B90m To Destroy Mortgaged Longan

[churchill]

The cabinet has approved a proposal to destroy all longan stocks mortgaged during the government of former prime minister Thaksin Shinawatra in 2003 and 2004, at an estimated cost of 90 million baht.

Prime Minister Abhisit Vejjajiva said on Tuesday the stored fruit could no longer even be used as fertiliser.

It must be destroyed to prevent officials from ever again intervening in the prices of agricultural goods without careful management, he said.

http://www.bangkokpost.com/breakingnews/14...troying-longans

-- Bangkok Post 10/06/09

[churchill]

"He said the longan mortgage scheme had cost three billion to four billion baht in total, and had even affected the current longan prices in the market."

How does one mortgage a Longan ? It seems difficult enough to mortgage a house in Thailand ?