Thailand's D S I Says Previous Democrat Govt's Rice Sale Fishy

[webfact]

DSI says Democrat government's rice sale fishy
The Nation



BANGKOK: -- The Department of Special Investigation (DSI) has concluded that there was an irregularity regarding the previous government's decision to sell 3.4 million tons of rice from the state-held stock to only nine rice exporters.

DSI director-general Tarit Pengdith told a press conference on Wednesday that the agency's investigation discovered that the rice sale benefited the nine exporters, as no bidding was called to get the best prices possible for the government's rice. He said it was found that then deputy prime minister Trairong Suwankhiri, who was in charge of the National Rice Policy Committee, ordered the sale.

The DSI would next week submit its findings to the National Anti-Corruption Commission, in addition to the information it had provided to the anti-graft agency, according to Tarit.

A senior DSI official, Prawut Wongsinil said that Trairong had told the DSI that no bidding was called in order to prevent possible decline of prices due to the sale of such a large amount of rice.

Trairong, a senior figure in the opposition Democrat Party, said on Wednesday that he suspected the DSI moves against him was politically motivated. He said that the Democrats have evidence to prove that bidding did take place and that there was no fixing of the bidding.

"All the processes were in accordance with the law and the prices were correct," Trairong said.

"The DSI seems to deal with this case in a way that will bring negative impacts to the opposition party," he said, adding that he would rather wait for results of the investigation by the NACC, which has the authority in probing this case.


-- The Nation 2013-03-28

[Ricardo]

This would be positive, were it not coming from the DSI, who these days seem to be slightly biased in who they direct their attention towards.

Perhaps they might dispel any appearance of bias, by also looking into sales since July-2011, if they find any genuine ones ?

[chainarong]

Lets Just concentrate on the latest rice scam, don't worry about yesterday , you can always go back to that after your masters have turned this place into a totalitarian state,Plenty of time then Mr DSI.

[fareastguy]

Pot calling the kettle black... me thinks !!

Talk about diverting the attention away from the "Trillion Baht Scam"

[pedro01]

Tarit is going to have a mighty fall one day. Possibly ending up behind bars himself for his current behaviour, if not worse.

If you are selling 3,4 Million tonnes of rice, it does make sense not to go to the open market and announce that fact. Selling in such volume at one time would ensure you get paid less for the product.

[taff33]

Hands up who thinks it's Mr 'T's' fault.

[waza]

"The DSI seems to deal with this case in a way that will bring negative impacts to the opposition party," he said, adding that he would rather wait for results of the investigation by the NACC, which has the authority in probing this case.

This and other ridicules charges against the opposition prove that the DSI is the lap dog of a convicted criminal.

[Thai at Heart]

Well that maybe better than the current rice deals smelling mouldy

[backtonormal]

villiansofthepiece pick any 9 from 13 to find the benefactors of major Democrat corruption

Edited March 28, 2013 by backtonormal

[waza]

villiansofthepiece pick any 9 from 13 to find the benefactors of major Democrat corruption

They paid market price for stored rice, it was a commercial transaction that made the Government money as well as saving the storage costs. A win, win for the people of Thailand. Wheres the corruption here?

Thaksins deal, they pay 20% above market price, then store it at cost, then cant afford to sell it, a loose, loose situation if ever I saw one. Wheres the benefit to the Thai people here?

Edited March 28, 2013 by waza

[Ricardo]

The system of selling rice-for-export to certain long-established well-connected trading-firms, who have established overseas-customers and relationships built-up over many years, isn't by-any-means perfect. Wonder what barriers-to-entry there might be, for new traders looking to buy, for example ? Could be fatal !

But at least with nine different exporters (in this particular case) trying to gain access to the stocks, there might be a limited degree of competition, which has to be slightly better than none at all, when rice-stocks are not released because that would mean crystallising the built-in government-losses.

The current situation is also less attractive since the growing Thai rice-stocks are failing to be moved, and those long-term customers are finding other non-Thai long-term sources-of-supply, and it still hasn't had the promised-effect of driving-up world-market prices to anywhere close to the pledging-price.

But hey, it's only public-money, and there's always plenty more of that (Is this still correct ? - Editor) available to be borrowed ! Or stuff the losses to the BoT, once again, why ever not ?

Perhaps the DSI might also turn their attention to who might be making money by trading in global rice-futures, including players offshore, and what sources of insider-information on Thai-policies & tactics they might be using ? Or would the answers be embarrassing ?

There is the wider question of whether the government should be involved in this at all, trying to rig global-prices for years at-a-time, or whether the exporters should be buying all their stocks direct from the mills, without the government trying to act as intermediary ? A back-up government-authority, setting a reasonable base-price as buyer-of-last-resort, might add limited-stability to cushion the real-world effects on growers of changing world-prices.

And the government would also need to consult better with other rice-growing countries, to try to encourage more-stable prices, as well.

But neither of these would deliver on the impossible-but-welcome vote-winning pre-election-promise of an insanely-high fixed-pleding-price, regardless of changes in world demand/prices, to which PTP & the Big Boss are currently fully-committed, whatever the cost to the country and the industry.

[jonclark]

Everyone claims Yingluck is the puppet, but it's fairly clear who the real puppet is...

[Pib]

...the previous government's decision to sell 3.4 million tons of rice from the state-held stock to only nine rice exporters

.

