Bt15,000 per tonne price for subsidised rice could be lowered

[culicine]

He said rice prices in the global market have dropped from the day when the government launched the rice pledging scheme

It is my underatnading that the government paid above the the market rate from the begining, this policy was doomed from the inception, no point blaming the global price of rice for a bad decision. Why can't the government just suck it up and admit they goofed, and that the decision to introduce the policy has had negative consequences on the economy?

It's an interesting quotation from the government. Of course their rice pledging scheme flooded the market with rice, hence the world price drops. Perhaps they will blame Vietnam or India for that lol

[dundee48]

^28 the doll:

The rice pleding started 2011-10-07. On 2012-09-24 we had "Thaksin said. If we were to push to sell to compete with India when they started dumping the rice at that time we probably end up with $400 per ton. Now its $602. We will be doing ok."

Now a graph on the rice price from October 2011 till now :-)

http://www.indexmundi.com/commodities/?commodity=rice&months=60

[kimamey]

As the Thaitanic settles lower in the water, somebody (the Purser?)suggests that shutting the sea-valves might be a good idea. Not all the way mind you, just a bit.

Meanwhile, the First Mate runs in circles shouting "Why wasn't I told?" the Second Mate is drunk again, the Chief Engineer is babbling about fitting more propellers, and the Captain is locked in his cabin with his Skype set to unavailable.

I don't think the Captain is in his cabin. I don't think he's even on board.

[Thai at Heart]

Um mm. So announce to the world that the coming fresh crops will be cheaper than the old. Oh great. Less chance of selling what's already in the warehouse.

[GentlemanJim]

OMG! How will the farmers ever manage without the subsidy?..........doh! I forgot, they don't get any of it anyway! Lower away!

That's what these naive rice farmer communities get for believing in populist policies, and they will again not learn from their mistakes and believe in those empty promises again and again and again...

... They get what they blindly wanted to and get ripped and stripped...

Perhaps those non-Thai's up North in Isaan will stop moaning and complaining when I refer to the Pheu Thai voters in the area as being naive, gullible and stupid now. as there is clear justification to do so.

I think I should be safe as I have an inkling that not too many will be 'tuned in' to this topic as it doesn't look so good on their equally stupid hero in foreign realms!!!!

Non-thais up north in isaan ? oh my! You better sleep with one eye open ...

I think he means expats, don't panic!

[laurits]

He said rice prices in the global market have dropped from the day when the government launched the rice pledging scheme

It is my underatnading that the government paid above the the market rate from the begining, this policy was doomed from the inception, no point blaming the global price of rice for a bad decision. Why can't the government just suck it up and admit they goofed, and that the decision to introduce the policy has had negative consequences on the economy?

It's an interesting quotation from the government. Of course their rice pledging scheme flooded the market with rice, hence the world price drops. Perhaps they will blame Vietnam or India for that lol

YES, because no Thai can be held responsible for anything, face, face, face, we ARE the best, at least we smile when we lie, and we are good at it!

[GentlemanJim]

I wonder if Moody's will now add on to the calculated 260 B loss the 20-30% that is about to be wiped off the face of 20 Million tons of rice in storage.

Thailand Hub of financial geniuses.

[hellodolly]

Um mm. So announce to the world that the coming fresh crops will be cheaper than the old. Oh great. Less chance of selling what's already in the warehouse.

How dare you use common sense do you not realize that is grounds for a defamation suit by the Government.

[Mampara]

So many critics, so many complaints, yet nobody has come up with a feasible idea. Surly if one complains then one should come up with a feasible idea? or is it all bark with no bite?

[Robby nz]

So many critics, so many complaints, yet nobody has come up with a feasible idea. Surly if one complains then one should come up with a feasible idea? or is it all bark with no bite?

Don't you think Mampara that it is the Governments and in particular the Minister's job to come up with the good ideas?

Then when they do I am sure you would see some favorable comments.

Until that happens those of us who are only in a position to comment and not to make decisions can only make these comments on what the Minister and Government actually says and does.

I think you will find that most of those who comment live in this country by choice and have watched this unfold over time.

These people including myself want to see this country prosper for the good of their families.

But unfortunately can see nothing but loss coming out of this scheme.

[apetley]

So many critics, so many complaints, yet nobody has come up with a feasible idea. Surly if one complains then one should come up with a feasible idea? or is it all bark with no bite?

Lots of people think market forces should decide the price of rice or that if the Govt really want to pay the rice farmers a subsidy then pay them directly as per the Democrat scheme.

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

[gabruce]

I wonder if Moody's will now add on to the calculated 260 B loss the 20-30% that is about to be wiped off the face of 20 Million tons of rice in storage.

Thailand Hub of financial geniuses.

The original article said there was a 260B loss so far and an estimated 400B loss taking into account the estimated deterioration of the rice in storage.

I think it's entirely possible that it will never be sold before it's completely useless for anything other than compost. Maybe they are trying for a 90% loss.

I remember the rice they did manage to sell to some country in africa, 20 or 30% had to be thrown away immediately and the rest put into storage while they tried to figure out what to do with it - the subtext was that it wasn't suitable for human consumption, the original purpose of the purchase.

Of course, if there is some worldwide rice disease and all of the rice plants in the world die - then the rice in storage will be worth a lot, no matter what condition it is in. That is a scheme worthy of a master villain! (Think bald man with a minature twin)

[OzMick]

So many critics, so many complaints, yet nobody has come up with a feasible idea. Surly if one complains then one should come up with a feasible idea? or is it all bark with no bite?

How about STOP THE IDIOCY.

Zero subsidies, sell the stocks for what you can get for it or burn it, and let the industry reform itself as those who can't succeed fail.

[Nowhereman60]

In the last few days I have seen a large number of rice farms harvesting their rice. Maybe they know to get the rice to the mills fast before the price goes down.

[Thai at Heart]

In the last few days I have seen a large number of rice farms harvesting their rice. Maybe they know to get the rice to the mills fast before the price goes down.

God knows where they are going to put it all, unless of course, as the TFDI claims, they have been pinching stuff out of the stock at below price.

[Bagwan]

The US and Europe mounted the sub prime market disaster. Thailand has it's Rice subsidy disaster. Join the club.