IsaanAussie

One of 2 things are going to happen sometime over the next 18months.

- The Baht is going to get significantly weaker

- the Baht will devaluate

Aussie, thanks for the explanation. It makes sense and I hope you're right. My main query was with the statement by of the Baht getting weaker OR devaluate. Surely it's the same thing as only a pegged currency can be devalued?

Well if I'm half right, and we for the moment agree that the government here will just let the Thai float, then who can benefit from affecting the exchange rate? MNC's with a lot to loose, massive investments, shrinking markets, a desperate shortage of cash and a global imbalance of trade for them, could be? How would or could they do it? Change currencies they use, sell short buy long to even out the base flow of Yen and USD. Reinvest excess currencies in the origin country and attract tax concessions for doing so. Yeah all possible.

As for pegging it is just a word in reality. Just like your washing, pegged, unpegged. Consider the need for balance between trading nations, especially ones that have the best interests of the same MNC at heart. The Baht is still as tied to the USD as it ever has been when you consider that relationship to other currencies.

Attahed is a graph of the recent FOREX rates of the AUD to both USD and Baht. Yes the USD is climbing under government intervention and the increasing value of US Treasury bonds in time of crisis, but they are still travelling in unison. To me, maybe rubbery pegs but still pegged.

AUD_THB_USD_30_day_Oct_08.pdf

Isaanaussie

I have just read an article where pig manure has been thermochemically treated to produce oil. Fancy that, not only can I grow their food with their shit, but if I can teach them to drive they can take themselves to market. Amazing...

What do you folks think about land? Will the prices on farmland in general suffer due to the global crises? What is the likelihood there will come a magic combination of a rising dollar and falling real estate prices to allow an even great buy or rental ability that might not have otherwise happened if you are dealing in dollars?

We have been looking at various properties, some closer to Bangkok, others in the hinterland. I find the prices on selling real estate here strangely out of skew with the rental rates which seem overall fairly reasonable.

On our farm in the states, we ran about a 40-60 split, 40% of the land we worked was ours and about 60% percent was rented to allow the scale we needed to operate profitably. But with what I generally see people asking for here on land prices, I am tending to develop my initial plans far more towards rental, though I worry about locking in a significant enough rental period, which brings me back to thoughts of buying if the market undergoes a correction.

Any thoughts are appreciated.

Soi224

There is no real 'market value' for land here, you can find two pieces next to each other with huge differences in price. Unless a person is desperate they will hold on for a long time, if they are desperate they will sell very cheaply and the place will go quick.

Don't forget that anyone who mentions land for sale will be looking to get a % from the owner. This is why they tell you how good it is. The price will be based on what they think you are willing to pay, not what they want and they generally think we have limitless funds.

Hi Soi224

I will follow on from what Smithson has told you, perfectly true. Thailand has only had land ownership laws for some 40-50 years and title transfers are easy enough, once your get all the "interested parties" to agree. Say a father wants to sell land, the local land office will call a meeting of all of his children and sometimes relatives and they all have to agree to the sale.

If the guy is "hot for money", that is, in debt or wants to be, the price will be low. But that doesn't mean it will be high enough for his kids. TIT

Isaanaussie

Prefer Seafood once and for all!

What most locals do to fish out here is outrageous!

Either grilled to charcoal, fried till it has the texture of crisp cardboard, salted to death, or fermented till it smells like eaten once already, or bathed in chillies, garlic till one can't recognize the fish anymore.

Yeah, but whatever they do to them, they still glow in the dark. We have all seen the flithy klong water in Bangkok and the results of phosphate runoff in the rivers. Yuck!

One of 2 things are going to happen sometime over the next 18months.

- The Baht is going to get significantly weaker

- the Baht will devaluate

Either is going to release for you significantly more TB than you are going to get at the moment.

I would like to spur the "future" debate a little with the above extract from Maizefarmer. I agree that one or the other will happen and would be interested in other views on

(a) which is the more likely?

( what are the relative consequences of the two options?

It would appear that the government is allowing the baht to float, much as they are drifting along at the moment. It is unlikely they will ever devalue out of choice. If you remember the fury hurled at the IMF when devaluation was forced on Thailand after 1997, despite the fact that it was a "rescue" package.

Since 80% of GDP in derived from export, the baht simply must go down. Australia for instance would benefit if it stays up to decrease the trade deficit, imports into Oz must decline if 30% increases continue. Britian is in the same position.

