The National Rice Policy Committee agreed on Monday to launch a new subsidy scheme worth 18 billion baht to aid struggling farmers amid plunging rice prices.
The decision still needs cabinet approval at its weekly meeting on Tuesday.
The committee, chaired by Prime Minister Prayut Chan-o-cha, said the fresh financial aid was for 2016/17 crops. Farmers to join the scheme are required to register with the Agriculture Promotion Department of the Agriculture Ministry.
Commerce Minister Apiradee Tantraporn told reporters that farmers would receive 10,500 baht for every tonne of white paddy stored, and those who keep Thai Pathum Thani fragrant rice in their barns will receive 11,300 baht per tonne.
Under the previous package, the barn-pledging programme covers only Hom Mali and glutinous paddy. "The overall budget is set at 18 billion baht," said Mrs Apiradee "This is to help relieve grievances farmers are facing while the main crop is being harvested," she said.
The minister expected 700,000 farming households in the Central Plains will be aided by the scheme, she added.
Earlier report: Government extends rice scheme.
Prime Minister Prayut Chan-o-cha said urgent measures were needed to help rice growers but stressed that they would not distort market mechanisms.