The majority of them, according to Pramote Charoensilp, president of the Thai Agriculturist Association, are small-scale rice farmers who rent their property.
“Most farmers carry heavy debt loads. We expect the incoming administration to address this issue. Over 62 million rai [24.5 million acres] are farmed by about 4.6 million households, or over 20 million people. They contribute significantly to the nation’s economy, according to Pramote.
He also urged the government to lower the price of fuel, power, pesticides, and fertilizers to assist farmers in lowering their production costs. According to Pramote, this will increase their level of competition with farmers in nearby nations.
Over 90% of Thai farmers, according to organization vice president Decha Nutalai, are indebted.
“We want the new government to address this issue and find solutions to assist farmers in reducing or eliminating their debt burden,” he said.
There are over 8 million farming households in Thailand, and 4.6 million of them grow rice, making Thailand the world’s top exporter of the grain, according to the Ministry of Agriculture and Cooperatives.According to Assoc Prof. Aat Pisanwanich, head of the university’s Centre for International Trade Studies, a survey by the University of the Thai Chamber of Commerce revealed that roughly 70% of Thai agricultural households have debts ranging from 100,000 to 300,000 baht each.
“Over the past five years, the majority of the debts were racked up. Farmers did not have a lot of debt before to that, he claimed.
According to the professor, Thai farmers are among the poorest in Southeast Asia, and their relative poverty is nothing new. He referenced a 2012 survey that revealed the average yearly income of Thai farmers to be 29,035 baht, whereas it was 54,218 baht for Vietnamese farmers and 29,278 baht for farmers in Myanmar.
Senior researcher at the Knowledge Network Institute of Thailand, Assoc. Prof. Somporn Isvilanonda, stated that natural disasters, climate change, pests, and fluctuations in farm commodity prices pose risks to Thai farmers. According to Somporn, these circumstances have resulted in significant debt for many farming families.
The transformation of the supply chain for significant cash crops into a value chain is a top priority for the incoming administration. According to him, biotechnology should be used in conjunction with digital and green technologies to spur innovation, assist farmers improve their output, and boost their revenue.