Since public opinion (under many different guises) effects things here so much, will the next major crisis be caused by the mob, currency spectulators, or just a lack of effective government?

Isaanaussie

I'm having a little bit of trouble understanding the devaluation. As I understand it the Baht has been floated since 97, there was never a devaluation. Since it is floated it cannot be devalued by the government because the market defines it's rate. Sure the govt could buy $ to try and lower the rate, but they tried this a while back and ended up with too much $.

The mob or government doesn't effect the currency, as has been shown by the Bahts strength over the last 3 years, a period which saw political turmoil and even a coup. I've now realized what the average Thai has known all along - the govt is just there for their %, there's been no effective govt here for close to 3 years.

I'm not sure currency speculators can have that much effect either, the situation is different to '97 when the baht was pegged.

So I'm interested to here theories on why the Baht would drop, Thailand exports a lot of food, which is a pretty basic necessity.

Well Smithson,

Lets beg to differ on the devaluation issue. For me it must happen and can do so in any number of self serving ways through the complex intrigue that exists here between armed forces, business interests and government. I know of no model like it after nine years and direct contact with many of those players. Anything can happen here, and over time usually will.

Thai exports now there is a typical case in point. Yes rice is in the top ten exports at about No 8 but it is not significant in value against say the auto industry at no 2. Thailand now manufactures more exports than for sale here by a large margin. The industry is global and parent companies rule. Pre-crisis local interests had controlling interest in every car company here, that has all changed. Now the operations are split, finance is controlled from home base, Japan, via a regional sales, procurement and export/trading division. In Thailand as elsewhere in ASEAN the local manufacturing operations are owned by the car company and sales by a combination of company owned and dealer networks. Globally the manufacturing arms compete on cost of production and the size of the domestic market to get their slice of the export assembly pie. If resiting means more profit, then assembly lines are moved. Hilux is the perfect example with everything now focused in Thailand globally for all five variants to the basic vehicle. All other pickup makes have moved here from Japan as well and for the same reason, cost of production and domestic market decline.

So will a blind eye be turned here for the sake of business interests? Hilux Fortuner, a PPV or modified pickup under Thai rules has coil rear springs where the excise rules clearly state leaf springs to qualify for the concessionary rate. Toyotas new plant was granted full BOI benefits but is in Zone 1 and the laws smudged. Single cab pickups must be under 1600 kgs, none are.

The mob. Well I do not know of a single Issan farmer that would travel to Bangkok to protest without someone paying his way. It's Rent a Crowd my friend, its not the mob that will change things but the money behind it.

Will the baht loose value? It has to. Thai GDP is export based at 80% and the last ten years have been all about attracting investment to industrialise the nation. Now exports are primarily manufactured goods made by foreign owned MNCs that vote with their feet.

Hope that answers your doubts.

Isaanaussie

A friend of mine stocked his pond with pla nin and tub tim. He paid a premium for the tub tim. when he sells the fish, the pla nin are worth more. The locals like them better than the tub tim. In other parts of Issan, tub tim brings a higher price than pla nin. I can't tell any difference as far as taste. The pla nin in his pond are normally larger at the same age.

Yesterday Pla nin 17 baht/kg against Tubtim 115 baht/kg in Tesco Lotus in Song Phi Nong near us.

One of 2 things are going to happen sometime over the next 18months.

- The Baht is going to get significantly weaker

- the Baht will devaluate

Either is going to release for you significantly more TB than you are going to get at the moment.

I would like to spur the "future" debate a little with the above extract from Maizefarmer. I agree that one or the other will happen and would be interested in other views on

(a) which is the more likely?

( what are the relative consequences of the two options?

It would appear that the government is allowing the baht to float, much as they are drifting along at the moment. It is unlikely they will ever devalue out of choice. If you remember the fury hurled at the IMF when devaluation was forced on Thailand after 1997, despite the fact that it was a "rescue" package.

Since 80% of GDP in derived from export, the baht simply must go down. Australia for instance would benefit if it stays up to decrease the trade deficit, imports into Oz must decline if 30% increases continue. Britian is in the same position.

Since public opinion (under many different guises) effects things here so much, will the next major crisis be caused by the mob, currency spectulators, or just a lack of effective government?

Isaanaussie

I thought I might ask how much marketing or even research effort went into the efforts mentioned above? Or for that matter into the non "Backyard Farming to quote GD" income making schemes that we farangs get involved with? How do you judge viability or is it just for fun?

