Bangkok: The Stock Exchange of Thailand is collaborating with listed companies to address the falling prices of longan by purchasing the fruit in bulk. The Department of Internal Trade is actively working with the private sector and retailers to broaden distribution channels and increase absorption of the produce.
According to Thai News Agency, Ms. Yanee Srimanee, Deputy Director-General of the Department of Internal Trade, announced that the department is implementing measures to support longan farmers in the northern region, focusing on large-scale farms. The department has engaged with the Lamphun Provincial Commerce Office to secure cooperation from the Northern Dried Longan Producers Association, leading to an agreement to double the purchase volume from large-scale farmers. This involves increasing the daily purchase from one to two four-wheel truckloads.
Large-scale farmer groups are required to ensure the quality of their produce before dispatching it to drying plants to maintain standards. Deliveries are set to commence immediately.
Ms. Yanee emphasized that increasing the purchasing quota will ease farmers' difficulties. Additionally, the department is collaborating with retailers like Makro, Lotus (CP Extra), Tops, and Big C to enhance their purchase commitments from large-scale farmers.
The initiative also involves coordination with private sector partners and SET-listed groups such as Ngern Tid Lor, Krung Thai Bank, the Export-Import Bank of Thailand, Bumrungrad Hospital, and others. These entities are engaged in CSR activities to buy longans and create sales spaces within their organizations. Siam Commercial Bank (SCB) plays a crucial role in absorbing seasonal longan production, providing farmers with direct income.
Mr. Rongrak Panaphawutthikul, Deputy Managing Director, Head of Legal Affairs and Corporate Social Responsibility at the Stock Exchange of Thailand, announced the reception and distribution of 3,000 kilograms of longans from Chiang Mai farmers as part of the "2nd Power to Support Thai Fruits" campaign. This effort encourages consumption and supports farmers, with SET promising to match employee purchases with equal donations to partners like the Thai Red Cross. This initiative follows a similar one in July involving mangosteen donations, urging listed companies to support Thai fruit farmers.