Bt400 billion loss from rice subsidy denied

[webfact]

Bt400 billion loss from rice subsidy denied
By English News



BANGKOK, Sept 30 – Commerce Minister Niwatthamrong Boonsongpaisan today rejected a report that the government lost Bt400 billion from its rice pledging scheme in the last two years.

He said the loss could be slightly over Bt80 billion per year as allowed in the subsidy framework, based on its Bt640 billion spending in two years.

The Finance Ministry will be paid more than Bt200 billion by the year end while rice in the state stockpiles, currently at 10 million tonnes, would be reduced by half, due to releases.

The government will soon conclude delivery of 1.2 million tonnes of rice to China as agreed during the prime minister’s recent visit there, he said.

Mr Niwatthamrong said related agencies are ready for the new round of rice purchase for the 2013/2014 harvest season, starting tomorrow, October 1.

He said the Commerce Ministry has been trying to release rice in every possible way and to return revenue from rice sales to the Bank of Agriculture and Agricultural Cooperatives (BAAC).

The ministry has so far paid Bt160 billion to the BAAC and another Bt200 billion payment should be made by year-end, he said.

Regarding complaints from some southern rice farmers that they could not join the rice subsidy scheme, the commerce minister said the BAAC was instructed to look into the issue and said the National Rice Committee recently approved budget to buy rice from southern farmers who applied to the Agriculture and Cooperatives Ministry to join the programme. (MCOT online news)


-- TNA 2013-09-30

[Gsxrnz]

sigh.........

[soi41]

Khun Niwatthangrong. Of course we believe you !!

[happynthailand]

thats a lot dirty rice in that picture.

wonder who gets the dirty rice thats setting on the floor??

[laurentbkk]

All this money which could have been used for Flood prevention , I would rather prefer to see my taxes used for some other purposes than this ever ending hole. what a shame !

[dcutman]

Nobody knows how much has been lost/stolen from this scam. Is all that anybody knows, is that around 1 trillion baht has been spent so far, and it will continue to be lost or stolen until some body does something about it.

The only other thing that is certain, is a lot of people made truck loads of money, and is now deposited someplace outside this country.

[dcutman]

Regarding complaints from some southern rice farmers that they could not join the rice subsidy scheme

Why would any of these people be allowed to join this program? Did they vote PTP?

[Neilly]

Bt400 billion loss from rice subsidy denied

By English News

[kurnell]

No money lost at all. It can be found in the pollies bank accounts in full.

[lemonjelly]

CERN was built for less than this government has lost on the rice plebbing scheme.......

[worgeordie]

The sad thing about all this mess and loss of the publics money,

is that no one will ever be held responsible,certain people have

gotten a lot richer off this scam,but not the people it was supposed

to help.

The final loss will never be known ,as no one in the government seems

to know how much has actually be spent buying overpriced rice,how

much has been sold,vanished,eaten by birds ,bugs,and rats.

Its unbelievable,that they are going to continue down the same road,

does no one in power care what damage this and lots of other stuff

is doing to the country.

regards worgeordie

[i claudius]

Thailand ,THE HUB OF NO RICE MONEY LOSES.

[slapout]

Thailands published rice production is approaching 33 million tons per year since this program was ramrodded thru. Consumption is 10 million tons/year in Thailand. We are told that 6 million ton+ was exported in the first year (this was most likely pre 2011 harvest as that is all that was purchased at a favorable price for competing in the world market). Some rice sold/delivered last year was said by a government mouth piece, to be year 2008 harvest.

Now the 2 year realistic figures are 66 million total paddy less 20 for local consumption so you have 46 million tons paddy to mill with a 30% weight loss, equals 32 million, less the government allowable of 15 % transport loss 4.8 million and you are back close to the Aig. bank figure of 28 million of grain (less than 2 year old) in storage.

I am not sure which will be more destrictive to Thailand, the apparent loss of about 18 million tons of rice or the repayment of only 160 billion baht to the Aig bank which has paid out over 600 billion to fund a rice program of which only 10 million tons seem to be avaliable for inspection, sale, burning, theft, giveaway, etc..

[Local Drunk]

Thailand ,THE HUB OF NO RICE MONEY LOSES.

Well to be certain: Thailand is no longer the "Hub of Rice".

[rubl]

"Commerce Minister Niwatthamrong Boonsongpaisan ... said the loss could be slightly over Bt80 billion per year ..."

My memory probably starts to fail me with time, just as is the case with the MoC as it would seem.

2013-07-17

Minister to the Prime Minister’s Office Varathep Rattanakorn said that according to a Finance Ministry sub-committee, the government spent Bt352 billion to buy 21.7 million tonnes of rice in the 2011/2012 crop while Bt156 billion worth of rice remains in the stockpiles and the sold volume was Bt59 billion, leaving net losses of Bt136.908 billion.
http://www.thaivisa.com/forum/topic/647379-bt136-billion-losses-from-rice-subsidy-in-20112012-crop/

BTW if we made a substancial profit on the THB 156 billion worth of 2011-2012 rice remaining in June the loss over 2011-2012 could be much less of course

[tomross46]

What happened to the rice that was in the floods in 2011, and this year.