Isaanaussie

Rather than undertaking serious research, I think it's a matter of seeing an opportunity and taking advantage of it. Having a longer term vision is good, but taking small steps at a time and not investing too much is important. In my case I'd be happy to make the petrol money, if I can achieve that then I'll set a new goal.

Look at JB's example, I bet his wife has an interest in ornamental plants and things took off from there. It's much easier to devote time to something you enjoy and you'll be happy with small gains. Again, the quality of life aspect comes in.

I've seen a lot of ppl come up with fancy business plans and models, but these things are usually not suited to the 'uniqueness' of LOS.

It's also good to have a balance. I'm full of crazy ideas and will lunge at anything. My Mrs. on the other hand is cautious and doesn't believe anything will work. 90% of my ideas are crazy, so I'm lucky she's around to pick holes in them.

Hi IsanAussie,

Regarding my wife's business (which I started for her) I didn't write a business plan but I did research the market - nothing fancy... I knew of some interesting plants that were selling in garden centers in the UK and then tried to find them here in Thailand. I did find some in one shop in Chatuchak Market, but they were imported from the US and therefore selling at high prices. I knew I could import them far cheaper from a lower cost country (I used the internet to find suppliers). Then as Smithson says about "taking small steps", I started with a small shade house using cheap materials (bamboo and eucalyptus) to grow the first batch of plants. The shade house started to fall apart about one year later but by that time the business had proven to be profitable. So we moved to a new house with more land so that we could build a bigger shade house and this time we used more durable materials (steel pipes and cables); that was 9 years ago and that shop in Chatuchak is now our biggest customer. We wholesale not retail.

JB.

JB,

Well done. It doesnt take much but it does require an effort to know if you are making headway. Perhaps a way of defining the different approaches we TV farmers take is to add

A farmer, is a man who makes his money on the farm and spends it in town. An agriculturist is a man who makes his money in town and spends it on the farm.

Who knows?

Isaanaussie

An old farmer was walking down the path to the pond when he spotted a bullfrog. He reached down and grabbed the frog and started to put him in his pocket when the bullfrog said,"Kiss me on the lips and I will turn into the most beautiful woman in the world." Again the old farmer started to put the frog in his pocket. The frog asked,"Didn't you hear what I said ?" The farmer looked at the frog and said," At my age I'd rather have a talking frog."

Lomsak,

I do not how long this boundary is, nor the size of the catchment area on the other side of the road but the one thing that occurs to me is you need to slow the water down and divert it. Have you considered bulldozing a earthen dike across the front of your land. On the front face plant some deep rooted grasses like vetiver now and you should have reasonable errosion pretection next year. The strip of ground between you land and the road, as well as the road will act as the channel to carry the water away to where ever, not your problem.

The flooding is for a limited time each year and the dike can be repaired or replaced much cheaper than any form of drainage. On your land, up to you. Off your land, too hard....

Isaanaussie

This will vary depending on a number of factors..

But I guess you could work on between 800 kilos to 1000 kilos per rai using Thai methods which is to throw the rice seed.

Guys, please tell me how to get that sort of yield???

I have weighted rice harvests here twice. The net yields were 400 and 500 kilo per rai. There were seasonal and fertiliser differences between both years. I personally have not seen above 550 Kg yields in my part of Isaan and that was achieved with hand sewn seedlings.

I cannot tell you what the moisture content was as I didnt have a gauge or a microwave handy at the time. However I can tell you that the rice was hand cut and then stacked for several weeks prior to machine threshing so it would have dried to some degree, but surely not enough to make up the difference to 800 or 1000 wet.

Another reason it is dried in the stack of sheaves is so it can be stored in bags in the rice barn and still be viable to plant next years crop (six months) and to good to eat for the family (12 months).

Most people in our area sell to local rice traders as there is no large mill in the immediate area. Local supplies are milled within the village. They are therefore selling paddy rice at the base price. I know of people who have sun dried rice and then have received less than they thought when the moisture content was challenged at the mill so take care you know exactly what the content is and can prove it, else, take the easy way and sell paddy. There appears to be little added return for a lot of work and considerable losses in the process.

For interest I have in the past milled our rice and brought it back to Bangkok, bagged it in 5Kg lots and sold it across the front gate at home. We sold Hom Mali 105 for 20 Baht a kg when it was 25 Baht in Big C and we would have received 8 baht for it as paddy locally. So if you are living in Bangkok and own a pickup, then this may be something you want to consider giving a fly. Normally you get get it milled in the village at an icecream container full of rice per bag cost, miller keeps the bran and hulls. You can plan on about 40% of the original weight in milled rice.

