Warning On Rice Policy A Wake-Up Call For Thai Govt

[OzMick]

Any PM that admits that she/he has no idea of the hugely expensive costs of a policy in force for 2 years should resign on the spot. If ~10% of government expenditure is going to a policy why is there not monthly (if not weekly) accounting of income, expenditure and efficacy?

BANGKOK, Dec 19 – Thailand’s financial loss from its two-year rice pledging scheme should reach Bt247 billion (US$8.2 billion), or 1 to 1.3 per cent of gross domestic product (GDP), a World Bank economist said today.

http://www.mcot.net/site/content?id=50d19f5b150ba0bb3f000068#.UbF1t8X7srE

What relevance has that to my post? Did the PM say that she didn't know, but the World Bank is better informed?

[chiangmaikelly]

BS! Tax is paid by ALL the people of Thailand and belongs to ALL the people of Thailand. Wasting taxpayers money is a crime.

Prime Minister Yingluck Shinawatra took power in 2011 on a promise to pay farmers well above what was then the market rate for their rice, and the intervention has gone on even though it has priced Thai rice out of the international market.

http://www.irrawaddy.org/archives/28385

Maybe you know more than I but I don't think the farmers pay much income tax in Thailand. I think the majority of tax is paid by industry and commerce and not farming.

Strawman argument. EVERY Thai pays sales tax, and the amount any group pays is irrelevant. The tax collected belongs to ALL Thais.

Tell us about Thailand's sales tax?

[thaicbr]

 

 

Oh please! the myth of Robin Hood was that he stole from the rich to give to the poor. The rice scam is stealing from the people of Thailand, the overwhelming majority of whom are far from wealthy, and most of that stolen is ending up in the pockets of those far from poor.

 

BTW for a little historical accuracy, RH's actions were a protest against "evil" Prince John's taxes, levied to pay for "good" King Richard's (the Lionheart) crusades and his ransom when he was captured by an ally he had offended. Richard is regarded as one of the worst Kings that England ever suffered.

Yingluck is taking money from industrial/commercial taxpayers and giving it to rice farmers. 

Agreed.

BS! Tax is paid by ALL the people of Thailand and belongs to ALL the people of Thailand. Wasting taxpayers money is a crime.

Prime Minister Yingluck Shinawatra took power in 2011 on a promise to pay farmers well above what was then the market rate for their rice, and the intervention has gone on even though it has priced Thai rice out of the international market.

 

http://www.irrawaddy.org/archives/28385

 

Maybe you know more than I but I don't think the farmers pay much income tax in Thailand.  I think the majority of tax is paid by industry and commerce and not farming. 

A countries Tax income comes from a number of sources. Industry and commerce. V.A.T. income tax. Housing tax. Vehicle taxation etc. So in fact pretty much every one in Thailand is financing this signing bonus.

The PWO executive vice president said rice storage costs were about 300 million A MONTH. And they need another 2 billion baht to cover another years storage. They also have more than 17 million tonnes in stock and are looking for more private warehouses to store this years 2nd crop expected to be 7 million tonnes.

Bank of Agriculture. Which funds the scheme has only received 93.4billion back from the 500billion that has gone out.

And with ALL THIS the Commerce Minister Boonsong is still checking how much rice has been released and what money was made...

Sent from my i-mobile i-STYLE Q6

[OzMick]

BS! Tax is paid by ALL the people of Thailand and belongs to ALL the people of Thailand. Wasting taxpayers money is a crime.

Prime Minister Yingluck Shinawatra took power in 2011 on a promise to pay farmers well above what was then the market rate for their rice, and the intervention has gone on even though it has priced Thai rice out of the international market.

http://www.irrawaddy.org/archives/28385

Maybe you know more than I but I don't think the farmers pay much income tax in Thailand. I think the majority of tax is paid by industry and commerce and not farming.

Strawman argument. EVERY Thai pays sales tax, and the amount any group pays is irrelevant. The tax collected belongs to ALL Thais.

