The Farmers Assistance Policy Committee approved the plan, which will be run by the Public Warehouse Organisation (PWO) from 15 July until 30 September, writes Natalia Real of FIS.
According to the news report, department of Internal Trade (DIT) Director-General Yanyong Phuangrach said that agriculture associations and cooperatives and the PWO were to meet last week to discuss the plan. Apart from the budget of BHT 1.4 billion (EUR 29.3 million) set aside for the project, BHT 190 million (EUR 4 million) will be used for its management.
Southern farmers had warned the government they would blockade the roads if officials failed to take action to increase shrimp prices, which had been low since early 2009 due to slowing exports.
As a result, it is expected that shrimp exports will reach 396,000 tonnes this year and production 400,000 tonnes, compared to last years heftier exports of 495,000 tonnes, the Bangkok Post reports.
Thai Government Launches Shrimp Farm Aid
THAILAND - The Thai government has responded to shrimpers requests and on Wednesday announced it will spend BHT 1.4 billion (EUR 29.3 million) on a new mortgage plan backing 10,000 tonnes of vannamei white shrimp.