This year its a combine for me. Current estimate 600 baht per rai plus bag costs if you dont have any.

Isaanaussie

With both our currencies in the too hard basket, here one for the all the Skippies at the expense of the Kiwis out there:

Background: Many years ago there was an Australian ventiloquist named Ron Blaskett and his dummy Gerry Gee who used to charm children and give ribald performances to their parents. Well the story goes that he once toured New Zealand and ......

Blaskett took a walk in the country by himself and saw a Kiwi farmer sitting on his porch with his dog.

Blaskett: "Hey, cool dog. Mind if I speak to him?"

Kiwi: "This dog don't talk!"

Blaskett: "Hey dog, how's it goin'?"

Dog: "Doin' all right."

Kiwi: (Look of extreme shock)

Blaskett: "Is this your owner?" (Pointing at the Kiwi)

Dog: "Yep."

Blaskett: "How's he treat you?"

Dog: "Real good. He walks me twice a day, feeds me great food, and takes me to the lake once a week to play."

Kiwi: (Look of disbelief)

Blaskett: "Mind if I talk to your horse?"

Kiwi: "Horses don't talk!"

Blaskett: "Hey horse, how's it goin'?"

Horse: "Cool."

Kiwi: (An even wilder look of shock)

Blaskett: "Is this your owner?" (Pointing at the Kiwi)

Horse: "Yep."

Blaskett: "How's he treat you?"

Horse: "Pretty good, thanks for asking. He rides me regularly, brushes me down often, and keeps me in the barn to protect me from the elements."

Kiwi: (Look of total amazement)

Blaskett: "Mind if I talk to your sheep?"

Kiwi: (Gesticulating wildly and hardly able to talk)......"Them sheep ain't nothin' but liars, every darned one of 'em!!!!

But then maybe only "Maree knows".....Bahhhh.

I've been trying unsuccessfully to find out the English name for the fish Thai's call Tubtim. Does any body know? Also, how difficult is it to rear the fish and how long before they are ready to eat?

Cheers for the help.

Smithson,

Find attached document (with full credits to Nam Sai Farms, whose web site I dragged it from some time ago) it is the best overview on Tilapia growing here in Thailand I have read.

Tilapi_Farming_manual.doc

Isaanaussie

I picked this up from today´s Bkk Post

The government also aims to encourage farmers to unite as agricultural co-operatives to establish their own silos and learn how increase their bargaining power.

How are you selling at present?

Would it make sense to stimulate your village / area into something like this assuming that you yourself plus the community profit?

What does it take to build a silo which functions ?

Hi Phuket,

As we would say in Oz, that is really "feeding the chooks" (casting your seed on the ground). Thailand is full of agricultural co-ops. They are controlled by the same chinese thai trading interests that buy at rock bottom farm gate prices from farmers and sell inputs to the farmers at retail. The same interests that sell finance to the farmers at 3baht rates (3% per month). Membership of the co-op is often unaffordable to the average farmer and some shun the rules and restrictive trading regulations that some of the co-ops impose.

I would like to see the background work that went into that government statement. I would think that anyone who has lived in a Thai village would question any possibility that would work. Do they honestly think that the likes of CP can be tackled by a group of rag arsed thai farmers? Study Thai agricultural history and is apparent that few things have changed since the days when slave grown wetland rice funded the God-Emperor kingdoms of a few hundred years ago.

Rhetoric my friend, nothing but a press opportunity..... read the attached final chapter of a book published about 2001.

thai_ch15.pdf

Isaanaussie

For me the last few posts show farmers that are serious. There is no emotional help the family, they are talking nuts and bolts business outcomes. The realities of that so scarce a commodity here in the Thai farming community, money. I applaud your enterprise in investing in the equipment and as we say in Australia "having a go", good luck.

At 600 Baht per rai, you have my business my friend and as much more as I can point your way to justify the small acreage I have (around 13 rai). In terms of perspective, it has cost me 5-6000Baht for locals to hand cut our rice in past years, then a few bags of the outcome go to the guy with the thresher, on and on goes the drip....

