Deputy Prime Minister and Finance Minister Kittirat na Ranong revealed late today that the cabinet has given approval to the National Rubber Policy’s remedy package that includes the allocation of 5.628 billion baht from the central budget to assist rubber farmers on urgent basis.
The budget will be used to subsidize production cost for farmers at 1,260 baht/rai per family who owns less than 10 rai of farmland.
There are an estimated 980,000 farmers who have already harvested their rubber trees or 80% of the total 990,000 farmers nationwide who have registered for the remedy package.
For farmers who own more than 10 rai of farmland, another meeting would be held on September 5 to find out additional measures to help, Kittirat said.
He added that if the allocated budget was insufficient, he would seek cabinet approval for additional budget again.