This open access book is about understanding the processes involved in the transformation of smallholder rice farming in the Lower Mekong Basin from a low-yielding subsistence activity to one producing the surpluses needed for national self-sufficiency and a high-value export industry. For centuries, farmers in the Basin have regarded rice as “white gold”, reflecting its centrality to their food security and well-being. In the past four decades, rice has also become a commercial crop of great importance to Mekong farmers, augmenting but not replacing its role in securing their subsistence. This book is based on collaborative research to (a) compare the current situation and trajectories of rice farmers within and between different regions of the Lower Mekong, (b) explore the value chains linking rice farmers with new technologies and input and output markets within and across national borders, and (c) understand the changing role of government policies in facilitating the on-going evolution of commercial rice farming. An introductory section places the research in geographical and historical context. Four major sections deal in turn with studies of rice farming, value chains, and policies in Northeast Thailand, Central Laos, Southeastern Cambodia, and the Mekong Delta. The final section examines the implications for rice policy in the region as a whole.

Income and wealth for farm bus. have changed noticeably this decade. Debt levels have been rising, asset levels have outpaced debt despite a recent fall in land prices, and equity has more than doubled for farm bus. However, recent declines in farm income and falling land prices have raised concerns about the financial position of U.S. farms. Total farm sector debt reached a record $240 billion in 2008, a $26 billion increase over 2007. Debt is expected to decline to $234 billion in 2009. In 1986, nearly 60% of farms used debt financing. By 2007, the number had dropped to 31%. In essence, farm debt has become more concentrated in fewer, larger farm businesses. Lenders and farm operators indicate that real estate accounts for the largest use of farm debt.

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