But at least rice was being sold/exported under the previous govt's rice scheme; current govt's rice scheme is just resulting in rice rotting in warehouses vs rice sales/exports since the price is so high.

[virtualtraveller]

Who pays this muppet. Does anyone actually take anything he says seriously these days. Funny how every time he opens his mouth it's to discredit the Democrat govt f the past, interesting this, because he's now obliged to also look into complaints of the current rice scheme, and boy will he have his work cut out for himself. Tarit will go down in history as perhaps the biggest clown of the biggest charade era of Thai politics.

[animatic]

Just more of the witch hunt.

Simply consider the source of this revelation.

[slapout]

Well that maybe better than the current rice deals smelling mouldy

The latest seems to be, one of the warehouses with stored rice caught fire and burned for several hours before it was brought under control. Of course the contents was fragrent rice at the 20,000 baht/ton price tag.

Those storage facilities filled with rice are real fire hazards, especially if anyone is slated for inventory.

[ballpoint]

There's definitely something fishy about selling rice at the market price. Everyone should know by now that the way to handle rice is to store as much as you can, then try and store some more, slip some back to cronies, re buy it, store it some more, burn some of it off to make more room, buy some more, store it, and hope the global fungus, mould and associated sludge market booms before selling it off. Possibly to a biological weapons manufacturer.

[Thai at Heart]

The system of selling rice-for-export to certain long-established well-connected trading-firms, who have established overseas-customers and relationships built-up over many years, isn't by-any-means perfect. Wonder what barriers-to-entry there might be, for new traders looking to buy, for example ? Could be fatal !

But at least with nine different exporters (in this particular case) trying to gain access to the stocks, there might be a limited degree of competition, which has to be slightly better than none at all, when rice-stocks are not released because that would mean crystallising the built-in government-losses.

The current situation is also less attractive since the growing Thai rice-stocks are failing to be moved, and those long-term customers are finding other non-Thai long-term sources-of-supply, and it still hasn't had the promised-effect of driving-up world-market prices to anywhere close to the pledging-price.

But hey, it's only public-money, and there's always plenty more of that (Is this still correct ? - Editor) available to be borrowed ! Or stuff the losses to the BoT, once again, why ever not ?

Perhaps the DSI might also turn their attention to who might be making money by trading in global rice-futures, including players offshore, and what sources of insider-information on Thai-policies & tactics they might be using ? Or would the answers be embarrassing ?

There is the wider question of whether the government should be involved in this at all, trying to rig global-prices for years at-a-time, or whether the exporters should be buying all their stocks direct from the mills, without the government trying to act as intermediary ? A back-up government-authority, setting a reasonable base-price as buyer-of-last-resort, might add limited-stability to cushion the real-world effects on growers of changing world-prices.

And the government would also need to consult better with other rice-growing countries, to try to encourage more-stable prices, as well.

But neither of these would deliver on the impossible-but-welcome vote-winning pre-election-promise of an insanely-high fixed-pleding-price, regardless of changes in world demand/prices, to which PTP & the Big Boss are currently fully-committed, whatever the cost to the country and the industry.

I think you will find that rice export licenses are very highly prized protected assets. My old employer had one, even though they had nothing to do with rice whatsoever.

[NeverSure]

I'm certain that everything was open and above board. There is no corruption in Thailand.

I just hope that the bribe money was put in a bank in Cyprus.

[Nickymaster]

No shame. Must have learned that from the Shins.

[NongKhaiKid]

Pot calling the kettle black... me thinks !!

Talk about diverting the attention away from the "Trillion Baht Scam"

It's " Yah Boo Sucks to you, our rice scheme is corrupt but your one was worse and our tame DSI will sort you out ! "

[rametindallas]

Everyone claims Yingluck is the puppet, but it's fairly clear who the real puppet is...

Yeah! Anyone in the Puea Thai Party.

[borisloosebrain]

This man ought to relocate his office to a more appropriate location....somewhere in Silom or lower Sukhumvit or perhaps Petchaburi....it's pretty clear what his job title should be too

[EyesWideOpen]

This is like looking for rabbits to hunt far afield, when a 12 point buck is standing in your back yard.... lol

[bigbamboo]

Wouldn't surprise me at all if the Dems deal was fishy, just like current rice fiasco. You can't trust any Thai politician, including Tart.

[Stradavarius37]

It Tarit's lips were any more firmly planted up Thaksin's backside, we'd have to remove them surgically. What a transparent clown.

[Pimay1]

It Tarit's lips were any more firmly planted up Thaksin's backside, we'd have to remove them surgically. What a transparent clown.

As we say back in Kentucky, if Thaksin made an unexpected turn it would break Tarit's neck.

[monkeycountry]

Imagine you come into a bank. Some guys with masks are openly emptying the volt for cash (the PTP). One of the customers are trying to steal a wristwatch from one of the other customers (the DP). Next the DSI comes in, sees what is going on and decided to forget the guys robbing the bank, and instead jump the guy trying to steal the wristwatch :-)

[ZhouZhou]

good news.

and then there are some who say there is no investigation in corruption in Thailand.

[Locationthailand]

Pot calling the kettle black... me thinks !!

Talk about diverting the attention away from the "Trillion Baht Scam"

Precisely and precisely. Tarit is red and acting under instruction IMO and what better time to inflame than with a BS press release to divert issues from this pathetic excuse of a govt who wish to put Thailand in debt on a 100 year loan.