Deal to Boost Farm Product Value

Strategic Partnership Between BAAC and TISTR to Boost Agricultural Innovation

The Bank for Agriculture and Agricultural Cooperatives (BAAC) has entered into a significant collaboration with the Thailand Institute of Scientific and Technological Research (TISTR) to elevate the value of Thai agricultural products. This partnership, formalized through a memorandum of understanding (MoU), focuses on academic cooperation and technology transfer. The initiative aims to bring together scientific knowledge, technological advancements, and innovation to empower farmers and agricultural entrepreneurs.

Enhancing Competitiveness Through Knowledge and Technology

Chatchai Sirilai, president of BAAC, emphasized that the partnership is designed to integrate and disseminate knowledge across various domains. The goal is to help farmers and entrepreneurs, especially younger generations, apply this knowledge in production, processing, yield improvement, marketing, and addressing challenges faced by the agricultural sector. By leveraging science and technology, the initiative seeks to create added value for agricultural products and improve overall competitiveness.

One of the key objectives of the MoU is to promote the use of scientific and technological services, including production certification standards. These standards are expected to enhance the stability and sustainability of farming activities. Additionally, the BAAC will support access to financial resources, financial services, and business knowledge, ensuring that farmers and entrepreneurs have the necessary tools to thrive.

A Three-Year Collaboration with Long-Term Vision

The MoU spans three years and outlines a comprehensive approach to supporting the agricultural sector. BAAC is committed to providing assistance through capital, knowledge, technology, innovation, marketing, and the development of value-added products. This long-term vision reflects the bank’s dedication to fostering sustainable growth within the agricultural community.

Fostering Innovation and Modernization

BAAC regularly collaborates with TISTR to improve the quality of life for farmers. This includes developing modern agricultural technologies, transferring knowledge and innovation, and supporting young farmers who are eager to embrace new methods and ideas. For instance, efforts have focused on modernizing the image of agricultural products through repackaging and redesign, upgrading customer products to build community brands, and moving towards high-value agricultural products.

Success Stories: Oon-Im Ready-to-Eat Rice and Mango Jelly

A notable success of this collaboration is the development of the ready-to-eat rice product Oon-Im. This product was created by the Agricultural Marketing Cooperative in Roi Et province using research and processing technology that adheres to safety standards. It transforms geographical indication-certified Thung Kula Rong Hai hom mali rice into ready-to-eat rice using retort sterilisation technology. The result is high-quality, delicious, and standardized ready-to-eat rice that can be stored at room temperature for up to 18 months.

Since its launch in November 2024, sales of Oon-Im ready-to-eat rice, which includes varieties such as hom mali, brown rice, and riceberry, have exceeded 43,000 cups, generating more than 1.29 million baht in revenue.

Another example is the mango jelly from Pathumthip Garden in Lamphun province. BAAC and TISTR worked together to design new packaging labels for the mango jelly, making them distinctive, unique, appealing, and modern.

Expanding Market Reach and Commercialization

Weerachai Arjharn, governor of TISTR, highlighted that the objective of this cooperation goes beyond improving efficiency in production and processing. It also encompasses upgrades of product standards, the development of marketing channels, the creation of added value, and the commercialization of research output in a concrete manner.

Additionally, the MoU promotes access to funding and financial services to strengthen the business capacity of farmers and entrepreneurs at all levels. This ensures that they can sustain their operations and grow their businesses effectively.

Through this strategic partnership, BAAC and TISTR are not only enhancing the agricultural sector but also paving the way for a more innovative, competitive, and sustainable future for Thai agriculture.