“Currently, farmers do not get enough agricultural loans to support their crops and it is also difficult for them to approach private banks. Currently, the government grants subsidies of up to K 150,000 to rice farmers. He should consider subsidizing other crops such as oil crops and beans, ”he said.
Oilseed producers have negative cash flow because the costs typically outweigh the benefits of the harvest and it is inappropriate to extend farm loans up to 10 acres, he said.
Currently, the government provides loans to farmers through the Myanmar Agricultural Development Bank on an annual basis, but the amount is only K50,000 per acre, which is not enough and farmers have to get loans. additional from different sources with high interest rates. , they have the enormous burden of servicing this debt, said U Thein Aung, president of the Myanmar Farmers Development Association.
“We have to avoid two extremes; like forcing farmers to grow only a certain crop or giving farmers complete freedom to grow whatever they want. The agricultural sector needs a plan to help prioritize important crops. It involves considering what is in demand and taking into account the global trends for the year, ”said U Ye Min Aung. – Translated