Rice in Thai govt stockpiles now to less than 10 million tonnes

[webfact]

Rice in govt stockpiles now to less than 10 million tonnes
By English News



BANGKOK, Sept 2 – The Commerce Ministry confirmed that rice in state stockpiles, purchased from farmers under the rice pledging scheme, has fallen to less than 10 million tonnes.

Tikhumporn Natvaratat, Foreign Trade Department deputy director general, said rice in the stockpiles would have to be quickly released to prepare for the new round of subsidised rice, starting next month.

The government will buy rice from farmers at pledging prices of Bt15,000/tonne for the upcoming 2013/2014 crop and Bt13,000/tonne for the second crop.

Negotiations were underway to sell rice to Malaysia and a deal should be struck soon, while the Commerce Ministry would deliver 250,000 tonnes of rice to Iran next month, said Mr Tikhumporn.

He expressed confidence that the remaining rice would be released as targetted by the end of the year through five different methods – auction, government-to-government trade, the Agriculture Futures Exchange of Thailand, internal trade through varied agencies and direct purchase by the private sector.

He said foreign state enterprises and private companies would also be welcomed to directly buy rice from the Thai government.

The Commerce Ministry has so far paid Bt140 billion from the rice purchase to the Bank of Agriculture and Agricultural Cooperatives. The targetted payment is Bt220 billion.

He said Thailand exported 4.02 million tonnes of rice at an average price of US$700/tonne from January to August 26 – the historic volume which generated a total revenue of US$2.828 billion (Bt84 billion).

Mr Tikhumporn said the Commerce Ministry has sold over 200,000 tonnes of grain, including 100,000 tonnes of white rice and 120,000 tonnes of paddy, in the last three auctions.

The private sector was not enthusiastic with the biddings, and the Foreign Trade Department could not provide a wider variety of rice for auction, he said, promising to add more varieties to attract rice traders. (MCOT


-- TNA 2013-09-02

[laurentbkk]

Less than 10 millions ? .... 9,9 million tones perhaps ? I think this will be VERY HARD to sell at asking price. Not to mention new harvest is on the way .....

[jaltsc]

"...stockpiles, purchased from farmers under the rice pledging scheme, has fallen to less than 10 million tonnes."

Wow!!! Those rats and weevils must have hearty appetites.

[hellodolly]

So what is the net loss so far.

One little figure that they try to hide with a barrage of other figures and silence.

[Pimay1]

Anyone that believes this stand on their head and whistle Dixie.

[winstonc]

as i look out of my garden now....there harvesting the rice around me..so 10 million +..i would presume very quickly...because there sooooo stupid,i find myself embarrased for them...no i dont..just trying to be kind...

[GentlemanJim]

Is this a big fat lie or just counted as a small harmless 'don't worry the people' white lie? Whatever............I don't believe it! 20 million tons, to 10 million tons in a matter of months, with only 4 million tons sold (I don't believe that either). Where is it all, where is the money, where is the national audit, where is the DSI now when you need them (250 officers checking Abhisits road tax no doubt and making sure the colour of his underwear this morning is not against the constitution).

The phrase bolleux springs to mind!

[worgeordie]

Does that mean a lot has just rotted away,was never there in the first place,

maybe rats carrying it away on the back of trucks,no one will ever know the

the full story and the truth.

regards Worgeordie

[Nickymaster]

Is that good news or bad news?

[GentlemanJim]

Does that mean a lot has just rotted away,was never there in the first place,

maybe rats carrying it away on the back of trucks,no one will ever know the

the full story and the truth.

regards Worgeordie

Exactly! What a pity it has all been claimed for at 15000 baht per ton. 20 Million tons!!!! Or was it really ten million that was just shipped from warehouse to warehouse?

[NongKhaiKid]

Fear not as the powers that be have come up with a cunning plan for jasmine rice.

IN Channel reported that jasmine rice is to be specially packaged and put on sale at Swampy, Don Muang and Phuket airports to take away as a Souvenir of Thailand.

Not doubt any weevils, toxins etc. will be included in the price to make sure tourists get a genuine bargain.

[webfact]

UPDATE:

Thailand exports 4 million tons of rice this year

BANGKOK, 2 September 2013 (NNT) - Thailand has exported over 4 million tons of rice since the beginning of this year, at the highest average price ever in the history of the country's rice export.

According to the Department of Foreign Trade (DFT), Thailand during January to August 2013 exported more than 4 million tons of rice at an average price of 700 US dollars per ton, the highest price Thai rice has ever fetched, bringing in over 2.8 billion US dollars for the rice exporting industry this year.

As for the 3 previous rice auctions held earlier, the department said it had already sold more than 200,000 tons of the pledged rice, while admitting that the auctions did not attract many buyers as the rice offered did not match their demand. However, the Department is keen on fixing that problem and finding a way to entice prospective buyers to take part in future auctions, it added.

-- NNT 2013-09-02

[LuukKoeyKorat]

"However, the Department is keen on fixing that problem and finding a way to entice prospective buyers to take part in future auctions, it added."

Hmmm...try dropping the price?

[Pimay1]

the highest price Thai rice has ever fetched, bringing in over 2.8 billion US dollars for the rice exporting industry this year.

DFT must have wised up and are now using TAT to write up their press releases.

[Songhua]

There's an ocean somewhere with six million tons of rice in it.

[Thait Spot]

Mohammed Saeed al-Sahhaf is alive and living in Thailand.

