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

[renaissanc]

My dog, Buk Bik, who has more intelligence than the whole Cabinet combined, and I were just reading this article when Buk Bik commented that the report sounded like another white lie. She remembers that the government couldn't find buyers during the period in which 4 million MT have apparently been sold, yet now they say that countries were actually eager to buy the rice at a price well over the world prices, even thought the rice is rotting and old. I agreed with her and suggested that maybe the Minister couldn't remember what white lies he has been making. Also, being very good at Maths Buk Bik said that 17 million MT - 4 million MT does not equal 10 million MT. She's a very clever dog as you can see.

[Baerboxer]

How long will it be before someone announces that all the rice has been sold, all the money paid back to the banks, and that in fact, the scheme not only improved the standard of living for many farmers, but also produced a nice profit to benefit taxpayers?

A complete vindication of the clever populist policies from the people's elected government and their genius strategist and economic thinker.

And a kick in the pants for those silly farang know-it-alls at Moody's.

Yep, it's good see a plan come together

[xen]

Maybe some of it has disappeared into the vats to brew up some rice whiskey for the loyal and trusty battlers who support this government.

Big Party soon !! Dancing in the streets and so on . Celebration for the return of the prodigal son maybe.

[khunken]

There seems to be some sort of competition here to win the biggest porkie pie.

Leaving out the PTP government itself, there's always TAT, the Customs dept, the Revenue dept & the Foreign ministry. But the Commerce Dept seems to be leading the way by releasing figures that belong in a Not The Nation skit.

It does, however, prove that 'fact' is often more wacky than fiction.

[Globeman]

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!

And who are they selling it to? ("oooh, ummmm... G to G") I'd love to know who is stupid enough to pay $700/tonne for tired old clapped out rice when the normal price is about $400-450. I'd like to sell them my car.

[GentlemanJim]

Maybe inside the free cat paper bag the TOT are using to entice a global influx of tourists to spend big dollars they could give a free 1 kg bag of Thai rice ( with suitable health warning). At current tourist rates it will move 2 million tons a year and Thai Airways will make billions in charging 1000 baht per kilo excess baggage. What a simply brilliant Monday idea!! (OMG!)

[GentlemanJim]

Maybe inside the free cat paper bag the TOT are using to entice a global influx of tourists to spend big dollars they could give a free 1 kg bag of Thai rice ( with suitable health warning). At current tourist rates it will move 2 million tons a year and Thai Airways will make billions in charging 1000 baht per kilo excess baggage. What a simply brilliant Monday idea!! (OMG!)

Sorry that should have course have been 20 000 tons not 2 million. I am a factor of 100 out perhaps i can apply for a job tomorrow with the finance and statistics department of the commerce Ministry.

Edited September 2, 2013 by GentlemanJim

[Bkungbank]

Malaysian likes Thai rice but the government have to protect local rice, So don't expected in high volume order.

[rubl]

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.

2011/2012 22 - 24m tonnes pledged, THB 352 billion spent

2012/2013 22 - 24m tonnes pledged, THB 350 billion spent??

less than 10m tonnes left.

1. Is that from 2012/2013 only , 2011/2012 only, or 2011/2013?

2. how much do Thai eat?

3. please state the profit made

[BudRight]

Those ten million tons should be gone in a jiffy. Only ten million tourists need to each take a ton of rice with them.

[rametindallas]

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.

Impossible to bring it into the US due to agricultural restrictions. I did get some curry paste past them once though.

[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.

Impossible to bring it into the US due to agricultural restrictions. I did get some curry paste past them once though.

I got caught out with all of this as I know Australia has very strict import regulations but didn't think how so many other countries would too.

Clearly, and it typical Thai fashion, Trade promotions Dept., didn't think this through and take into consideration such import restrictions so tourists are not going to buy something they will have to surrender on arrival home or face stiff penalties if they try to get the rice through Customs

[Ricardo]

This is slightly-reminscent of a popular game we used to see, called 'Find The Lady', where three cards were shuffled & moved about, and you had to guess where the queen-card had gone ?

To the delight and mystification of onlookers, it had completely disappeared, and so had your money !

Do they have this game here too, I wonder ?

[EyesWideOpen]

Twenty million tons now down to ten million tons . Hmmmm. Either some incredible sales have quietly occurred

that the government is keeping quiet on, or........it is as some posters have postulated, that a lot of this was simply

phantom numbers, and the rice did not exist. Thus turning this into a massive shell game. Either way, one thing

is for sure, we will NEVER find out the real truth, as this rice scam is certainly the biggest fleecing of the Thai

tax payer in history......

[Ulic]

Head line should read " Thai Rice Pledging a Success, Stockpile Down to 10 Millions Tonnes,Selling now at $700 US a Tonne"

Pledging rate is going to 20,000 baht per tonne for next harvest.