At a dusty Thai rice mill, Yusef Ahmad's shoulders drop and his face winces as he finds out his rice will fetch just 20 cents a kilogram.

Key points: Global rice prices have hit a nine-year low, hurting Thai farmers

Global rice prices have hit a nine-year low, hurting Thai farmers The Thai junta has announced a rescue package for jasmine rice growers

The Thai junta has announced a rescue package for jasmine rice growers Former PM Yingluck Shinawatra says the plan is 'not different' to her policy

Former PM Yingluck Shinawatra says the plan is 'not different' to her policy Ms Yingluck was fined $1.3 billion for her failed 'rice pledging' policy

Late rains meant he was only able to grow seven tonnes this season and the money won't go far for his three children.

"It's very low, I got nothing, I won't make any profit," he told the ABC.

Across Thailand it's a similar story, with global prices hitting a nine-year low.

"The price of fertiliser is getting higher but price of rice keeps dropping," said Kasem Rangsikul, as he watched a harvesting machine strip his paddy.

Keeping the millions of rice farmers happy is a matter of political survival as much as economics for the military junta, which ousted former prime minister Yingluck Shinawatra in a coup in 2014.

The main rice-growing region in the country's north is also a vote bank for the Red Shirt faction, aligned with Ms Yingluck and her brother Thaksin Shinawatra.

Yusef Ahmad says the $0.20 a kilogram he will get for his rice means there'll be no profit margin. ( ABC News: Liam Cochrane )

With the harvest underway, the Government has announced a rescue package, offering growers of jasmine rice a premium rate if they agree to store their crop for several months, hoping global prices bounce back.

But it is less generous than past schemes, as the generals try to wean farmers off financially unviable populist policies.

"The Government has a limited budget," Prime Minister General Prayut Chan-o-cha said.

"We will do whatever we can but we can't offer more than that even if it benefits the farmers, because it's illegal."

Similar scheme attracts $1 billion fine

The Prime Minister's comment is a pointed reference to the 'rice pledging' policy introduced by Ms Shinawatra.

Ms Yingluck's supporters greet her with paddy rice, reinforcing the crop's vital role in Thai politics ( Reuters: Chaiwat Subprasom )

Her government paid around twice the market rate and stockpiled rice, thinking that would force global prices up.

It was a huge gamble and it backfired, with losses estimated at $20 billion.

In a move that may terrify politicians worldwide, Ms Yingluck is being held personally accountable for the policy failure, with a $1.3 billion fine imposed by an administrative order last month.

In addition, she faces criminal and civil charges.

Outside the Supreme Court on Friday, she noted the similarities between her alleged crime and the junta's current rice scheme.

"In terms of policy, it's not different from rice pledging," she said.

Some of her supporters greeted her with bouquets of paddy rice, reinforcing the crop's vital role in Thai politics.

The military Government had promised elections in 2017, but the death of widely-revered King Bhumibol Adulyadej in October and one-year mourning period, mean polls are likely to be pushed back to 2018.

For millions of Thai farmers, that means surviving at least one more harvest before the chance to choose their leaders.