Foreign rice traders welcomed to buy rice directly from Thai govt

[fakename]

Never seen a bag of rice with "best before-30 years" You gotta be dreaming, or work for the Thai government.

[siampolee]

"She said the scheme would cost government not more than Bt300 billion." Oh really ONLY

300 billion what a deal! But once again it is probably some famous last words and will

cost a lot more.

A splendid comment that is so far removed from the truth it's probably in a galaxy of its own goodness knows how many light years away from we lesser mortals.

Methinks this comment should be framed and placed in Ripleys Believe it or not museum.

The comment from Madam Prime minister should actually read thus.

''"She said the scheme would cost the taxpayer (those who actually pay tax here in Thailand anyway) not more than Bt. 300 billion." Oh really ONLY.300 billion what a deal! But once again it is probably some famous last words and will cost a lot more.

Edited August 23, 2013 by siampolee

[Robby nz]

Are these the same traders who did not bid or did not bid high enough in the recent auction or was that for Thai traders only?

If they are the same foreign traders who were invited (welcomed) to bid at the auction and were not interested then there must be little chance of them wanting to buy this way.

After all the auction was buying direct from the Govt.

Wonder if the 85b per 5kg stuff will be new seasons or old stock?

And wont that one make the rice retailers happy.

But not to worry she said the scheme would cost government not more than Bt300 billion.

What's 300 billion anyway, it couldn't even have completed the food relief scheme or finished double tracking the railway and buying new rolling stock and we have plenty of quality schools and hospitals so it has obviously been lost spent in the best way possible.

[Mosha]

Note to government. Don't hold your breath.

Edited August 23, 2013 by Mosha

[thomash]

They may be welcomed but they are not

interested at the present price!

[BillyBobThai]

Nothing to see here, move along. This mountian of rice will be put to good use.

[SOTIRIOS]

"She said the scheme would cost government not more than Bt300 billion." Oh really ONLY

300 billion what a deal! But once again it is probably some famous last words and will

cost a lot more.

.....and let us never again mention the other 500B plus that has 'disappeared'....

[ThomasLoughney]

I have heard that the USA has rejected Thai rice due to contamination just recently. This makes me very concerned not only for Rice but food in general. If the government supports selling poor quality or harmful food, such as the Shrimp, Chicken and now Rice issues, then what other foods in Thailand are ok to buy and eat.

Not being too serious, but I know that in some markets veg's and fish are sprayed with chemicals to preserve them, and I have found from first hand experience that some vendors of cooked foods, simply mix the leftovers into tomorrows batch, and I have been sickened from our local market a number of times.

Better luck in more central areas, I am out a bit.

I do much of my shopping now in Villa Market, Food-land and International Market hoping they have better standards, but who knows.....

Carrefore was good, but since Big C the quality has gone down a lot.

Such a shame the country supports manufacturing and retail at the expense of the consumer.

[ThomasLoughney]

I just checked rice prices which are 15,000 baht a ton for Thai rice, 11,900 for Vietnam rice, and 9,000 for USA rice. A surplus is also forecast for production in Asia which will not lead to higher prices in the future.

Just amazing that Thailand could be the #1 producer of rice in the world to one of the worst in just 2 years..... That is faster than either Nokia or Blackberry or Kodak screwed themselves.

Thailand the hub of self destruction.....

[Noistar]

I just checked rice prices which are 15,000 baht a ton for Thai rice, 11,900 for Vietnam rice, and 9,000 for USA rice. A surplus is also forecast for production in Asia which will not lead to higher prices in the future.

Just amazing that Thailand could be the #1 producer of rice in the world to one of the worst in just 2 years..... That is faster than either Nokia or Blackberry or Kodak screwed themselves.

Thailand the hub of self destruction.....

2 years? 2 years, ummm, seems to ring a bell

[ballpoint]

Workers finish another section of the great wall of Thailand. This remarkable structure, said to be the only man made object able to be seen from Mars, will completely encircle the country once complete. When asked if this was designed to keep foreigners out, or Thais in, the PM replied "yes".

[Noistar]

If this was any other country, the 'brainchild' of this elaborate SCAM would be struck off in a vote of 'no confidence'. However I suspect this will never happen given most of the recepients I'm sure of this elaborate scheme is presently presiding in government.

This must be surely be the most embarrassing scandal ever to come out of Thailand so far. The fact that this government has single-handedly waisted public funds in such a casual and profound manner only endorses Thailand's gross incompetence. The crime against the country is one thing, but the fact that such waste could have funded so many other projects is perhaps the saddest part of this story.

