The Bank for Agriculture and Agricultural Cooperatives (BAAC) has introduced two financial aid schemes for cassava growers coping with the drought crisis.
1. BAAC Managing Director Luck Wajananawat said the first program will provide a loan of five billion baht to 100,000 farmers to postpone their cassava cultivation, as an oversupply of 21 million tons of cassava is expected to flood the market until April.
They are advised to harvest and sell their cassava only when the market price is higher. They will also have enough money to pay for household expenses while waiting to sell their cassava.
As for the second scheme, the BAAC will allocate a total of 4.6 billion baht to 20,000 farmers who wish to install a drip irrigation system in their cassava plantations. Farmers eligible for these schemes must be existing or prospective BAAC clients. Those interested are encouraged to contact the bank’s call center at 02-555-0555 or visit its website at www.baac.or.th for more information.