Commerce Ministry Needs Bt320 Billion For New Round Of Rice Subsidy

[jbrain]

If they don't stop this insanity, everyone in this country will eat rice daily for the rest of their lifes.

OK, Coat please.

[SABloke]

The numbers are staggering - bordering on insanity. Spent 10 Billion US last year and sold 5. NOw they want ANOTHER 10 to do the same.

That's 10 Billion USD in the red - 3% of total GDP. Holy sh*t!!!

[jbrain]

The numbers are staggering - bordering on insanity. Spent 10 Billion US last year and sold 5. NOw they want ANOTHER 10 to do the same.

That's 10 Billion USD in the red - 3% of total GDP. Holy sh*t!!!

They sold 5 are their own words. Unless i've missed it, they have still not come up with any answers as to which foreign government they sold any rice.

[Buchholz]

I think it must be 32 billion baht not 320....

The whole crop per year isn't worth that much..

.

400 Billion Baht on the previous crop.

320 Billion Baht for the upcoming crop.

.

[Buchholz]

Thai rice farmers threaten protest if intervention price cut

Thai farmers vowed on Monday to stage a major protest after the government signalled it was weighing a plan to cut rice intervention prices by a tenth, in another sign that the state could be running short of funds for the scheme.

"And if we don't get an appropriate response, we will stage a protest and it would be a big one."

.

.

With threats of massive protests by Pheu Thai's "bread and butter" (the rice farmers), no change in the policy, or the pricing paid out, or the 18 Million Metric Tons of stored rice, is likely to occur.

It's Jerry McQuire's... "show me the rice"

or In Living Color's... "mo' rice, mo' rice"

http://www.youtube.com/results?search_query=in+living+color+mo+money&oq=in+living+color+mo+money&gs_l=youtube-reduced.3..0.136552.142490.0.142925.24.12.0.12.12.0.99.921.12.12.0...0.0...1ac.1.HD_B8jxhk20

.

Edited March 4, 2013 by Buchholz

[SABloke]

The numbers are staggering - bordering on insanity. Spent 10 Billion US last year and sold 5. NOw they want ANOTHER 10 to do the same.

That's 10 Billion USD in the red - 3% of total GDP. Holy sh*t!!!

They sold 5 are their own words. Unless i've missed it, they have still not come up with any answers as to which foreign government they sold any rice.

I was talking about official exports. Forgetting their stockpiling, I just meant that they put more money (almost double) in than what it normally brings back. Not to mention that the 5 Billion is gross not net.

[Skywalker69]

If they don't stop this insanity, everyone in this country will eat rice daily for the rest of their lifes.

OK, Coat please.

No more "somtam"? I don´t have the heart/courage to tell wife.

[Skywalker69]

Thai rice farmers threaten protest if intervention price cut

Thai farmers vowed on Monday to stage a major protest after the government signalled it was weighing a plan to cut rice intervention prices by a tenth, in another sign that the state could be running short of funds for the scheme.

"And if we don't get an appropriate response, we will stage a protest and it would be a big one."

.

.

With threats of massive protests by Pheu Thai's "bread and butter" (the rice farmers), no change in the policy, or the pricing paid out, or the 18 Million Metric Tons of stored rice, is likely to occur.

It's Jerry McQuire's... "show me the rice"

or In Living Color's... "mo' rice, mo' rice"

http://www.youtube.com/results?search_query=in+living+color+mo+money&oq=in+living+color+mo+money&gs_l=youtube-reduced.3..0.136552.142490.0.142925.24.12.0.12.12.0.99.921.12.12.0...0.0...1ac.1.HD_B8jxhk20

.

PTP have opened the Pandoras Box. Shit.

[Robby nz]

Thai rice farmers threaten protest if intervention price cut

Thai farmers vowed on Monday to stage a major protest after the government signalled it was weighing a plan to cut rice intervention prices by a tenth, in another sign that the state could be running short of funds for the scheme.

"And if we don't get an appropriate response, we will stage a protest and it would be a big one."

.

.

With threats of massive protests by Pheu Thai's "bread and butter" (the rice farmers), no change in the policy, or the pricing paid out, or the 18 Million Metric Tons of stored rice, is likely to occur.

It's Jerry McQuire's... "show me the rice"

or In Living Color's... "mo' rice, mo' rice"

http://www.youtube.com/results?search_query=in+living+color+mo+money&oq=in+living+color+mo+money&gs_l=youtube-reduced.3..0.136552.142490.0.142925.24.12.0.12.12.0.99.921.12.12.0...0.0...1ac.1.HD_B8jxhk20

.

Given the predictable rice farmers threats which will very obviously be ongoing, not just a one off.

It will mean the Govt will never be able to reduce the subsidy or drop it all together.

