Yingluck caps rice subsidy spending, limits each farmers household at getting US$10,000 max

Several local Thai press and global press reports that the Yingluck government will cap rice subsidy, the total value for each qualifying household, at $10,890 per household. Thai Cabinet has also extended rice subsidies. Deputy Prime Minister Kittirat said Tuesday the Cabinet approved a total budget of $8.4 billion to buy rice at above-market prices from farmers for another year. Under the renewed program, farmers will be paid $467 per ton. The The government said the scheme has accumulated losses of at least $4.46 billion since it was introduced in 2011. Most global press has been highly critical of Yingluck’s rice subsidy, mentioning little about their own government’s various Farm Bill.

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