[GentlemanJim]

Dear Thai Government.

For the purpose of clarity and transparency involving this huge bumper rice sale that has suddenly occurred.

Where?

When?

To Whom?

How Much?

What Price?

[Thai at Heart]

Dear Thai Government.

For the purpose of clarity and transparency involving this huge bumper rice sale that has suddenly occurred.

Where?

When?

To Whom?

How Much?

What Price?

More importantly, which crop year and which quality? The old stuff is probably what is left.

[dru2]

...'According to the Department of Foreign Trade (DFT), Thailand during January to August 2013 exported more than 4 million tons of rice at an average price of 700 US dollars per ton, the highest price Thai rice has ever fetched, bringing in over 2.8 billion US dollars for the rice exporting industry this year'.

How can this be believed? Who is going to pay well over two times the market price for rice?

[ggold]

Negotiations were underway to sell rice to Malaysia and a deal should be struck soon, while the Commerce Ministry would deliver 250,000 tonnes of rice to Iran next month, said Mr Tikhumporn.

I thought Iran said it would not buy any Thai rice again after the last lot was not up to scratch?

[Misterwhisper]

And with rice soon being sold at airports as "souvenirs" to tourists according to another story, even those 10 million tonnes will be gone in no time as scores of foreign visitor will snap it up like hotcakes, because I suppose there is no greater bliss than bringing home a few bags of rice from an enchanting Thailand vacation to distribute among loved ones and friends.

[Pimay1]

And with rice soon being sold at airports as "souvenirs" to tourists according to another story, even those 10 million tonnes will be gone in no time as scores of foreign visitor will snap it up like hotcakes, because I suppose there is no greater bliss than bringing home a few bags of rice from an enchanting Thailand vacation to distribute among loved ones and friends.

They could start the same sales campaign I saw on a sign outside a tailor shop in Delhi. "Buy one suit and get two free". Just substitue rice for suit.

[slapout]

The commerce department reckons the volume of rice in storage has gone down by 8 to 18 million tons (depending on which government entity, stored rice figures you use). The figures published are 17 million up to 28 million tons.

The department of foreign trade says more than 4 million tons exported and they are one of only three who have access to this figure, but cannot release them due to national security. This has generated 84 billion baht in revenue and they have paid to the Ag bank 140 billion baht thus reducing the Ag bank investment in the rice program to about 640 billion baht, from 780 billion.+_

These export figures suggest someone is flipping a coin for "double or nothing" on what figures they will release, even though this may compromise national security. The repayment of debt figures suggests the accounting method may be somewhat suspect. In other words the system is operating in its normal manner, dodgey as hell.

[johnnie20110]

Is that good news or bad news?

It's great news.

At the current rate of exporting:

Thailand exports 4 million tons of rice this year

http://thainews.prd.go.th/centerweb/newsen/NewsDetail?NT01_NewsID=WNECO5609020010005

It means tht they'll only have to store the current 10 million tons of rice for about another 16 months or so.

Problem solved.

[edwinchester]

Negotiations were underway to sell rice to Malaysia and a deal should be struck soon, while the Commerce Ministry would deliver 250,000 tonnes of rice to Iran next month, said Mr Tikhumporn.

 

 

I thought Iran said it would not buy any Thai rice again after the last lot was not up to scratch?

It was Iraq that said they had suspended imports of Thai rice for three years according to a spokesperson of Thaksin.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

[dcutman]

Does that mean a lot has just rotted away,was never there in the first place,

maybe rats carrying it away on the back of trucks,no one will ever know the

the full story and the truth.

regards Worgeordie

Exactly! What a pity it has all been claimed for at 15000 baht per ton. 20 Million tons!!!! Or was it really ten million that was just shipped from warehouse to warehouse?

I am thinking you are spot on with this. How else can anybody explain the PTP govt borrowing nearly Bt 700 billion from The BAAC and to date have only repaid about Bt125 billion, with only a possibility of selling Bt 150 to 200 billion rice left in stock. Sounds like a Bt 400+- billion charge to taxpayers to me.

[Pimay1]

Does that mean a lot has just rotted away,was never there in the first place,

maybe rats carrying it away on the back of trucks,no one will ever know the

the full story and the truth.

regards Worgeordie

David Copperfield perhaps?

[dcutman]

Does that mean a lot has just rotted away,was never there in the first place,

maybe rats carrying it away on the back of trucks,no one will ever know the

the full story and the truth.

regards Worgeordie

David Copperfield perhaps?

Sheit , this PTP bunch makes Copperfield look like an amateur. At leaste the vanishing part anyway.

[renaissanc]

I've just checked with my dog, Buk Bik, who has more intelligence than all the Cabinet members together, about what the Ministry has said. She said that they were telling an untruth as US$700 MT is far more than anyone else is selling rice for in the world. She has also read (I said she's clever!) that the government was having trouble finding buyers, yet during the same period when buyers could not be found, it now seems that countries were in fact and still are snapping up Thai rice at the extremely high price. She has also pointed out that 17 million tonnes minus 4 does not equal 10. I told you she's intelligent! A lot more than the bunch in power.

[TallGuyJohninBKK]

"...stockpiles, purchased from farmers under the rice pledging scheme, has fallen to less than 10 million tonnes."

Wow!!! Those rats and weevils must have hearty appetites.

Or they're both very dead by now...depending on whom you believe about the testing results...