End result for bagged rice at your rates...1. economical...2. under my control Sounds good to me

Isaanaussie

Mali,

You raise an interested issue here when quoting "pnustedt", that being the government price guarantee of Bt14/kilo. That promise has already been reneged down to 12 Baht and there is no evidence to suggest that the rice traders will even pay that. Remember, those same crops were fertilised at twice the price of the 2007 crop. Who knows where a "fair return" will be for people like PN on his 4 million baht investment in two stainless harvesting wonderments, let alone for the rice farmer who may employ him. Two things are certain, one limited funds to use subcontractors, and secondly, many more machines vying for the business.

When I spoke to PN last, he was going to wait and see what prices were being charged and then make sure he was competitive. As raised by others on this thread, farm produce prices are declining and will continue to do so. Return on investment this year will be negative for most. As PN said, any small return is better than none.

I pity those that listened to the hipe earlier this year and borrowed against potential returns. Sadly I fear, NPL's, repossessions and foreclosures appear the short term future for many. I doubt people will seriously consider a finance ministerial comment of the US problems not coming here because they are 12 hours away as informed comment.

Isaanaussie

Hi all,

There have been some interesting points made here but a general theme emerges that farming is a supplementary income source for most. There are exceptions such as a life of farming in Thailand for MF and from personal knowledge of a few whose small pensions allow life as a farmer to be continued much as it was in their homeland.

For me, retirement is achieved when you're in a box grasping the lily. Recent events could not have been timed any worse and holding AUD is not the place to be. Yet roll the two factors together tells you what motives me and always has. The thrill of the chase.... Where there is a will, there is a way, all I have to do is find it.

Slapout, you indicated that if all else failed you would settle for a subsistence life on the farm. For me, I wont settle for that, I welcome it. As you said, that is what farming has been all about for many years and it is unlikely it will change any time soon. Sustainable subsistence.... LIFE.

Rise to the challenge and leave the bears and the bullshit behind.

Isaanaussie

The Battler's Buddy

It worries me to, these days I wouldn't be investing in anything that wasn't a basic necessity. Considering this there may be opportunities in farming, as food's pretty important. In the coming years it may be more a matter of surviving rather than making money. If your living in rural Thailand without debt you're in a pretty good position...relatively to other sectors like tourism and exports of non-essentials.

That is my one claim to fame, debt free. Sorry my second claim, the primary one is the wife. Wealth isn't on the check list but sufficient funds to make our pig farm materialise. All my sums were done on average income values since the 97 crash, and costs on current plus 5%. So my situtaion isnt so bad. The current situation limits capital expenditure and spreads that spend timescale....

Isaanaussie

Rather than undertaking serious research, I think it's a matter of seeing an opportunity and taking advantage of it. Having a longer term vision is good, but taking small steps at a time and not investing too much is important. In my case I'd be happy to make the petrol money, if I can achieve that then I'll set a new goal.

Look at JB's example, I bet his wife has an interest in ornamental plants and things took off from there. It's much easier to devote time to something you enjoy and you'll be happy with small gains. Again, the quality of life aspect comes in.

I've seen a lot of ppl come up with fancy business plans and models, but these things are usually not suited to the 'uniqueness' of LOS.

It's also good to have a balance. I'm full of crazy ideas and will lunge at anything. My Mrs. on the other hand is cautious and doesn't believe anything will work. 90% of my ideas are crazy, so I'm lucky she's around to pick holes in them.

Agree completely. If it isn't fun, dont do it. There is always a but, isnt there! ..so.. BUT, what happens when that opportunity grows and needs to be properly capitalised? Not just another banana stand in the long row at the side of the road. Then the risk factor is increased and demands knowledge. Sorry if I am a bore but the current economic situation definitely worries me.

Hi Crystal Ball Gazers,

There have been a number of interesting inputs on this thread suggesting different niche products and how they are being sold as supplemental income without incurring additional overhead. Like the good ol' lemonade stand outside the frontgate back home as a kid. More lemons than you could poke a stick at on the tree in the backyard so with the exception of the missing sugar from Mums kitchen, little cost except elsewise idle holiday effort.

I thought I might ask how much marketing or even research effort went into the efforts mentioned above? Or for that matter into the non "Backyard Farming to quote GD" income making schemes that we farangs get involved with? How do you judge viability or is it just for fun?

Isaanaussie

Research, Research, Research & Location, Location, Location.

Seriously!

Well actually very seriously. But those for whom it is fun, enjoy..