I see it in a way as similar to the notorious EU butter mountain scandal of the late 80's, maybe the Thai politicians bought a load of the butter to make their fingers even more slippery...

Maybe they just learnt from us..

Took a long time to learn

[zydeco]

It's all so simple to cure, really. Just pay the farmers NOT to grow rice. Oh, silly. I forgot. This isn't actually about helping the farmers; it's about padding the pockets of the "agents" and middlemen. The only people making the big money do so by moving things around on paper.

[zydeco]

I have heard that the USA has rejected Thai rice due to contamination just recently. This makes me very concerned not only for Rice but food in general. If the government supports selling poor quality or harmful food, such as the Shrimp, Chicken and now Rice issues, then what other foods in Thailand are ok to buy and eat.

Not being too serious, but I know that in some markets veg's and fish are sprayed with chemicals to preserve them, and I have found from first hand experience that some vendors of cooked foods, simply mix the leftovers into tomorrows batch, and I have been sickened from our local market a number of times.

Better luck in more central areas, I am out a bit.

I do much of my shopping now in Villa Market, Food-land and International Market hoping they have better standards, but who knows.....

Carrefore was good, but since Big C the quality has gone down a lot.

Such a shame the country supports manufacturing and retail at the expense of the consumer.

And don't forget that "special" on Fukushima fish your local market just managed to get for its customers.

Edited August 23, 2013 by zydeco

[surangw]

Btw - does rice have a shelf life?

no, but the insectiside it is contanimated with does

[rubl]

overseas buyers would be required to buy rice at prices not lower than the general bidding prices

Which are what ? Oops, sorry, that's a National Secret, so the man-from-the-ministry can't tell you, or the general-public, in whose name this riceberg is owned !

the scheme would cost government not more than Bt300 billion.

But hey, what's 10 billion dollars or so, after all ?

Plenty more where that came from !

Ah, but there is improvement! 2011/2012 saw 352 billion pledged, 2012/2013 about same or slightly less. Of course without further changes the estimate non-profit might be 40 - 50% again as well

[rubl]

I just checked rice prices which are 15,000 baht a ton for Thai rice, 11,900 for Vietnam rice, and 9,000 for USA rice. A surplus is also forecast for production in Asia which will not lead to higher prices in the future.

Just amazing that Thailand could be the #1 producer of rice in the world to one of the worst in just 2 years..... That is faster than either Nokia or Blackberry or Kodak screwed themselves.

Thailand the hub of self destruction.....

As far as I know Thailand was never the #1 producer, just the number one exporter. mind you, that makes it even worse

[GentlemanJim]

But surely by dealing 'direct' with the Government all the bona fide Thai rice traders who have spent decades building their businesses are now being bulldozered to the side. the Government is setting itself up as a one stop shop. I wonder if the Government will pay taxes due on any exports they manage to secure, just as a normal trader would have to.

As an aside for those pondering which type of 'ton' weight is being used. If the sub-weight of Kg's is being used then one must assume that metric tons are the weight standard. Now if I had a million dollars to trade rice and were offered rice at 17000 baht per ton or 13000 baht per ton, which would I choose............mmmmmmmmm.......is this a difficult choice.....NO!

[rametindallas]

But surely by dealing 'direct' with the Government all the bona fide Thai rice traders who have spent decades building their businesses are now being bulldozered to the side. the Government is setting itself up as a one stop shop. I wonder if the Government will pay taxes due on any exports they manage to secure, just as a normal trader would have to.

As an aside for those pondering which type of 'ton' weight is being used. If the sub-weight of Kg's is being used then one must assume that metric tons are the weight standard. Now if I had a million dollars to trade rice and were offered rice at 17000 baht per ton or 13000 baht per ton, which would I choose............mmmmmmmmm.......is this a difficult choice.....NO!

Another private industry destroyed, Thai rice traders. It doesn't matter, though, as within three years of the government stopping this scheme, all the rice farmers will no longer have a market to sell to as the government will have enough rice to sell for years. The farmers will be selling rice in direct competition with their own government. That can't last long. I'm sure Moody's will stick their unwanted two cents in before too long.

[Ricardo]

This is surely an opportunity for the government to show that it can run a profitable business efficiently, examples like Thai Airways & the SRT are the exceptions, not the norm ?