[Thai at Heart]

Thailands published rice production is approaching 33 million tons per year since this program was ramrodded thru. Consumption is 10 million tons/year in Thailand. We are told that 6 million ton+ was exported in the first year (this was most likely pre 2011 harvest as that is all that was purchased at a favorable price for competing in the world market). Some rice sold/delivered last year was said by a government mouth piece, to be year 2008 harvest.

Now the 2 year realistic figures are 66 million total paddy less 20 for local consumption so you have 46 million tons paddy to mill with a 30% weight loss, equals 32 million, less the government allowable of 15 % transport loss 4.8 million and you are back close to the Aig. bank figure of 28 million of grain (less than 2 year old) in storage.

I am not sure which will be more destrictive to Thailand, the apparent loss of about 18 million tons of rice or the repayment of only 160 billion baht to the Aig bank which has paid out over 600 billion to fund a rice program of which only 10 million tons seem to be avaliable for inspection, sale, burning, theft, giveaway, etc..

30% loss is too low.

[ratcatcher]

Whose idea was this rice pledging scam scheme?

Does anyone know where the buck baht stops?

And as for the dirty rice, it's all going to get washed in the rain tonight.

[LuckyLew]

Yes it is not 400 billion ... more like 500 lol

And that still say it is a great schme

Thieves and crooks at play

[Soi Sauce]

Regarding complaints from some southern rice farmers that they could not join the rice subsidy scheme, the commerce minister said the BAAC was instructed to look into the issue and said the National Rice Committee recently approved budget to buy rice from southern farmers who applied to the Agriculture and Cooperatives Ministry to join the programme. (MCOT online news)

Sez it all.

[NeverSure]

I would truthfully deny that the loss is 400 billion baht too. It's literally at 1 trillion baht.

[trainman34014]

Can't expect much else from a Government that lives in constant denial.

[i claudius]

Thailand ,THE HUB OF NO RICE MONEY LOSES.

Well to be certain: Thailand is no longer the "Hub of Rice".

Sorry but i beg to differ ,it is the "hub of rice" ,there has never been so much of the bloody stuff filling up the wharehouses

[Tigre101]

thats a lot dirty rice in that picture.

wonder who gets the dirty rice thats setting on the floor??

To the USA to make up for the contaminated rice shipment that was rejected last month.

Bon appetite...

[waza]

How dare they leak this information, dont they know it is a state secret?

Edited September 30, 2013 by waza

[Tigre101]

"Commerce Minister Niwatthamrong Boonsongpaisan ... said the loss could be slightly over Bt80 billion per year ..."

My memory probably starts to fail me with time, just as is the case with the MoC as it would seem.

2013-07-17

Minister to the Prime Ministers Office Varathep Rattanakorn said that according to a Finance Ministry sub-committee, the government spent Bt352 billion to buy 21.7 million tonnes of rice in the 2011/2012 crop while Bt156 billion worth of rice remains in the stockpiles and the sold volume was Bt59 billion, leaving net losses of Bt136.908 billion.

http://www.thaivisa.com/forum/topic/647379-bt136-billion-losses-from-rice-subsidy-in-20112012-crop/

BTW if we made a substancial profit on the THB 156 billion worth of 2011-2012 rice remaining in June the loss over 2011-2012 could be much less of course

That's two different ministries. Commerce and finance.

They are part of the problem. No accountability. No collaboration. No communication. No clue.

[Tigre101]

Whose idea was this rice pledging scam scheme?

Does anyone know where the buck baht stops?

.

With these two.

Prime Minister Yingluck Shinawatra implemented the price- support policy

Exiled Thai Leader Thaksin Says Rice Policy Should Stay

https://www.google.com/url?sa=t&rct=j&q=thaksin%20rice%20pledging&source=web&cd=7&ved=0CEQQFjAG&url=http%3A%2F%2Fwww.businessweek.com%2Fnews%2F2012-09-24%2Fthai-rice-policy-should-stay-several-more-years-thaksin-says&ei=4K5JUsbIBsKtrAfakoD4Aw&usg=AFQjCNFP9SaWtpipOqwEUblGM2LZWgVCFw&bvm=bv.53217764,d.bmk

[tingtong]

All this money which could have been used for Flood prevention , I would rather prefer to see my taxes used for some other purposes than this ever ending hole. what a shame !

could have...but would have?

there is lots of way to change government money into private money, and thai ppl are very resourceful in it.

[GeorgeO]

Nobody knows how much has been lost/stolen from this scam. Is all that anybody knows, is that around 1 trillion baht has been spent so far, and it will continue to be lost or stolen until some body does something about it.

The only other thing that is certain, is a lot of people made truck loads of money, and is now deposited someplace outside this country.

I, for one, believe that when you add in the rubber protests and the current debacle of up-country supporters once again finding that their homes are uninhabitable and many of their possessions are lost through flooding, this government's days must surely be numbered. It is only after they have been ousted that the truth will be known, and it is likely to be devastating...!

[Thait Spot]

Whatever happened to the publishing of "transparrent" fugures we were promised?

A proper press would have followed up......