Arab Today, arab today thai junta flipflops under farmer fears
Last Updated : GMT 07:38:09
Arab Today, arab today
Arab Today, arab today

Thai junta flip-flops under farmer fears

Arab Today, arab today

Arab Today, arab today Thai junta flip-flops under farmer fears

Farmer fears
Bangkok - Anadolu

After months of casting scorn on the “populist policies” of the government it overthrew, the Thai junta has now taken a page from deposed Prime Minister Yingluck Shinawatra's book - instating public assistance to farmers amid mounting pressure and the threat of demonstration.
Among the first to win over the junta’s reluctance are rubber farmers from southern Thailand who obtained a promise from the military Tuesday that the country's 210,000 ton stockpile of rubber will not be sold – an event they feared would have brought a collapse in the world prices.
“There will be no protest if the National Council for Peace and Order [NCPO, the junta’s official name] keeps its promise,” Uthai Sonlaksap, the rubber council’s president, told local media after a meeting with a junta representative.
Thailand is the world’s largest producer and exporter of rubber.
Yingluck's former government was buying rubber at $3.2 a kilo - far above market prices - in an effort to placate rural supporters, but since overthrowing the government May 22, the junta had stopped all direct subsidies, even though the cost to produce a kilo of rubber is $1.85 - 6 cents above market price. At the start of the year, the market price was US$2.45.
Rubber farmers from the south, a fiefdom of the Democrat Party opposed to the overthrown government, were staunch adversaries of Yingluck’s administration and scores of them had joined anti-government protests in Bangkok from November to the May 22 coup.
Despite having cheered when the military took over, they then felt betrayed after the junta stopped all public assistance to farmers, be they rice or rubber tree.
In addition to the promise to refrain from putting rubber stocks on the world market, the junta also announced Tuesday a $186 million 10-year budget to stabilize rubber prices and conduct research on rubber production.
Criticisms have been mounting in the last days against suppression in the 2015 budget - approved August 18 - of all subsidies to farmers.
“The NCPO needs to accept that some subsidies may be necessary for growth and redistributive objectives and a well-designed policy needs not be corrupt, inefficient or disruptive to the market or longer-term reforms,” former Prime Minister Abhisit Vejjajiva, an economist by training, wrote Tuesday in a Bangkok Post column.
A massive loss-ridden rice subsidy program launched by the previous government has been stopped by the junta, which on taking control immediately paid $2.7 billion to farmers who had been waiting their dues for months.
Micro-credits, village funds and other help schemes under the Yingluck administration have also been cancelled amid junta worries over the rising level of debt, which currently stands at 82 percent of the GDP.
On Tuesday, the Bank of Agriculture and Cooperatives announced that it will extend - on the junta’s order - a 10-year loan of $344 million to farmers at an interest rate of 12 percent, in an effort to fight off loan sharks who charge rates from 36 to 60 percent a year.
Farmers who are heavily indebted with banks often end up borrowing from loan sharks just to pay the interest on their loans - entering a never-ending cycle of debt.
* Anadolu Agency correspondent for Ankara Bahattin Gonultas contributed to this story.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today thai junta flipflops under farmer fears Arab Today, arab today thai junta flipflops under farmer fears

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday