Iran buying 250,000 tonnes of Thai rice

[klauskunkel]

Could not help notice they did not mention at what price?

IMO they are selling at a huge loss

Nah, don't worry. It's fake rice. From Patpong.

[klauskunkel]

Iran buying 250,000 tonnes of Thai rice

with or without microchips?

[rubl]

So Iran buys 250,000 tonnes, wants to buy at least 750,000 tonnes more and is expected to buy at least 500,000 tonnes next year.

Now noting in my agenda to check next year how much of that possibly 1.5m tonnes has extually been bought, shipped, paid-for.

[GAZZPA]

I doubt greatly that a "government to government" contract actually exists. The rice is effectively owned by the Thai tax payer if I am not mistaken, so it would have to be transparent and auditable which if course it isn't and will never be. I am still stunned by some of the things I see going on in Thailand, I guess someday I will stop being surprised. Whatever happens and whatever stories are written they will need to face this soon and provide real answers, it will not go away, the money borrowed for this scheme will have to be paid back to the AG bank, there is no escape from that. This is too big for just an internal issue that can be hidden away. It has taken away Thailands number 1 export slot for the rice business and the farmers will feel this when the government have to stop supporting the scheme. How will they sell the mountain of stockpiled rice before it spoils and not lose billions of USD? This could devastate the countries budget and effect the countries credit rating? The clock is ticking and the international community (and Moody's) is watching. I hope the answers come soon for Thailand.

[Robby nz]

I wonder if this is just another of the MOU's.

Like the one the Min of Commerce said had been signed with China 2 years ago and had yet to be actioned.

If I remember correctly the report said the Govt wanted China to hurry up and actually buy the rice agreed to under that MOU.

[Ace of Pop]

That is good News,i'm sick of eating the stodgy stuff.

[antfish]

It's really a shame for our government to buy huge amount of (probably low quality) rice from Thailand. Iran has an excellent rice. Thai rice has been notorious in Iran for not being delicious and having no scent at all. I'm sure only people who cannot afford Iranian rice will go for it!

my brother, don't copy the falangs here and start talking bad about Thailand. Thailand exports rice to Iran since ages.

[PETERTHEEATER]

Don't worry! The rice can be fermented by the Iranians to produce ethyl alcohol and added to the oil shipped to Thailand.

[Jingthing]

It's really a shame for our government to buy huge amount of (probably low quality) rice from Thailand. Iran has an excellent rice. Thai rice has been notorious in Iran for not being delicious and having no scent at all. I'm sure only people who cannot afford Iranian rice will go for it!

my brother, don't copy the falangs here and start talking bad about Thailand. Thailand exports rice to Iran since ages.

Aren't Persians f-rangs too ... being Caucasian ... just saying.

[Suradit69]

I remember reading an interview with the biggest rice dealer in India who clearly stated that there was no such thing as government to government transactions

Obviously that trader has no clue now does he ???

It will be bartered for oil. Win win for everyone.

Iran finds a country to take its oil subject to international sanctions (not that this has stopped South Korea or India) and Thailand unloads its rice.

"Obviously that trader has no clue now does he ???"

He thus has all the qualifications for TV membership as well as the expertise to comment on government transactions as viewed from his usual bar stool.

[Espinete]

Do not have a clue about rice but imagine after long hot storage it needs pesticides regularly to keep lices mini-ants etc. away? Wish Iran a good meal.

[hellodolly]

I doubt greatly that a "government to government" contract actually exists. The rice is effectively owned by the Thai tax payer if I am not mistaken, so it would have to be transparent and auditable which if course it isn't and will never be. I am still stunned by some of the things I see going on in Thailand, I guess someday I will stop being surprised. Whatever happens and whatever stories are written they will need to face this soon and provide real answers, it will not go away, the money borrowed for this scheme will have to be paid back to the AG bank, there is no escape from that. This is too big for just an internal issue that can be hidden away. It has taken away Thailands number 1 export slot for the rice business and the farmers will feel this when the government have to stop supporting the scheme. How will they sell the mountain of stockpiled rice before it spoils and not lose billions of USD? This could devastate the countries budget and effect the countries credit rating? The clock is ticking and the international community (and Moody's) is watching. I hope the answers come soon for Thailand.

2.2 Trillion baht loan for rice infrastructure + politicians tea money. Might have some left over to Repave the driveway into Yingluck's house.

[KuhnPaen]

Meanwhile, somewhere in Isaan...a rice farmer is living in a shack on stilts, swatting mosquitoes, and probably has a framed pic of their beautiful daughter wearing garish makeup, and lit by the disco lights of a Pattaya nightclub.

Great job Ace.

[Payboy]

I guess the hop-a-long guy gets an early pardon now.

Edited July 26, 2013 by Payboy

[GirlDrinkDrunk]

in exchange for meth?

