Rice-Pledging Scheme: How Much Have We Lost, Yingluck Asks

[iancnx]

Cambodia's press proudly reports a surge in exports of rice to Thailand. Go figure.

Do you have a link for this quite shocking revelation? Thanks.

[AleG]

Interesting the reaction from Yingluck and her cabinet of "we know nothin'!" yet a few months ago they claimed to have reviewed the rice scheme, found it satisfactory and decided to continue with it.

So either they did review the scheme, in which case they are lying now claiming that they have no idea of the actual status of the scheme, or they didn't review the scheme and simply rubber stamped it for an additional year.

This whole boondoggle, on it's own and isolated of all the other shenanigans of the government, ought to be enough to make them fall and slink away to obscurity (the damp darkness of a cell preferably).

I've quoted this several times already, it's worth hammering on the point though:

Expenditure of public money + No transparency + no accountability = corruption

It seems that most responders to this thread are doing their best to destroy Thailands credibility since they must know that what is written here is devoured by the currency marketers.

Shame on all of those guilty of joining the feeding frenzy of the foreign community that would attempt to keep Thailand's sovereign ratings low. In a sense you are Traitors because none of you know what you are talking about simply because the actual figures have not been published.

You are joking right?

He must be joking - must be some attempt at satire or something. Nobody could really mean that............ could they???

I, for one, measure the worthiness of the Thaksin/PTP/UDD band not by what their critics say and do, buy by what their supporters say and do. Yes, yes, it is dismal indeed.

[waza]

I think a leadership change might get them longer, but yes an early election for sure after the 2.2 trillion baht is secure.

They might pass it in parliament but they still have to find someone to put the money up.

They wont be able to get it from their own banks like they have for the rice mountain and the flood deal, the banks just don't have that sort of money.

Government bonds, that's what Yingluck is swanning around the world selling. But a Moodys downgrade means they will have to offer a higher interest rate.

Debt Restructuring Government Bond

Auction Amount (million baht) 24,000.00

Weighted Average Accepted Yield (%) 3.5203

http://www.bot.or.th/English/FinancialMarkets/DebtSecuritiesAuction/AuctionResult/Pages/AuctionResult_GovtBonds.aspx

Thailand's Government Bond Yield for 10 Year Notes rallied 27 basis points during the last 30 days which means it became more expensive for Thailand to borrow money from investors.

Waza do you know if the auction was completely taken up, fully subscribed? If yes, then surely the govt already has the funds? If no, what date is set for a new sale? I am really not clear about this funding; just want to understand better. Thanks

looks like all but 100,000,000 baht and this was just the April auction.

Edited June 6, 2013 by waza

[rubl]

As for the question on a 'surge' of Cambodian rice exports to Thailand, not sure it's a real surge, but more like
"Lim Bunheng, president and CEO of rice miller Loran Group, said he had seen increasing exports of milled rice from Cambodia to Thailand, mostly in a semi-final state. He said it is not polished or packaged but packed into bags that go to Thailand for the finishing process.

"Some Thai traders have increased their buying of Cambodia unpolished rice and do further processing in their country, said Lim Bunheng, "They might find our milled rice price more competitive because rice millers here can buy paddy at lower prices. "
http://cambodiariceexporters.org/en/news/rice-news/587/rice-exports-to-thailand-rise.html

[Robby nz]

Debt Restructuring Government Bond

Auction Amount (million baht) 24,000.00

Weighted Average Accepted Yield (%) 3.5203

http://www.bot.or.th..._GovtBonds.aspx

Thailand's Government Bond Yield for 10 Year Notes rallied 27 basis points during the last 30 days which means it became more expensive for Thailand to borrow money from investors.

This means then that the Thai Govt is having to pay over 3.5% interest on bonds it sell on the open market.

Are these the 'inflation adjusted' bonds that were talked about recently?

If they are then that will mean that over time the interest rate will in fact increase with inflation.

And this is just for Debt Restructuring.

Nothing then to do with the 2.2 trillion they want to borrow in the future.

How much will they have to pay for that?

[iancnx]

Debt Restructuring Government Bond

Auction Amount (million baht) 24,000.00 Weighted Average Accepted Yield (%) 3.5203 http://www.bot.or.th..._GovtBonds.aspx

Thailand's Government Bond Yield for 10 Year Notes rallied 27 basis points during the last 30 days which means it became more expensive for Thailand to borrow money from investors.

This means then that the Thai Govt is having to pay over 3.5% interest on bonds it sell on the open market.

Are these the 'inflation adjusted' bonds that were talked about recently?

If they are then that will mean that over time the interest rate will in fact increase with inflation.

And this is just for Debt Restructuring.

Nothing then to do with the 2.2 trillion they want to borrow in the future.

How much will they have to pay for that?

Ahhhh ok thanks Robby, that is clear now, this is just Debt restructure....... Not the 2.2 Tr. infrastructure funding.

Freckin El ...... Can things get any worse! Suggest any doubters write down these figures in black and white and fully understand the enormity of this hopeless situation..... Cue Moody's, Standard & Poor, Fitch........ Enter Abhisit Stage Left!