- Thailand‘s government approves $810 million for fertiliser subsidies.
- Scheme aims to increase rice production by 10% in the upcoming season.
- Focus on direct benefits to 4.68 million farmers across the country.
Thailand’s recent cabinet approval of a 29.9 billion THB budget (approximately 810 million USD) for fertiliser subsidies marks a significant effort to bolster its agricultural sector. The initiative, targeting the 2024-2025 crop season, will subsidise fertiliser costs for farmers at a rate of 500 THB per rai, benefiting up to 20 rai per person.
In parallel, the cabinet also allocated 4.7 billion THB for water management and storage, anticipating a 10% increase in rainfall compared to the previous year. This proactive measure aims to enhance water storage capacity by 115 million cubic meters, benefiting approximately 125,000 rai of land and 67,000 people.
Thailand’s Agricultural Strategy: Fertiliser Subsidies and Water Management
Thailand’s recent decision to allocate 29.9 billion THB towards subsidising fertiliser costs for rice farmers underscores its commitment to bolstering agricultural productivity. Scheduled to run from July 15 to May 31 next year, the scheme aims to reduce financial burdens on farmers by subsidising up to 20 rai per person at a rate of 500 THB per rai. This initiative is expected to increase rice production by 10% in the upcoming harvest season, benefiting an estimated 4.68 million farmers across the country.
Simultaneously, the government has allocated 4.7 billion THB to enhance water management and storage capabilities, anticipating a 10% increase in rainfall this year. This investment aims to boost water storage capacity by 115 million cubic meters, benefiting 125,000 rai of land and 67,000 people. These measures highlight Thailand’s proactive stance in adapting to climate variability and ensuring sustainable agricultural practices.
Thailand’s dual approach of subsidising fertiliser costs and enhancing water management reflects a holistic strategy to support agricultural resilience and rural livelihoods. By directly targeting farmer benefits and preparing for climate challenges, the government aims to strengthen food security and sustainable development in the agricultural sector.
“Our aim is to ensure direct benefits reach every farmer, enhancing agricultural resilience nationwide.”