[Robby nz]

Read a bit from another source by someone who went into one of the rice warehouses for a look, one paragraph from what they wrote :

Looking closer, we see signs of life, as bugs and critters run to and fro in ever-shifting tunnels within the rice mountain. Pigeons coo from high up in the wooden ceiling, interspersed with the occasional splatter of fresh droppings on the rice sacks.

Now pigeons (and other birds) are not something I have seen mentioned before, I do know however because I have seen for myself just how much a place where pigeons roost stinks.

The pigeon poo would not be all over the sacks only under the rafters where the pigeons sit but it would not take much to contaminate a whole sack.

Happy eating Iran

[mjef]

It's really a shame for our government to buy huge amount of (probably low quality) rice from Thailand. Iran has an excellent rice. Thai rice has been notorious in Iran for not being delicious and having no scent at all. I'm sure only people who cannot afford Iranian rice will go for it!

my brother, don't copy the falangs here and start talking bad about Thailand. Thailand exports rice to Iran since ages.

Oh don't get me wrong please! I'm not talking bad about Thailand. Actually it's quite the opposite! I'm fond of Thailand and going to move there in August. You're also right about "Thailand exports rice to Iran since ages". That's why Iranians has a bad memory of it! Maybe they always import cheap rice to Iran. Now the price of Iranian rice is about 90 Bahts/kilogram in the market and Thai rice is usually much cheaper (30-40 Bahts/kilogram). And of course Indian rice is much more popular after Iranian rice.

[Thai at Heart]

Read a bit from another source by someone who went into one of the rice warehouses for a look, one paragraph from what they wrote :

Looking closer, we see signs of life, as bugs and critters run to and fro in ever-shifting tunnels within the rice mountain. Pigeons coo from high up in the wooden ceiling, interspersed with the occasional splatter of fresh droppings on the rice sacks.

Now pigeons (and other birds) are not something I have seen mentioned before, I do know however because I have seen for myself just how much a place where pigeons roost stinks.

The pigeon poo would not be all over the sacks only under the rafters where the pigeons sit but it would not take much to contaminate a whole sack.

Happy eating Iran

I have little doubt that just about all paddy rice in Thailand in storage in Thailand has ALWAYS been filled with bird crap and bugs. That's why you mill it, and take it out.

[scotinsiam]

What is the exchange rate between 2 year old mouldy rice and crude oil?

I doubt the rice is strengthening in value much.....

It will be fine as Thailand has a trustmark on exports to ensure quality.

http://www.thailandtrustmark.com/

[bitcoinbob]

The sale means the trading giants Glencore,Bunge,Cargill are squeezing the Thai government , their 5 billion dollar lost is going to become 10 to 15 billion after theese guys get done. they watch all the movement of rice in and out of the country there intelligence is superior to any government. there only chance is to let these guys market the rice for them but being thai they are being stubborn which is going to cost they hugh cash. watch the government budget 2 years from now it will be hugh thai govt bonds are going to take a major hit between this and all the other populist schemes.

[Thai at Heart]

The sale means the trading giants Glencore,Bunge,Cargill are squeezing the Thai government , their 5 billion dollar lost is going to become 10 to 15 billion after theese guys get done. they watch all the movement of rice in and out of the country there intelligence is superior to any government. there only chance is to let these guys market the rice for them but being thai they are being stubborn which is going to cost they hugh cash. watch the government budget 2 years from now it will be hugh thai govt bonds are going to take a major hit between this and all the other populist schemes.

Only Thai companies can export food products particularly rice.

That's why it's the Thai rice exporters association.

[chooka]

Read a bit from another source by someone who went into one of the rice warehouses for a look, one paragraph from what they wrote :

Looking closer, we see signs of life, as bugs and critters run to and fro in ever-shifting tunnels within the rice mountain. Pigeons coo from high up in the wooden ceiling, interspersed with the occasional splatter of fresh droppings on the rice sacks.

Now pigeons (and other birds) are not something I have seen mentioned before, I do know however because I have seen for myself just how much a place where pigeons roost stinks.

The pigeon poo would not be all over the sacks only under the rafters where the pigeons sit but it would not take much to contaminate a whole sack.

Happy eating Iran

Pigeons also known as flying rats.

[blueyeshk]

They sue monks , arrest SMS grandpas, but what about the inventor of the rice scheme for damaging the kingdom and their reputation being the leading rice producer with the highest quality ,now they have to store and fume with bromide million tons of stored rice and there is more to come. not that i think bromide fuming is harmful in the right hands we do it for decades but that is exactly why i am worried knowing the hands and standards used.Why they don't just give the farmers directly money even for doing nothing. Potato lover.

[blueyeshk]

Nothing is more difficult and expensive but to recover a ruined reputation as the once best known prime quality rice producer add this cost to the various other cost involved into this policy and deduct all this from an eventually world market price and you will see Red not only by numbers

[belg]

and can the people know

at what price it has been sold ?

hope they get paid in oil or currency

worse case : in crystal meth or heroin or not at all

[blueyeshk]

Whatever Price they archived it will not make up for the 2XXxx bht + per t they finally paid for.