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

[Bagwan]

Would the Moodies employee ordered to monitor this board please identify themself?

[rubl]

Peanuts. What's 100 million on a (reported) loss of 136.904 billion over 2011/2012 only? Or on 156 billion left in the mountain?

Answer: loss of 137.954 and 155.050 in the mountain of 2011/2012
NOTE: under assumption that 4,000 tonnes from 2011/2012 hav the same value as 4,000 tonnes from 2012/2013.
NOTE2: type of rice not reported in topic

PS as someone mentioned 8,000 tonnes is 400 20-tons trucks which form a 4,000 meter long queue. Surely with all that rice the government has been selling no-one would have noticed such queue?

[moe666]

It went to a secret cabinet meeting in Hong Kong o forgot maybe they used it at the wedding.

[DekDaeng]

Fair chance it is in another warehouse.

Or another

Or another

Or .......

Just depends how many times it has been sold.

[Thai at Heart]

Peanuts. What's 100 million on a (reported) loss of 136.904 billion over 2011/2012 only? Or on 156 billion left in the mountain?

Answer: loss of 137.954 and 155.050 in the mountain of 2011/2012

NOTE: under assumption that 4,000 tonnes from 2011/2012 hav the same value as 4,000 tonnes from 2012/2013.

NOTE2: type of rice not reported in topic

PS as someone mentioned 8,000 tonnes is 400 20-tons trucks which form a 4,000 meter long queue. Surely with all that rice the government has been selling no-one would have noticed such queue?

But this is a few warehouses in one locality. There are hundreds of warehouses full of rice.

They estimate 4000. Could be 5000, could be 10.

Nationwide, at least 5% I wager is missing.

[Secondmouse]

"Now, where did I put that rice....?.."

Edited June 25, 2013 by metisdead
Bold font removed.

[hellodolly]

I wonder if this 100 million baht should be added to the other 136 Bn baht?

Probably best to wait a while.

After all they only looked at 1 of 34 warehouses.

[Secondmouse]

Addressing the media on the subject government spokesman Mr. Max Bygraves said " I wanna tell you a story ".

Apologies to TV users under a certain age who may not get this, please indulge an old, sorry mature, man.

and his colleague, Mr. Tommy Cooper said "It was gone...jus' like that..."

Edited June 25, 2013 by metisdead
Font

[EyesWideOpen]

I burst out laughing when I saw this headline. I had just posted a few days ago that I felt that a lot of the rice never existed, this was just a paperwork scam. Such a massive amount " missing" proves that.

[vijer]

There was an article in the paper where the miller/packer is already claiming they didn't take it.

Can you sweep 8000 tons of rice under a rug?

I'm sure its just been misplaced, it will show up once they clean out the warehouse. It happens to me all the time, I say "Where did I leave my pud?", and then a few days later it shows up.

You have to appreciate the cajones on these people, hey we have 18 million tons of surplus rice who's going to miss a little 8k?

Edited June 24, 2013 by vijer

[Mosha]

So that's one storage facility, just about another 1499 to go.

I presume the Governors from each province will be publishing a list of every facility they visited and what the results were..........no!.......oops silly me.

Actually, I think this guy might just produce a stampede. Making sure "The buck doesn't stop here"

[bikerider21]

Imagine a few years down the roads after the government's big borrowing scheme. Billions will be unaccounted for.

[GeorgeO]

I wonder if this 100 million baht should be added to the other 136 Bn baht?

No, this is just the first attempt at chipping away at the overall sum. There will no doubt be hundreds of similar findings of missing stocks of rice, ultimately reducing the "legitimate" cash losses to a mere THB 50 billion...!!!

But I just feel that I need to ask, how the (f###) does 8,000 tons of anything simply go missing...?!

I prefer the explanation already suggested here, that it was never there in the first place ... so this is simply an issue of creative accounting!

[Thai at Heart]

I wonder if this 100 million baht should be added to the other 136 Bn baht?

No, this is just the first attempt at chipping away at the overall sum. There will no doubt be hundreds of similar findings of missing stocks of rice, ultimately reducing the "legitimate" cash losses to a mere THB 50 billion...!!!

But I just feel that I need to ask, how the (f###) does 8,000 tons of anything simply go missing...?!

I prefer the explanation already suggested here, that it was never there in the first place ... so this is simply an issue of creative accounting!

The easiest way for it to go missing is for it never to be there in the first place.