Tell us about Thailand's sales tax?

Do your own bloody homework.

[longway]

Any PM that admits that she/he has no idea of the hugely expensive costs of a policy in force for 2 years should resign on the spot. If ~10% of government expenditure is going to a policy why is there not monthly (if not weekly) accounting of income, expenditure and efficacy?

BANGKOK, Dec 19 – Thailand’s financial loss from its two-year rice pledging scheme should reach Bt247 billion (US$8.2 billion), or 1 to 1.3 per cent of gross domestic product (GDP), a World Bank economist said today.

http://www.mcot.net/site/content?id=50d19f5b150ba0bb3f000068#.UbF1t8X7srE

What relevance has that to my post? Did the PM say that she didn't know, but the World Bank is better informed?

Something off there. Thai gdp is about $350 billion and $8 billion of that is about 2.3%

[thaicbr]

Any PM that admits that she/he has no idea of the hugely expensive costs of a policy in force for 2 years should resign on the spot. If ~10% of government expenditure is going to a policy why is there not monthly (if not weekly) accounting of income, expenditure and efficacy?

BANGKOK, Dec 19 – Thailand’s financial loss from its two-year rice pledging scheme should reach Bt247 billion (US$8.2 billion), or 1 to 1.3 per cent of gross domestic product (GDP), a World Bank economist said today. 

http://www.mcot.net/site/content?id=50d19f5b150ba0bb3f000068#.UbF1t8X7srE

Gdp is not government expenditure.

The 2014 budget is 2.5 trillion. The 2013 budget was 2.4 trillion baht. The 2012 budget was 2.2 trillion baht. The 2011 budget was 1.9 billion.

Sent from my i-mobile i-STYLE Q6

[chiang mai]

Prime Minister Yingluck Shinawatra took power in 2011 on a promise to pay farmers well above what was then the market rate for their rice, and the intervention has gone on even though it has priced Thai rice out of the international market.

BS! Tax is paid by ALL the people of Thailand and belongs to ALL the people of Thailand. Wasting taxpayers money is a crime.

http://www.irrawaddy.org/archives/28385

Maybe you know more than I but I don't think the farmers pay much income tax in Thailand. I think the majority of tax is paid by industry and commerce and not farming.

Strawman argument. EVERY Thai pays sales tax, and the amount any group pays is irrelevant. The tax collected belongs to ALL Thais.

Tell us about Thailand's sales tax?

Do your own bloody homework.

Presumably we're talking about VAT, that being the case businesses with a turnover of under 1.8 mill baht a year are exempt, additionally many services such as education, medical care, prpoerty/land rental and transportation are also exempt. On that basis I would guess that the rural community isn't a huge payer of sales tax.

http://www.mazars.co.th/Home/News/Doing-Business-in-Thailand/Tax/Value-Added-Tax-VAT-in-Thailand

[apetley]

Oh please! the myth of Robin Hood was that he stole from the rich to give to the poor. The rice scam is stealing from the people of Thailand, the overwhelming majority of whom are far from wealthy, and most of that stolen is ending up in the pockets of those far from poor.

 

BTW for a little historical accuracy, RH's actions were a protest against "evil" Prince John's taxes, levied to pay for "good" King Richard's (the Lionheart) crusades and his ransom when he was captured by an ally he had offended. Richard is regarded as one of the worst Kings that England ever suffered.

Yingluck is taking money from industrial/commercial taxpayers and giving it to rice farmers. 

Did you read the news release from BoT only last Saturday that said year on year farmers incomes had gone down 7.7%?

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

[chiangmaikelly]

Prime Minister Yingluck Shinawatra took power in 2011 on a promise to pay farmers well above what was then the market rate for their rice, and the intervention has gone on even though it has priced Thai rice out of the international market.

http://www.irrawaddy.org/archives/28385

Maybe you know more than I but I don't think the farmers pay much income tax in Thailand. I think the majority of tax is paid by industry and commerce and not farming.

