BANGKOK (Reuters) - The Thai cabinet has approved a 21.2 billion baht (419 million pounds) budget for subsidies for rubber farmers, double the amount initially proposed last week, a government spokesman said on Tuesday.

"The scheme would run from September and each household would be given 2,520 baht per rai (0.16 hectare)," Chalitrat Chandarubeksa told Reuters.

The government has faced protests from farmers over low prices and has offered the subsidy to help them at a time of depressed global demand, which is expected to hold market prices down.

(Reporting by Pracha Hariraksapitak; Editing by Alan Raybould)