It will also give an opposition party at the next election a big problem for they will not be able to put forward a sane policy in regards to rice that could go some way to getting the situation back on track without getting the rice farmers against them.

[OzMick]

I think it must be 32 billion baht not 320....

The whole crop per year isn't worth that much..

Well yes. Isn't that the obvious point.

[Robby nz]

Another thought:

If they do manage to sell some of it from the huge piles in warehouses that we see on Tele they are going to be taking it from the top of the piles and that of course will be the newer stuff, the last to be put in.

That will mean if they don't clean out the whole warehouse in one go then the older stuff at the bottom and in the middle will stay till it rots away

[OzMick]

That's the price you pay for propping up an industry that can't support it's farmers on a level playing field, however having said that, in emerging economic countries , farmers haven't the luxury of alternative work or obtaining Uni degree's, most of Thailand's farmers would be buggered if it wasn't for these handouts.

It's called an agrarian revolution, and can be quite painful. But Thailand is importing workers while having a huge work force engaged in inefficient and uneconomic work and subsidising them to stay in that industry. Those workers are uneducated, because the education funding is being wasted on vote-buying subsidies.

And the PTP answer is to borrow more to waste more.

[moe666]

O well the dollar will be back to 40baht if this scheme keeps up.

[Buchholz]

Thai rice farmers threaten protest if intervention price cut

Thai farmers vowed on Monday to stage a major protest after the government signalled it was weighing a plan to cut rice intervention prices by a tenth, in another sign that the state could be running short of funds for the scheme.

"And if we don't get an appropriate response, we will stage a protest and it would be a big one."

.

.

With threats of massive protests by Pheu Thai's "bread and butter" (the rice farmers), no change in the policy, or the pricing paid out, or the 18 Million Metric Tons of stored rice, is likely to occur.

.

as said... no change... keep the money flowing... and the mountains of stored rice growing...

Rice-pledging scheme holds firm

The government will have adequate funds to continue its rice-pledging scheme this year, with the guaranteed price remaining at Bt15,000 per tonne, the Commerce Ministry says.

Ministry Permanent Secretary Vatchari Vimooktayon said Monday that the government is expected to spend Bt297 billion on the scheme for this year's harvests.

"The government is confident that we will have sufficient funds to carry on the pledging scheme at the same price. The drought problem has caused lower-than-expected yields of rice in the upcoming season, so the spending on pledging will be lower than last year," Vatchari said.

-- The Nation 2013-03-04

[rubl]

Why oh why does the government need to borrow another THB 320 billion when they have received THB 180 billion from G2G deals, allegedly that is with details to be provided real soon now

[SOTIRIOS]

...hundreds of billions....left and right....but they will wear Thai fabric....so that's okay.....

[Moruya]

In 2012 the government collected 1.977 Trillion Baht.

In the same year they spent 2.184 Trillion Baht

Leaving them with a debt of 43.3% of GDP (11.363T)

So basically they are spending overe 22% of tax revenue on this fiasco and adding 4% GDP debt per annum

And what do they get to show dor it?

Millions of tonnes of decaying rice

Oh. And several significantly richer cronies

[jbrain]

Thai rice farmers threaten protest if intervention price cut

Thai farmers vowed on Monday to stage a major protest after the government signalled it was weighing a plan to cut rice intervention prices by a tenth, in another sign that the state could be running short of funds for the scheme.

"And if we don't get an appropriate response, we will stage a protest and it would be a big one."

.

.

With threats of massive protests by Pheu Thai's "bread and butter" (the rice farmers), no change in the policy, or the pricing paid out, or the 18 Million Metric Tons of stored rice, is likely to occur.

.

as said... no change... keep the money flowing... and the mountains of stored rice growing...

Rice-pledging scheme holds firm

The government will have adequate funds to continue its rice-pledging scheme this year, with the guaranteed price remaining at Bt15,000 per tonne, the Commerce Ministry says.

Ministry Permanent Secretary Vatchari Vimooktayon said Monday that the government is expected to spend Bt297 billion on the scheme for this year's harvests.

"The government is confident that we will have sufficient funds to carry on the pledging scheme at the same price. The drought problem has caused lower-than-expected yields of rice in the upcoming season, so the spending on pledging will be lower than last year," Vatchari said.

-- The Nation 2013-03-04

When those boys from the Nation gonna learn to spell.

It's SCAM not SCHEME.

[SICHONSTEVE]

Thailand must be rich. They can spend hundreds of billions on populism.

I come from a Western European country but we don't have so much money to play with.

Trouble is they are wasting money which they can ill afford (to) meaning that they will have to reduce other budgets or burden future generations with debt just like Europe and the US have done!!!