Strawman argument. EVERY Thai pays sales tax, and the amount any group pays is irrelevant. The tax collected belongs to ALL Thais.

Tell us about Thailand's sales tax?

Do your own bloody homework.

I just went to the market and bought all my food and supplies for the week and I didn't pay any sales tax! Oh my gosh!

[apetley]

Oh please! the myth of Robin Hood was that he stole from the rich to give to the poor. The rice scam is stealing from the people of Thailand, the overwhelming majority of whom are far from wealthy, and most of that stolen is ending up in the pockets of those far from poor.

 

BTW for a little historical accuracy, RH's actions were a protest against "evil" Prince John's taxes, levied to pay for "good" King Richard's (the Lionheart) crusades and his ransom when he was captured by an ally he had offended. Richard is regarded as one of the worst Kings that England ever suffered.

Yingluck is taking money from industrial/commercial taxpayers and giving it to rice farmers. 

Agreed.

Then they have failed even to do that as farmers earnings have dropped year on year.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

[thaicbr]

 

 

 

Prime Minister Yingluck Shinawatra took power in 2011 on a promise to pay farmers well above what was then the market rate for their rice, and the intervention has gone on even though it has priced Thai rice out of the international market.

 

BS! Tax is paid by ALL the people of Thailand and belongs to ALL the people of Thailand. Wasting taxpayers money is a crime.

 

http://www.irrawaddy.org/archives/28385

 

Maybe you know more than I but I don't think the farmers pay much income tax in Thailand.  I think the majority of tax is paid by industry and commerce and not farming. 

Strawman argument. EVERY Thai pays sales tax, and the amount any group pays is irrelevant. The tax collected belongs to ALL Thais.

Tell us about Thailand's sales tax?

Do your own bloody homework.

Presumably we're talking about VAT, that being the case businesses with a turnover of under 1.8 mill baht a year are exempt, additionally many services such as education, medical care, prpoerty/land rental and transportation are also exempt. On that basis I would guess that the rural community isn't a huge payer of sales tax.

 

http://www.mazars.co.th/Home/News/Doing-Business-in-Thailand/Tax/Value-Added-Tax-VAT-in-Thailand

Everything they buy from 7/11 etc is VAT taxed so pretty much every one does pay tax one way or another. And they did mute that VAT may have to go up soon to 8%... wonder why

Sent from my i-mobile i-STYLE Q6

[chiang mai]

Oh please! the myth of Robin Hood was that he stole from the rich to give to the poor. The rice scam is stealing from the people of Thailand, the overwhelming majority of whom are far from wealthy, and most of that stolen is ending up in the pockets of those far from poor.

BTW for a little historical accuracy, RH's actions were a protest against "evil" Prince John's taxes, levied to pay for "good" King Richard's (the Lionheart) crusades and his ransom when he was captured by an ally he had offended. Richard is regarded as one of the worst Kings that England ever suffered.

Yingluck is taking money from industrial/commercial taxpayers and giving it to rice farmers.

Agreed.

Then they have failed even to do that as farmers earnings have dropped year on year.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

I have no idea how long the Thaksin related governements have been subsidising the rural poor but clearly they have been doing so and to some considerable extent, two examples that come to mind are the diesel subsidy and the village loans program that almost forces cheap borrowing on rural folks. I am unclear as to why earnings have fallen YOY or indeed how they are even measured to any meanigful extent.

[chiangmaikelly]

Keep trying the strawman argument (do you know what that means?) It doesn't matter who pays the tax, or how much they pay, tax revenue belongs to the people of Thailand, and nobody would claim that they are "rich".

THB6,500 per Thai is being wasted, which is nearly a month's wages for most - nothing to get excited about.

Every country has problems and graft. If it is 1 to 3 percent of the GDP no one is going to complain. Beyond that people complain incuding Moodys which they are doing now. Is the Moodys threat a wake up call for the government? Yes I think so.