[Ricardo]

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.

"something new"

Sadly this particular scam, the 'disappearing-rice stock', is actually a Golden-Oldie, from the TRT-era if not before, and not at all new.

You don't need to teach an old dog the old tricks !

I wonder whether the government will try to reclaim the B800/ton/month storage-fees, which it's been paying out, in respect of this invisible rice ?

[Thai at Heart]

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.

"something new"

Sadly this particular scam, the 'disappearing-rice stock', is actually a Golden-Oldie, from the TRT-era if not before, and not at all new.

You don't need to teach an old dog the old tricks !

I wonder whether the government will try to reclaim the B800/ton/month storage-fees, which it's been paying out, in respect of this invisible rice ?

I have heard this 800 baht a month for storage per tonne before. Seems absolutely extortionately high. Are you sure that isn't per year. One tonne of packed rice doesn't take up that much space.

[waza]

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.

"something new"

Sadly this particular scam, the 'disappearing-rice stock', is actually a Golden-Oldie, from the TRT-era if not before, and not at all new.

You don't need to teach an old dog the old tricks !

I wonder whether the government will try to reclaim the B800/ton/month storage-fees, which it's been paying out, in respect of this invisible rice ?

I have heard this 800 baht a month for storage per tonne before. Seems absolutely extortionately high. Are you sure that isn't per year. One tonne of packed rice doesn't take up that much space.

Storage and fumigating remember the anti fungal disperses in air so has to be repeated regularly, people need wages and the min is 300baht per day, then there's the tea money 30% and the taxable profit 0%. In the end that 800 baht per month per ton is breaking even.

Edited June 25, 2013 by waza

[OzMick]

1500, or is it 1700, more storage facilities to check. For a fast and reasonably accurate count of the tonnage stored, can I suggest a quick kangaroo court of the facility manager (and the owner if private), find him/them guilty of defrauding the people of Thailand, and publicly execute him forthwith - with an announced amnesty for those managers that come up with a true figure within 3 days.

That may seem a little harsh but after all he is nothing but a thief from the public purse, and its not like there's a shortage of them.

[Thai at Heart]

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.

"something new"

Sadly this particular scam, the 'disappearing-rice stock', is actually a Golden-Oldie, from the TRT-era if not before, and not at all new.

You don't need to teach an old dog the old tricks !

I wonder whether the government will try to reclaim the B800/ton/month storage-fees, which it's been paying out, in respect of this invisible rice ?

I have heard this 800 baht a month for storage per tonne before. Seems absolutely extortionately high. Are you sure that isn't per year. One tonne of packed rice doesn't take up that much space.

Storage and fumigating remember the anti fungal disperses in air so has to be repeated regularly, people need wages and the min is 300baht per day, then there's the tea money 30% and the taxable profit 0%. In the end that 800 baht per month per ton is breaking even.

I just think it may be mistaken that's all. Sweeping floors and fumigation doesn't cost that much. I would hope I am wrong.

If they pay 15,000 per tonne, and add 800 per month, or 9600 per year, it comes to 24,600? Of course, the 15,000 needs to be yielded for processing, but can it really be that high? Phospine fumigation and straw brushes to sweep up cost that much? Will do some searching.

[slapout]

OZ, Have never heard of a theft ring of this scope and size that did not share with those who set the entire system up. The pointing fingers are directing attention, away from those who are utilmately responsible. The entire group who proposed this and other vote buying scams, could be traced to receiving a part of the spoils. Seize assets, deport them to any country that will take them. Iran would be at the top of the request list and let them experience what they have been handing out for a while.

Where is the Big Brother touting the benifit of this program, strangely quiet, except for his Thai legal spokesman passing along what he says is straight from the leaders mouth. I guess Skype, International news reporters, PR companies,, etc interviews, are out of style when you have been shown to be so completely wrong in your intial plea for support of another self enrichment program for you and yours.

[belg]

makes you wonder...how many truckloads is that? nobody saw anything ... costs of warehouse are high, but no security camera?

was there even rice ? did it get stolen/sold or just moved to another one, after gettting the 15.000 baht scam, than getting it again in another warehouse...

how long will this crazy thing last? till thailand is bankrupt ?

[spirit47]

Don't worry, the rice is only borrowed, to sell it a second time. It called Circular production flow...

