Thai Commerce Ministry seeks ways to cut rice stockpiles

[jaltsc]

How about forcing men who father children to marry the mother. Then making it a requirement for them to buy one 50 kilo bag of rice the throw at the wedding celebration? That should take care of 15-20 million bags off the top.

[NeverSure]

Strange normal that they don't mention bid prices. They paid about twice what the rice is worth and owe money on it at the higher price.

Thailand. the Hub of transparency.

[klauskunkel]

Thai Commerce Ministry seeks ways to cut rice stockpiles

That's easy, all you MPs, Officials, Advisors, Finance Gurus, Rice Millers open up your wallet and buy the rice. You screw it up, you eat it.

[tominbkk]

First, STOP STOCKPILING RICE!!!!!!!!

Second, Clearly separate any rice that is one year or older and spray it with food dye so no one can sell it as new. This may restore trust in the market that new crop rice is actually new crop rice.

Third, Sell the fresh rice at competitive prices

Fourth, turn the old rice into ethanol and/or animal feedstock.

Fifth, help the rice farmers to transition to other crops. 40% of the land rice is grown on is not suitable for growing rice. Plant crops that are suitable for the soil and weather conditions. Forget about Thailand ever becoming a World leader in rice exports. For half he money being spent on the rice scheme, the government could modernize Thai farmers and end their manual labor, never-ending poverty. Own up to the losses.

Sir, your post is far too sensible!

[slapout]

If the 15 million tons remaining in "government stockpile" is any indicator of real physical quanity, the auctions will not be needed.

The Ag. bank says they have paid for 28 million tons in the first 18 months of the program with more rice being added as each new crop is harvested. The 15 million ton figure indicates there is a massive leak of grain somewhere in a system which has already shown even more massive unexplained cost, drying, milling, transport, storage, and fumagation figures..

[rubl]

With the Commerce Ministry 'expecting' to return THB 200 billion to the government that might mean that with a bit more than 700 billion pledged the 500 billion fund at BAAC is still not revolving.

BTW when only a small lot of rice is sold does that mean the loss is 'contained' as all is still in stock ?

Edited August 21, 2013 by rubl