Edited June 7, 2013 by chiangmaikelly

[OzMick]

Keep trying the strawman argument (do you know what that means?) It doesn't matter who pays the tax, or how much they pay, tax revenue belongs to the people of Thailand, and nobody would claim that they are "rich".

THB6,500 per Thai is being wasted, which is nearly a month's wages for most - nothing to get excited about.

Every country has problems and graft. If it is 1 to 3 percent of the GDP no one is going to complain. Beyond that people complain incuding Moodys which they are doing now. Is the Moodys threat a wake up call for the government? Yes I think so.

This is the loss from one policy, and it has little to do with GDP except that you prefer it to make the percentages smaller.

Now that they have woken up, what do you expect to happen? Will the PM admit she has wasted huge amounts (and she has no idea how much) on a failed policy? should that admission of failure and incompetence not lead to a resignation?

Will they cancel the policy forthwith, and lose all those votes? Or continue to throw good money after lost?

[chiangmaikelly]

Keep trying the strawman argument (do you know what that means?) It doesn't matter who pays the tax, or how much they pay, tax revenue belongs to the people of Thailand, and nobody would claim that they are "rich".

THB6,500 per Thai is being wasted, which is nearly a month's wages for most - nothing to get excited about.

Every country has problems and graft. If it is 1 to 3 percent of the GDP no one is going to complain. Beyond that people complain incuding Moodys which they are doing now. Is the Moodys threat a wake up call for the government? Yes I think so.

This is the loss from one policy, and it has little to do with GDP except that you prefer it to make the percentages smaller.

Now that they have woken up, what do you expect to happen? Will the PM admit she has wasted huge amounts (and she has no idea how much) on a failed policy? should that admission of failure and incompetence not lead to a resignation?

Will they cancel the policy forthwith, and lose all those votes? Or continue to throw good money after lost?

Do I think the average Thai knows about it? Yes. Do I think the average Thai cares? No (they didn't get charged for it in an obvious way). Do I think it will topple the government? No. 40% of the population want Thaksin back and until he is brought back and defeated in an election there will be problems.

PS: Percent of GDP is the way things are measured by governments. People use percent of personal income. For example I spend 20% on housing and 10% on food.

Edited June 7, 2013 by chiangmaikelly

[chiang mai]

If you look at the pecentage of the popultion that has been lifted out of poverty since 2008, the numbers are impressive, from 28% in 2008 down to 17% in 2011, the current number could be as low as 12% I would guess. Given that many of those people will be rice farmers (I would imagine) it's difficult to imagine the rural poor be upset with the governement over this, Bangkokians certainly but the farming community (the much larger chunck of the population), really doubtful - which is why I would imagine the policy was adopted in the first place.

http://data.worldbank.org/indicator/SI.POV.RUHC

[longway]

Keep trying the strawman argument (do you know what that means?) It doesn't matter who pays the tax, or how much they pay, tax revenue belongs to the people of Thailand, and nobody would claim that they are "rich".

THB6,500 per Thai is being wasted, which is nearly a month's wages for most - nothing to get excited about.

Every country has problems and graft. If it is 1 to 3 percent of the GDP no one is going to complain. Beyond that people complain incuding Moodys which they are doing now. Is the Moodys threat a wake up call for the government? Yes I think so.

This is the loss from one policy, and it has little to do with GDP except that you prefer it to make the percentages smaller.

Now that they have woken up, what do you expect to happen? Will the PM admit she has wasted huge amounts (and she has no idea how much) on a failed policy? should that admission of failure and incompetence not lead to a resignation?

Will they cancel the policy forthwith, and lose all those votes? Or continue to throw good money after lost?

Do I think the average Thai knows about it? Yes. Do I think the average Thai cares? No (they didn't get charged for it in an obvious way). Do I think it will topple the government? No. 40% of the population want Thaksin back and until he is brought back and defeated in an election there will be problems.

PS: Percent of GDP is the way things are measured by governments. People use percent of personal income. For example I spend 20% on housing and 10% on food.

