Thai Farmer Debt Management

Abstract

This research aims to study to find out the effective way to manage and suitable for Thai farmers' debt by using in-depth interviews of 200 formerly able and recoverable farmers in the past, representing 10 government agencies in charge of agriculture. There were 10 people interviewed and 5 representatives from the informal sector.

              The study results that the effective management of Thai farmer’s debt both of farmers and government should do the following: Farmers sector 1) Household accountancy. 2) Debt settlement. 3) Access to finance and loans in the system and avoidance of informal borrowing. 4) Mixed farming. 5) Focus on quality, productivity and market demand.             6) Networking and and consolidate farmers' groups. 7) Introduce the philosophy of sufficiency economy. The government 1) Guarantee the price of produce and find markets to support and heal the farmers who have suffered from natural disasters. 2) Educate the farmers on the proper planting of the weather. 3) Expand the loan and increase access channels. 4) Support technology, research and development of products and labor’s skilled in agriculture. 5) Reduction of production costs by supporting basic factors such as fertilizers, seeds, and other factors in production and further diversification into a diversified product market. 6) Promote financial discipline and provide household accounting knowledge          7) Project and problem solving counseling and risk management for farmers, and               8) Knowledge of financial management and debt management systematically.