, Deputy Commerce Minister Alongkorn Ponlaboot and Agriculture Minister Theera Wongsamut.