Links please.

[Robby nz]

If you look at the pecentage of the popultion that has been lifted out of poverty since 2008, the numbers are impressive, from 28% in 2008 down to 17% in 2011, the current number could be as low as 12% I would guess.

That was when the Dems were in power was it not?

Wonder where it has gone since?

Did not a previous link say farm incomes had dropped 7.7%?

[chiangmaikelly]

Every country has problems and graft. If it is 1 to 3 percent of the GDP no one is going to complain. Beyond that people complain incuding Moodys which they are doing now. Is the Moodys threat a wake up call for the government? Yes I think so.

This is the loss from one policy, and it has little to do with GDP except that you prefer it to make the percentages smaller.

Now that they have woken up, what do you expect to happen? Will the PM admit she has wasted huge amounts (and she has no idea how much) on a failed policy? should that admission of failure and incompetence not lead to a resignation?

Will they cancel the policy forthwith, and lose all those votes? Or continue to throw good money after lost?

Do I think the average Thai knows about it? Yes. Do I think the average Thai cares? No (they didn't get charged for it in an obvious way). Do I think it will topple the government? No. 40% of the population want Thaksin back and until he is brought back and defeated in an election there will be problems.

PS: Percent of GDP is the way things are measured by governments. People use percent of personal income. For example I spend 20% on housing and 10% on food.

Links please.

For what?

[longway]

Do I think the average Thai knows about it? Yes. Do I think the average Thai cares? No (they didn't get charged for it in an obvious way). Do I think it will topple the government? No. 40% of the population want Thaksin back and until he is brought back and defeated in an election there will be problems. PS: Percent of GDP is the way things are measured by governments. People use percent of personal income. For example I spend 20% on housing and 10% on food.

Links please.

For what?

For the basis of your beliefs in the first 2 lines and espcially on the percentage of the population who want thaksin back.

[gemini81]

Any PM that admits that she/he has no idea of the hugely expensive costs of a policy in force for 2 years should resign on the spot. If ~10% of government expenditure is going to a policy why is there not monthly (if not weekly) accounting of income, expenditure and efficacy?

BANGKOK, Dec 19 – Thailand’s financial loss from its two-year rice pledging scheme should reach Bt247 billion (US$8.2 billion), or 1 to 1.3 per cent of gross domestic product (GDP), a World Bank economist said today.

http://www.mcot.net/site/content?id=50d19f5b150ba0bb3f000068#.UbF1t8X7srE

As for tax; rice farmers are tax exempt. And those on a yearly income of under 150,000 baht for one's personal income are also tax exempt. This causes many problems...collecting tax in other ludicrous forms (300& or more oncars, luxury goods at crazy rates etc...)

I foresaw the flaws in this little wealth distribution plan during their campaign; it was but a means to get support/votes from the farmers. It was predictably gonna be an epic fail. It is. They only envisioned it on a micro level, and now look what has happened.

Edited June 7, 2013 by gemini81

[EyesWideOpen]

BANGKOK, Dec 19 – Thailand’s financial loss from its two-year rice pledging scheme should reach Bt247 billion (US$8.2 billion), or 1 to 1.3 per cent of gross domestic product (GDP), a World Bank economist said today.

http://www.mcot.net/...68#.UbF1t8X7srE

This is an absurd comparison, leading to the 1 to 1.3 percent number. Which sounds small. But that is in essence comparing gross to net. Tip off is the word GROSS domestic product. Meaning they are comparing the value of all products produced in Thailand, against the direct loss of the rice program.

If you took the GDP number and came up with a sort of averaged profit from that production, then compared that number to the rice loss, that would be more accurate. And far more stunning to the downside....

