(Photo: Somchai Poomlard)The Bank for Agriculture and Agricultural Cooperatives (BAAC) has mulled two options to ease the burden on farmers caused by rising chemical fertiliser prices, says bank president Tanaratt Ngamvalairatt. The chemical fertiliser price has soared 87% from 10,000 baht per tonne to 18,700 baht per tonne as a result of the Russia-Ukraine war. Last year the value of chemical fertiliser imports stood at 56 billion baht. Thailand imported 1.25 million tonnes of fertiliser from China worth 17 billion baht, accounting for 23% of total fertiliser imports. Mr Tanaratt said loans for farmers to buy chemical fertiliser account for 30-35% of the BAAC's outstanding loans of 560 billion baht.

Source: Bangkok Post April 11, 2022 07:18 UTC