Hi Crystal Ball Gazers,

There have been a number of interesting inputs on this thread suggesting different niche products and how they are being sold as supplemental income without incurring additional overhead. Like the good ol' lemonade stand outside the frontgate back home as a kid. More lemons than you could poke a stick at on the tree in the backyard so with the exception of the missing sugar from Mums kitchen, little cost except elsewise idle holiday effort.

I thought I might ask how much marketing or even research effort went into the efforts mentioned above? Or for that matter into the non "Backyard Farming to quote GD" income making schemes that we farangs get involved with? How do you judge viability or is it just for fun?

Isaanaussie

Isaan A. said several things that are worth their weight in gold. The 1'economical with the truth' and 2'people claiming knowledge with little/no hands on experience' are classic. Also remember that family labor will more than likely expect pay each day they show up at the farm. As a futher note "family labor" seem to spend a lot of time in the shade discussing what to do, who will they assign to do it, best method (refer to 2), who will furnish lunch, snacks, beer, whiskey etc (you will probably pay) You and your wife will have to be personaly involved in day to day operation (on site) and as has been noted many times by old hands on TV, the farang input is more than likely ignored or discounted , unless it goes thru a Thai (your wife)

Slapout,

You have obviously been there and done that. Completely agree. As I have stated before, I stay out of the financials in public, let the BIL run the work after he understands what is needed. My job is then to steer him in the desired direction. Works well, and you get a days work out of the family as well.

Isaanaussie

Thanks Issan Aussie,

They want to grow sugar cane as this is what some others are doing as well and what they know best. there are uncles, cousins, etc who will be working the land, so besides the fertilizer and initial investment there shouldn't be too much.

Cost of living; well, that's what i take care of now already and what i am trying to reduce / stop by giving them this land...

What are you doing up there? And what area are you living?

Cheers,

CH,

I am in ythe process of moving up to Sisaket permanently. Currently, rice and a range of things being tested for animal feed production are the main things. All in preparation for a small pig farm which is under construction. A few chickens and some fish...

Two observations. Thai people are mostly generous when it comes to handing over money and the expectation is that farangs have heaps and wont miss it. I have fought hard to change this preception within our family and now contribute our fair share but expect that they contribute too. Nothing for nothing, you can feed a lazy man forever.

Second thought and again this is only my personal observation. I have often found that people will claim knowledge of a certain trade or skill when in reality they may only have seen others doing it or have been told the basics. If they really know then as you say it shouldn't cost much, if they dont then look out as there maybe a lot of cost in finally getting it right.

Isaanaussie

In the last few years I have found it hard to get up to date major crop prices etc.. You can get updates from DITs web site. For example here are most of the items posted on the 17th, still on the web.

Isaanaussie

Hi there,

amazing forum, I've been reading a lot here, yet this is my first posting. Living and working since 4 years in the south, my wife from udorn.

My wife is going to buy 22 rais up in Udorn, Baan Phue area. It's this government project land so we do not actually get the papers, just doing a contract with the current owner. I've read enough to know that this is not save, might loose the land, etc. But this is my wife's risk and she knows all those people and thinks it's not a problem. I can live with this since we buy for 15'000 baht a rai which seems to me a good price, no flooding area, already used for sugar cane for a few years, road access, etc.

To come to my question; Is the only risk to loose the land or is it actually illegal and my wife could get in some trouble with this?

The main purpose to buy the land is to give the family something to do and earn there own money instead of living on what they get from my wife and her sister.

Thanks in anticipation

CHFarang

Hi my assumed Swiss friend CH welcome,

I do not want to be presumptive but I assume that the risk capital on the land is not the issue. So with that in mind, I offer what benefit my nine years of living here has for you.

If the land is acquired and the family works it, and lets assume that they will actually do that so there is not a constant "additional" labour requirement. The issue for your wife, and I presume yourself, will be funding whatever they choose to grow. Farming equipment, seeding, planting, fertiliser etc..etc.. plus the cost of living while it grows should be calculated in advance as no farming enterprise will yield an instant result. Margins here are very slim and returns long term as they are anywhere in farming. Compound all of that with the onset of the dry season and the cost of establishing "self-sufficiency" will be quite high.

Before you become part of this equation, perhaps your wife and yourself should sit down and consider the non land purchase overhead costs, how much, and how can that expense be accounted for.

Remember that Thai people do not like to create problems for others and in "farang speak" are as a result reasonably economical with the truth.

Good luck, risk nothing but the money as life is too short.

Isaanaussie