[chiangmaikelly]

BANGKOK, Dec 19 – Thailand’s financial loss from its two-year rice pledging scheme should reach Bt247 billion (US$8.2 billion), or 1 to 1.3 per cent of gross domestic product (GDP), a World Bank economist said today.

http://www.mcot.net/...68#.UbF1t8X7srE

This is an absurd comparison, leading to the 1 to 1.3 percent number. Which sounds small. But that is in essence comparing gross to net. Tip off is the word GROSS domestic product. Meaning they are comparing the value of all products produced in Thailand, against the direct loss of the rice program.

If you took the GDP number and came up with a sort of averaged profit from that production, then compared that number to the rice loss, that would be more accurate. And far more stunning to the downside....

All government programs are measured in percent of GDP. It is SOP for any economy. Any news story. Any money story. It's basic economics.

[waza]

Just reading through some of the articles in world newspapers about the mountains of rotting rice, and I simply do not know how the Thai rice industry is going to recover. It has been set back at least ten years. Who on earth would want to risk buying the stuff. If I were shopping for rice in the supermarket back in the UK now the choice between a bag of Thai Jasmine (normal choice) and Indian rice would be easy. I wouldn't buy Thai rice again for years.

For some reason the penny never clicked until a few days ago that one of the guys heavily involved in running this scam is the one facing terrorist charges and the one who called for the burning of Bangkok, Nattawut himself.

Thailand’s total rice exports in the first quarter (Q1) of 2013 (January – March) 796,304 tons.

In terms of value, total rice exports earned Thailand about 33.36 billion baht.

Average export prices of white rice in Q1 2013 stood at around $573 per ton, up around 1.5% from around $565 per ton in Q1 2012. Average prices of Pathumthani rice increased to around $989 per ton in Q1 2013, up around 8% from around $916 per ton in the same period last year, while average Hommali rice export prices in Q1 2013 stood at around $1,042 per ton, up around 10% from around $944 per ton recorded in the first quarter of 2012.

Ok so whats your point?

[chiangmaikelly]

Just reading through some of the articles in world newspapers about the mountains of rotting rice, and I simply do not know how the Thai rice industry is going to recover. It has been set back at least ten years. Who on earth would want to risk buying the stuff. If I were shopping for rice in the supermarket back in the UK now the choice between a bag of Thai Jasmine (normal choice) and Indian rice would be easy. I wouldn't buy Thai rice again for years.

For some reason the penny never clicked until a few days ago that one of the guys heavily involved in running this scam is the one facing terrorist charges and the one who called for the burning of Bangkok, Nattawut himself.

Thailand’s total rice exports in the first quarter (Q1) of 2013 (January – March) 796,304 tons.

In terms of value, total rice exports earned Thailand about 33.36 billion baht.

Average export prices of white rice in Q1 2013 stood at around $573 per ton, up around 1.5% from around $565 per ton in Q1 2012. Average prices of Pathumthani rice increased to around $989 per ton in Q1 2013, up around 8% from around $916 per ton in the same period last year, while average Hommali rice export prices in Q1 2013 stood at around $1,042 per ton, up around 10% from around $944 per ton recorded in the first quarter of 2012.

Ok so whats your point?

GJ wrote, "Just reading through some of the articles in world newspapers about the mountains of rotting rice, and I simply do not know how the Thai rice industry is going to recover. Who on earth would want to risk buying the stuff."

Millions of Thai rice is being bought and sold every day. The price of one kind of rice is up another is down. Nothing is changed. The market is a bit down. The above poster is talking about the sky falling and it's not. There are no mountains of rotting rice.

[waza]

Just reading through some of the articles in world newspapers about the mountains of rotting rice, and I simply do not know how the Thai rice industry is going to recover. It has been set back at least ten years. Who on earth would want to risk buying the stuff. If I were shopping for rice in the supermarket back in the UK now the choice between a bag of Thai Jasmine (normal choice) and Indian rice would be easy. I wouldn't buy Thai rice again for years.

For some reason the penny never clicked until a few days ago that one of the guys heavily involved in running this scam is the one facing terrorist charges and the one who called for the burning of Bangkok, Nattawut himself.

Thailand’s total rice exports in the first quarter (Q1) of 2013 (January – March) 796,304 tons.

