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BAAC union proposes end to rice scheme

Bank for Agriculture and Agricultural Cooperatives' labour union Wednesday hosted a press conference, saying the bank now has only Bt12 billion cash to cover the rice-pledging scheme.

The union said that the amount would be sufficient to cover the pledging until the end of this month.

It also urged for the abolition of the scheme and proposed rice mortgages. Some farmers may be enlisted for rice pledging. It said that this would lower the rice price, to be more in line with market prices.


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