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20/11/2020 10:50 AM  #1

BAAC pays income insurance for maize growers

BAAC pays income insurance for maize growers on the first day 1.39 hundred thousand

Mr. Mint Ngoenruang, Deputy Manager of the Bank for Agriculture and Agricultural Cooperatives (BAAC), revealed that BAAC began to pay income insurance for maize growers in 2020/64 for the first day according to the Cabinet resolution ( Cabinet) to build income security for farmers
By determining the price and the amount of income insurance for animal husbandry at moisture of 14.5%, 8.50 baht per kilogram, per household not more than 30 rai, target farmers of more than 452,000 households, spending a budget of more than 1,800 million baht

The first day, the money was transferred to 139,018 farmer accounts opened with BAAC, amounting to more than 637 million baht and will pay compensation for the price difference every 20th of the month for a period of 12 months, which farmers can check. Money transfer exams through BAAC A-Mobile 24 hours a day

In accordance with the Cabinet resolution on August 18, 2020, the BAAC approved the 2020/64 income insurance program for maize farmers to help corn farmers earn stable income. Alleviating the suffering of the slump of corn prices and create career stability. 452,000 farmers target with a budget of 1,867 million baht, income insurance for maize farming at 14.5% moisture content, 8.50 baht per kilogram per household, not more than 30 rai. 139,018 persons, totaling 637.90 million baht

For the criteria for payment of income insurance for farmers, maize farmers Farmers registration for the year 2020/64 must be registered with the Department of Agricultural Extension. The crop was notified from June 1, 2020 to May 31, 2021 and the harvesting period coincided with the announcement of the reference middle price In which the Department of Agricultural Extension will examine the information slotxoand send it to BAAC for direct transfer of money to farmer's account The said income guarantee is the difference between the income insurance price and the reference median price set by the Subcommittee on Supervision and determines the reference criteria for the Maize Farmers' Income Insurance Scheme. There will be compensation for the difference. Prices every 20th of the month for a period of 12 months (until October 2021).

One plot of land can receive a one-time income insurance. In the cultivation cycle June 1, 2020 - May 31, 2021 only in order not to make duplicate payments Farmers can verify money transfers via the BAAC A-Mobile application 24 hours a day or at all BAAC branches nationwide. There will be a notification message via LINE Official BAAC Family when the funds are credited to the account in the event that customers apply for BAAC Connect service.


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