In terms of value, total rice exports earned Thailand about 33.36 billion baht.

Average export prices of white rice in Q1 2013 stood at around $573 per ton, up around 1.5% from around $565 per ton in Q1 2012. Average prices of Pathumthani rice increased to around $989 per ton in Q1 2013, up around 8% from around $916 per ton in the same period last year, while average Hommali rice export prices in Q1 2013 stood at around $1,042 per ton, up around 10% from around $944 per ton recorded in the first quarter of 2012.

Ok so whats your point?

GJ wrote, "Just reading through some of the articles in world newspapers about the mountains of rotting rice, and I simply do not know how the Thai rice industry is going to recover. Who on earth would want to risk buying the stuff."

Millions of Thai rice is being bought and sold every day. The price of one kind of rice is up another is down. Nothing is changed. The market is a bit down. The above poster is talking about the sky falling and it's not. There are no mountains of rotting rice.

Yes there is mountains of rotting rice.....

A trial donation last last month of 40 tonnes as humanitarian aid to poor villagers in Phitsanulok province, which a commerce ministry official said would be followed by a few millions of tonnes more, drew complaints it had been stored too long.

"I don't know why the government gave it to us as no one can eat this rice," said Chaew Malila, 60, in Beung Phra district in Phitsanulok, almost 400 km north of Bangkok. http://www.trust.org/item/20130513133928-qs0rf

On April 15 the Ivory Coast’s Commerce Ministry said it had bought “various qualities” of Thai rice at “competitive and stable” prices. Four months after the 38,500 tons arrived, however, the Ivorian government has had to trash 7,600 tons because of quality problems, according to an official at the Commerce Ministry. Eighty percent of the rice still sits in warehouses. http://www.businessweek.com/articles/2013-04-18/thailands-farmer-friendly-rice-subsidy-backfires

But the program-which in all earnestness began in a bid to improve the earning power of the poor Thai rice farmer-somewhere along the line morphed into a widely criticised policy that has resulted in warehouses filled with rotting rice that the Thai government is unable to sell off as its product has become largely unaffordable in the global market. http://www.brecorder.com/br-research/44:miscellaneous/3169:thai-rice-pledging-time-to-wake-up-and-smell-the-coffee/

However, the most distressing thing is the Thaksin/ Yingluck government is loosing .5 trillion baht per years of government funds. Now what percent of GDP is that?

Edited June 7, 2013 by waza

[chiangmaikelly]

Yes there is mountains of rotting rice.....

No there are not mountains of rotting rice.....

Edited June 7, 2013 by chiangmaikelly

[longway]

Just reading through some of the articles in world newspapers about the mountains of rotting rice, and I simply do not know how the Thai rice industry is going to recover. It has been set back at least ten years. Who on earth would want to risk buying the stuff. If I were shopping for rice in the supermarket back in the UK now the choice between a bag of Thai Jasmine (normal choice) and Indian rice would be easy. I wouldn't buy Thai rice again for years.

For some reason the penny never clicked until a few days ago that one of the guys heavily involved in running this scam is the one facing terrorist charges and the one who called for the burning of Bangkok, Nattawut himself.

Thailand’s total rice exports in the first quarter (Q1) of 2013 (January – March) 796,304 tons.

In terms of value, total rice exports earned Thailand about 33.36 billion baht.

Average export prices of white rice in Q1 2013 stood at around $573 per ton, up around 1.5% from around $565 per ton in Q1 2012. Average prices of Pathumthani rice increased to around $989 per ton in Q1 2013, up around 8% from around $916 per ton in the same period last year, while average Hommali rice export prices in Q1 2013 stood at around $1,042 per ton, up around 10% from around $944 per ton recorded in the first quarter of 2012.

Ok so whats your point?

GJ wrote, "Just reading through some of the articles in world newspapers about the mountains of rotting rice, and I simply do not know how the Thai rice industry is going to recover. Who on earth would want to risk buying the stuff."