[meatboy]

Don't worry, the rice is only borrowed, to sell it a second time. It called Circular production flow...

dont worry they have been given a get out of jail card,PESTICIDE CONTAMINATION only 10,000bags we destroyed all whats left is ok.[for now] honest

[joepattaya1961]

I didn't read all the posts, but isn't THB 100,000,000 / 8,000 a THB 12,500?

The value should at least be THB 120,000,000 added with a few % for intrest and cost of keeping stock.

Or......?

[OzMick]

I just think it may be mistaken that's all. Sweeping floors and fumigation doesn't cost that much. I would hope I am wrong.

If they pay 15,000 per tonne, and add 800 per month, or 9600 per year, it comes to 24,600? Of course, the 15,000 needs to be yielded for processing, but can it really be that high? Phospine fumigation and straw brushes to sweep up cost that much? Will do some searching.

It's not whether it costs that much, that is the amount they are quoted as paying.

At that rate, after less than 20 months the storage costs are greater than the price paid for the over-priced commodity. Allow as little as 2% per month depreciation, and that period is reduced markedly. If you compare storage and depreciation to world market prices, you are looking at under a year before any return is exceeded by the costs alone, without considering purchase price.

So who owns all there private rice storage depots? Was this the secret behind the 4 seasons meeting?

[Thai at Heart]

I just think it may be mistaken that's all. Sweeping floors and fumigation doesn't cost that much. I would hope I am wrong.

If they pay 15,000 per tonne, and add 800 per month, or 9600 per year, it comes to 24,600? Of course, the 15,000 needs to be yielded for processing, but can it really be that high? Phospine fumigation and straw brushes to sweep up cost that much? Will do some searching.

It's not whether it costs that much, that is the amount they are quoted as paying.

At that rate, after less than 20 months the storage costs are greater than the price paid for the over-priced commodity. Allow as little as 2% per month depreciation, and that period is reduced markedly. If you compare storage and depreciation to world market prices, you are looking at under a year before any return is exceeded by the costs alone, without considering purchase price.

So who owns all there private rice storage depots? Was this the secret behind the 4 seasons meeting?

Can't find the quote, that's all.

[ignis]

[ratcatcher]

giant rat.jpg

I am impressed. After washing and skinning, that little bugger will feed an entire family.

[rubl]

8,000 tonnes missing. Well, help is on the way to offset that loss. Thailand Live Tuesday 25th of June #15:

30 tonnes of contraband rice held at Thai-Cambodian border
By English News



SA KAEO, June 25 – Customs officials in this Thai-Cambodian border province seized 30 tonnes of rice contained in a trailer believing the grain was smuggled from the neighbouring country.

Noppadol Thesprasit, customs chief at Aranyaprathet checkpoint, said Monday that the truck with its trailer were stopped on Ta Phraya-Ban Ko Kran Road in Ta Phraya district.

The truck driver, identified as Buncherf Avornkul, 38, told authorities that he was hired to transport the grain which he claimed was 25 per cent broken rice.

Customs officials suspected that the rice was smuggled into the kingdom from Cambodia. Two truckloads of rice, totally weighing 60 tonnes overall, were smuggled into Cambodia and seized last Friday.

There have been allegations that rice was smuggled from Cambodia to be sold under the government’s rice pledging scheme. (MCOT online news)

-- TNA 2013-06-25

[Thai at Heart]

8,000 tonnes missing. Well, help is on the way to offset that loss. Thailand Live Tuesday 25th of June #15:

30 tonnes of contraband rice held at Thai-Cambodian border

By English News

SA KAEO, June 25 Customs officials in this Thai-Cambodian border province seized 30 tonnes of rice contained in a trailer believing the grain was smuggled from the neighbouring country.

Noppadol Thesprasit, customs chief at Aranyaprathet checkpoint, said Monday that the truck with its trailer were stopped on Ta Phraya-Ban Ko Kran Road in Ta Phraya district.

The truck driver, identified as Buncherf Avornkul, 38, told authorities that he was hired to transport the grain which he claimed was 25 per cent broken rice.

Customs officials suspected that the rice was smuggled into the kingdom from Cambodia. Two truckloads of rice, totally weighing 60 tonnes overall, were smuggled into Cambodia and seized last Friday.

There have been allegations that rice was smuggled from Cambodia to be sold under the governments rice pledging scheme. (MCOT online news)

-- TNA 2013-06-25

Why would you bother to smuggle stuff out and then back into the country if the point is to be able to call the rice as of Thai origin??????????