The Agriculture and Cooperatives Ministry launched “Kaset Sukjai” cards for more than three million farmers across the country on Sunday. The cards can be used to buy farm-production materials through two Pracha Rath projects, which aim to help reduce farmers’ costs. “The government has approved more than Bt93billion for these projects,” Deputy Agriculture Minister Luck Wajananawat said as he presided over the launch of the projects in Chachoengsao province. Bank for Agriculture and Agricultural Cooperatives (BAAC) president Apirom Sukprasert said the Kaset Sukjai cards could be used at more than 25,000 participating shops across the country. These shops are operated by agricultural cooperatives. “Each card can provide capital of Bt30,000 in the form of a loan with an annual interest rate of MRR [Minimum Retail Rate] less 3%,” Apirom said. At present, the MRR rate is at seven per cent a year. He said the other Pracha Rath project gave farmers the chance to buy made-to-order fertiliser, enabling them to tailor the fertiliser to suit their farm’s soil conditions.
Thailand's Peoples is offering the nation's farmers access to low-cost loans and made-to-order fertiliser via two Pracha Rath (Agriculture and Cooperatives Ministry' State) projects. Under the THB93bn ($3bn) schemes, Kaset Sukjai cards can be used at more than 25,000 participating stores to access capital of THB30,000 with a discounted interest rate of 3%, compared to a market rate of 7%. In addition, farmers can use the cards to purchase fertiliser tailored to their soil conditions.