8,000 tons of rice worth 100 million baht missing from Phichit warehouse

[Thai at Heart]

My maths must be bad! Correct me if I'm wrong but 8,000 @ 15,000/tonne is 120,000,000, therefore at that rate a 100,000,000 is a 17% loss on the pledging cost. Using that as a guide the pledging 'scheme' has lost 17% of its cost without taking into consideration, overheads, unsaleable product, and 'shrinkage'! Anyone like to work out the loss?

Was wondering when someone was going to do the math here. Yours is correct if it was just normal rice @ 15,000 bht/ton = 120,000,000 Bht.

So i'm guessing this has got to be another one o' them "little white lies."

Did you allow for processing yield? Or moisture that would probably have been deducted at purchase for being too high?

[BlackJack]

should be covered by the insurance

still doesnt make much of a dent in the 260 billion or is it more

[jbrain]

100 million, how many Rolls Rice that would buy ?

About 3.

Wrong one, but rice rolls millions!

Lol, finally one who got the pun.

[selftaopath]

Don't worry guys, it hasn't gone missing. It is just being "re-pledged" before the deadline!

Yes, it's not missing just moved to an "inactive" warehouse.

[Dap]

My maths must be bad! Correct me if I'm wrong but 8,000 @ 15,000/tonne is 120,000,000, therefore at that rate a 100,000,000 is a 17% loss on the pledging cost. Using that as a guide the pledging 'scheme' has lost 17% of its cost without taking into consideration, overheads, unsaleable product, and 'shrinkage'! Anyone like to work out the loss?

Was wondering when someone was going to do the math here. Yours is correct if it was just normal rice @ 15,000 bht/ton = 120,000,000 Bht.

So i'm guessing this has got to be another one o' them "little white lies."

Did you allow for processing yield? Or moisture that would probably have been deducted at purchase for being too high?

Nah, I have just come to the point where I automatically figure someone's lying

if it has anything to do with the rice pledging scheme

[SiggiCM]

Posted Today, 12:35

100 million, how many Rolls Rice that would buy ?

I guess 48 rolls because value was what i remember only 2.1 MIll Baht

Edited June 24, 2013 by SiggiCM

[SiggiCM]

the biggest Goverment Scamm ever, all Thailand lost it face for the 1000 th time, goverment for doing this, thai people for doing nothing, People deserve the goverment they voted for!!!

[movsrus]

Must be some real fat rats running around that warehouse

[mikemac]

My theories regarding the missing rice is -

a. Check Chalerm's garage, it would probably fit in there

b. It rotted away due to lack of spraying

c. Never existed in the first place

Either way Insp. Chalerm of Patpong Yard will have this sorted out by morning.

Expect the short rats, wearing cheap suits and carrying false paperwork for their Rollers to be given inactive posts.

[MaiChai]

Probably being resold back into the pledgling scheme...

[Tboy928]

100 million, how many Rolls Rice that would buy ?

whats the problem ? ,let the marked decide prices of rice and ship it out . Clearly it does not work as planned

Edited June 24, 2013 by Tboy928

[sjjmmi]

Land of scams

[slapout]

My maths must be bad! Correct me if I'm wrong but 8,000 @ 15,000/tonne is 120,000,000, therefore at that rate a 100,000,000 is a 17% loss on the pledging cost. Using that as a guide the pledging 'scheme' has lost 17% of its cost without taking into consideration, overheads, unsaleable product, and 'shrinkage'! Anyone like to work out the loss?

Was wondering when someone was going to do the math here. Yours is correct if it was just normal rice @ 15,000 bht/ton = 120,000,000 Bht.

So i'm guessing this has got to be another one o' them "little white lies."

Did you allow for processing yield? Or moisture that would probably have been deducted at purchase for being too high?

Milling loss would be 30 to 40% depending on type of milling equiptment, speed of feeding grain into system, setting, etc.I have never seen any clear guideline on how or what physicql weight is used to receive the 15,000 now 12,000 or the 20,000 payment/ton. Mositure dockage is more money in middle mans pocket as the government payment is made by tonnage weight.with mositure content specified to be under 15%.There is reported to be a 7 day grace to move grain from mill to storage. This entire programs had to have been written up/financed only for the monetary benifit of those involved in handling the grain, storing, transport, packing, fumingation, etc as well as those alloting the monies and those distributing same to the mentioned groups, which 'surprise, surprise' does not includ the rice farmer. Besides designing the system, the rats had it built on top of their burrows, and they are running, monitoring, guarding, distributing, and it appears consuming at each stage. The only item I have heard absolutly nothing about is insurance, who pays, to whom, cost, coverage,etc, but without fear of offending anyone, I would guess another family of rats are involved.

[Neilly]

I’m sure there is a perfectly logical and honest explanation as to why a large small portion of the rice is missing...like the scales need calibrating again

[Thai at Heart]

My maths must be bad! Correct me if I'm wrong but 8,000 @ 15,000/tonne is 120,000,000, therefore at that rate a 100,000,000 is a 17% loss on the pledging cost. Using that as a guide the pledging 'scheme' has lost 17% of its cost without taking into consideration, overheads, unsaleable product, and 'shrinkage'! Anyone like to work out the loss?