Millions of Thai rice is being bought and sold every day. The price of one kind of rice is up another is down. Nothing is changed. The market is a bit down. The above poster is talking about the sky falling and it's not. There are no mountains of rotting rice.

17 million tonnes in PWO and a further 6 million tonnes in private warehousing. How do you know they are not rotting? Link please. Millions of tonnes bought and sold every day? Link please.

I supoose 23 million tonnes of rice is not a mountain, but its 6 times the weight of the great pyramid of Giza.

[GentlemanJim]

Just reading through some of the articles in world newspapers about the mountains of rotting rice, and I simply do not know how the Thai rice industry is going to recover. It has been set back at least ten years. Who on earth would want to risk buying the stuff. If I were shopping for rice in the supermarket back in the UK now the choice between a bag of Thai Jasmine (normal choice) and Indian rice would be easy. I wouldn't buy Thai rice again for years.

For some reason the penny never clicked until a few days ago that one of the guys heavily involved in running this scam is the one facing terrorist charges and the one who called for the burning of Bangkok, Nattawut himself.

Thailand’s total rice exports in the first quarter (Q1) of 2013 (January – March) 796,304 tons.

In terms of value, total rice exports earned Thailand about 33.36 billion baht.

Average export prices of white rice in Q1 2013 stood at around $573 per ton, up around 1.5% from around $565 per ton in Q1 2012. Average prices of Pathumthani rice increased to around $989 per ton in Q1 2013, up around 8% from around $916 per ton in the same period last year, while average Hommali rice export prices in Q1 2013 stood at around $1,042 per ton, up around 10% from around $944 per ton recorded in the first quarter of 2012.

Ok so whats your point?

GJ wrote, "Just reading through some of the articles in world newspapers about the mountains of rotting rice, and I simply do not know how the Thai rice industry is going to recover. Who on earth would want to risk buying the stuff."

Millions of Thai rice is being bought and sold every day. The price of one kind of rice is up another is down. Nothing is changed. The market is a bit down. The above poster is talking about the sky falling and it's not. There are no mountains of rotting rice.

18 Million tons of rice in storage and 796 304 tons sold in the first quarter. That leaves 17 203 696 Tons. Now if i were to dump that in your Garden you would think it was a frakking mountain.

What millions of Thai rice is being bought and sold everyday? Millions of tons or millions of baht? When you are talking of 600 Billion baht worth, millions a day is not good enough.

I see the Chiang Mai twins are out in mutual support of each other, and they are raising everybody's blood pressure by hijacking the thread with pedantic interpretations of everyones comments. Leave them alone and they may go away, it's Friday.

[chiangmaikelly]

Thailand’s total rice exports in the first quarter (Q1) of 2013 (January – March) 796,304 tons.

In terms of value, total rice exports earned Thailand about 33.36 billion baht.

Average export prices of white rice in Q1 2013 stood at around $573 per ton, up around 1.5% from around $565 per ton in Q1 2012. Average prices of Pathumthani rice increased to around $989 per ton in Q1 2013, up around 8% from around $916 per ton in the same period last year, while average Hommali rice export prices in Q1 2013 stood at around $1,042 per ton, up around 10% from around $944 per ton recorded in the first quarter of 2012.

Ok so whats your point?

GJ wrote, "Just reading through some of the articles in world newspapers about the mountains of rotting rice, and I simply do not know how the Thai rice industry is going to recover. Who on earth would want to risk buying the stuff."

Millions of Thai rice is being bought and sold every day. The price of one kind of rice is up another is down. Nothing is changed. The market is a bit down. The above poster is talking about the sky falling and it's not. There are no mountains of rotting rice.

18 Million tons of rice in storage and 796 304 tons sold in the first quarter. That leaves 17 203 696 Tons. Now if i were to dump that in your Garden you would think it was a frakking mountain.

No one has suggested dumping rice in a garden. Do you really think your post is adult? Rice is stored in a rice warehouse or silo.