They must find a way to stop them with this stupid policy of theirs.

[Nickymaster]

Thai rice farmers threaten protest if intervention price cut

Thai farmers vowed on Monday to stage a major protest after the government signalled it was weighing a plan to cut rice intervention prices by a tenth, in another sign that the state could be running short of funds for the scheme.

"And if we don't get an appropriate response, we will stage a protest and it would be a big one."

.

.

With threats of massive protests by Pheu Thai's "bread and butter" (the rice farmers), no change in the policy, or the pricing paid out, or the 18 Million Metric Tons of stored rice, is likely to occur.

.

as said... no change... keep the money flowing... and the mountains of stored rice growing...

Rice-pledging scheme holds firm

The government will have adequate funds to continue its rice-pledging scheme this year, with the guaranteed price remaining at Bt15,000 per tonne, the Commerce Ministry says.

Ministry Permanent Secretary Vatchari Vimooktayon said Monday that the government is expected to spend Bt297 billion on the scheme for this year's harvests.

"The government is confident that we will have sufficient funds to carry on the pledging scheme at the same price. The drought problem has caused lower-than-expected yields of rice in the upcoming season, so the spending on pledging will be lower than last year," Vatchari said.

-- The Nation 2013-03-04

Pull the plug and let's see how popular PT/YS and TS really are.

I dare them.

[Pimay1]

Thai rice farmers threaten protest if intervention price cut

Thai farmers vowed on Monday to stage a major protest after the government signalled it was weighing a plan to cut rice intervention prices by a tenth, in another sign that the state could be running short of funds for the scheme.

"And if we don't get an appropriate response, we will stage a protest and it would be a big one."

.

.

With threats of massive protests by Pheu Thai's "bread and butter" (the rice farmers), no change in the policy, or the pricing paid out, or the 18 Million Metric Tons of stored rice, is likely to occur.

.

as said... no change... keep the money flowing... and the mountains of stored rice growing...

Rice-pledging scheme holds firm

The government will have adequate funds to continue its rice-pledging scheme this year, with the guaranteed price remaining at Bt15,000 per tonne, the Commerce Ministry says.

Ministry Permanent Secretary Vatchari Vimooktayon said Monday that the government is expected to spend Bt297 billion on the scheme for this year's harvests.

"The government is confident that we will have sufficient funds to carry on the pledging scheme at the same price. The drought problem has caused lower-than-expected yields of rice in the upcoming season, so the spending on pledging will be lower than last year," Vatchari said.

-- The Nation 2013-03-04

Pull the plug and let's see how popular PT/YS and TS really are.

I dare them.

It would be like Sherman's march to the sea.

[Stradavarius37]

The rice policy will be the downfall of PTP - mark it down.

[SICHONSTEVE]

The rice policy will be the downfall of PTP - mark it down.

Could well be - I hope you are right!!! It certainly seems to be creating tensions between the rice farmers and the government.

It was always odds on that their unaffordable populist policies were going to be their undoing.

If I cannot afford something I don't buy it, simple as that!!!

[Nickymaster]

The rice policy will be the downfall of PTP - mark it down.

It should be, nobody should get away with corruption like this.

Edited March 5, 2013 by Nickymaster

[Robby nz]

The rice policy will be the downfall of PTP - mark it down.

Might not be yet.

If they can keep it up till the next election then they can say they have kept their promise to the farmers and hope that is enough to get them back in.

Then it becomes the problem of the opposition to come up with something to trump them.

If they were to get enough support to get back in then they could do something about it or possibly it would be enough to get Thaksin back.

If not then it would be the problem of the new Govt, and what a problem to try to solve

[ballpoint]

The next step is the implemetation of a "rice tax" for every resident of Bangkok. This will subsidise the buying of the farmers' vote and teach those naughty Bangkok voters who they should elect next time.

[SICHONSTEVE]

The next step is the implemetation of a "rice tax" for every resident of Bangkok. This will subsidise the buying of the farmers' vote and teach those naughty Bangkok voters who they should elect next time.

But it would also penalise those 1 million Bangkokians who voted for Pheu Thai!!!

[EyesWideOpen]

Does anybody have any idea where these billions of baht are actually going??

I suspect the actual farmer is receiving only a tiny slice of the pie..

[SICHONSTEVE]

Does anybody have any idea where these billions of baht are actually going??

I suspect the actual farmer is receiving only a tiny slice of the pie..

Surely not!!! - you are not implying that there might be a little bit of corruption going on are you? That is outrageous!!

[Yo Sup]

How about focusing on moving jobs away from agriculture towards innovation and services? Improving education and encouraging entrepreneurship?

Don't be silly. How can the stinking rich stay stinking rich if there aren't any dirt poor?

Exactly!