Was wondering when someone was going to do the math here. Yours is correct if it was just normal rice @ 15,000 bht/ton = 120,000,000 Bht.

So i'm guessing this has got to be another one o' them "little white lies."

Did you allow for processing yield? Or moisture that would probably have been deducted at purchase for being too high?

Milling loss would be 30 to 40% depending on type of milling equiptment, speed of feeding grain into system, setting, etc.I have never seen any clear guideline on how or what physicql weight is used to receive the 15,000 now 12,000 or the 20,000 payment/ton. Mositure dockage is more money in middle mans pocket as the government payment is made by tonnage weight.with mositure content specified to be under 15%.There is reported to be a 7 day grace to move grain from mill to storage. This entire programs had to have been written up/financed only for the monetary benifit of those involved in handling the grain, storing, transport, packing, fumingation, etc as well as those alloting the monies and those distributing same to the mentioned groups, which 'surprise, surprise' does not includ the rice farmer. Besides designing the system, the rats had it built on top of their burrows, and they are running, monitoring, guarding, distributing, and it appears consuming at each stage. The only item I have heard absolutly nothing about is insurance, who pays, to whom, cost, coverage,etc, but without fear of offending anyone, I would guess another family of rats are involved.

Over 15% they get docked at delivery. Straight after harvest it's 20 to 30%. This is where the dastardly middle man gets stuck in because the farmer can't be bothered to wait and drive his small amount to the mill himself.

Then the moisture metres are all fixed anyway.

[ricardofel]

hahahaha...gee I wonder where it could have gone?????? Certainly no corrupt greedy people could have taken it.....it never ends in Thailand, always something new and incredible to happen.

[Trembly]

Just imagine how much is missing and rotting in total I bet much more then is told to the public. Its too bad they did not go on with the rice program it would have blown the country up. Now it is clear why they wanted the loans for the infrastructure instead of when it was needed They need money to go on and cover this up.

Without those loans this will blow up and destroy the government, Moodies really fouled their plans. They had to act else the percentage on the loans might have been too high.

The woman who released the confidential report started the whole unraveling of this story.

Brave woman.

To be fair Ms Supa didn't know they were a government secret and she may enjoy her new post as in charge of the Office of the Permanent Secretary and the Fiscal Policy Office.

I think she'll be transferred to the Ministry of Inactive Posts.

[sharecropper]

Meanwhile, in a country not far away, Laos rice gets put into "Made in Thailand" sacks....

http://peteralanlloyd.com/back-part-2/more-border-lawlessness-thailands-rice-buying-scheme-in-laos/

[atyclb]

What a story, all we need now is a definitive comment from Chalerm of The Yard

His burning question may be "how many litres of distilled spirits could be made with that missing rice?"

[12DrinkMore]

100 million, how many Rolls Rice that would buy ?

That would depend greatly on whether they came in by parts or through Malaysia.

[ableguy]

Suspect the rice was never there as it would take about 1600 truck loads to move, remmember the lohnjon scandel ?

[jcb2001]

15k a ton? How many rai does it take to usually produce a ton per year?

My guess is 2 rai per ton of rice. Anybody confirm this?

[jbrain]

Suspect the rice was never there as it would take about 1600 truck loads to move, remmember the lohnjon scandel ?

Why would that be a problem? When the rice is sold legally, as intended, it also has to be moved out of the warehouse and will take as many trucks to do so

[Artisi]

Hands up. Who laughed reading the title of the topic, before opening the thread?

My initial thought was - " bugger me, can it be true " and then I remembered I was in Thailand.

[Theoutsider]

The MP has to eat first

They are probably riding around in a new merc. With tax paid.

[rbrooks]

"The missing rice is estimated to be worth well over 100 million baht. The governor then ordered an investigation into the matter, believing it involved corruption." Sounds like the Wolf tending the sheep got robbed

[Halion]

Theft and corruption can be found in many countries and cultures however Thailand ranks highest in the ignorance ,stupidty and bare faced lying that defies any and all semblance of credibility. It has reached the point where plausible denial is not even required.

This is the land of zero credibility in almost everything.

[GentlemanJim]

Meanwhile, in a country not far away, Laos rice gets put into "Made in Thailand" sacks....

http://peteralanlloyd.com/back-part-2/more-border-lawlessness-thailands-rice-buying-scheme-in-laos/

Thanks for posting the link. It seems to have been missed by everybody. Could one of the Journo's that peruse this site looking for inspiration and stories please pick up on the link above...Thank you!

[TomTao]

Somebodies creative accounting is about to be found out, I wonder who the scapegoat will be when it all falls apart, and how many empty penthouse apartments there are in Dubai?

[surangw]

right, the warehouse workers stole it one pocket full at a time.