Rice subsidy for newest harvest less than Bt270 billion

[webfact]

Rice subsidy for newest harvest less than Bt270 billion
By English News



BANGKOK, Oct 8 – The new round of rice pledging for the 2013/2014 harvest season, starting October 1, will cost the Commerce Ministry around Bt150 billion, according to the Bank of Agriculture and Agricultural Cooperatives (BAAC).

Luck Wajananawat, BAAC president, said the expected Bt150 billion in loans would cover rice purchase in the 2013/2014 crop, excluding paddy fields in the Central Plains and the Northeast which have been flooded and harvesting would be delayed.

Rice purchase for the delayed crop, expected in December-January, will cost about Bt5-8 billion, he said.

He said the BAAC would not need to reserve as much as Bt270 billion to buy rice in the 2013/2014 crop as the Commerce Ministry should pay about Bt220 billion from selling rice in its stockpiles to the BAAC via the Finance Ministry.

In addition, the BAAC was allocated Bt80 billion in the 2014 budget as its revolving fund for the rice pledging scheme, he said, adding that Thailand should be able to sell rice to China next year.

Deputy Agriculture Minister Yanyong Phuangrach said about 500 tonnes of rice had been sold to the government under the pledging scheme in the first week since the launch of the 2013/2014 programme.

The Commerce Ministry will buy rice from farmers at a maximum of Bt350,000 per household, he said. (MCOT online news)


-- TNA 2013-10-08

[LuckyLew]

When will the stupidity end?

Another few hundred billion in loses on the way

Rice farmers get free money .... rubber farmers get tear gased

[soi41]

Half the country flooded, 50 dead and more than 3 million affected by the floods, but because the paddyfields are under water, we are saving money on the rice-pledging-scam.

See, that is what I call good news!!

[cooked]

When will the stupidity end?

Another few hundred billion in loses on the way

Rice farmers get free money .... rubber farmers get tear gased

Small time rice farmers don't see any of this money at all, thanks very much.

[monkeycountry]

When will the stupidity end?

Another few hundred billion in loses on the way

Rice farmers get free money .... rubber farmers get tear gased

Small time rice farmers don't see any of this money at all, thanks very much.

Yet small time rice farmers are still too stupid to keep the scam alive by supporting it. Even I did not think they were that stupid

[tragickingdom]

That is not too much, it is about the amount of money the army spend in the South with just as little success as the rice scheme is. Than we get the rubber farmers who demand to get paid, not for cutting down trees to fight overproduction but to produce more, the Maize farmers whose wives are complaining that the maize is too small and thus too cheap, the fruit farmers.

There are people who claim it is about vote buying they are mostly from the opposition and as we all know they lost because they cannot count. There are many more people buying rice than producing it. So Maybe the poor factory workers should be helped next with more money to pay for the far too expensive basic goods too. If Abhisit is smart he would promise them relief, he could finally get into power without military help.

[rubl]

That is not too much, it is about the amount of money the army spend in the South with just as little success as the rice scheme is. Than we get the rubber farmers who demand to get paid, not for cutting down trees to fight overproduction but to produce more, the Maize farmers whose wives are complaining that the maize is too small and thus too cheap, the fruit farmers.

There are people who claim it is about vote buying they are mostly from the opposition and as we all know they lost because they cannot count. There are many more people buying rice than producing it. So Maybe the poor factory workers should be helped next with more money to pay for the far too expensive basic goods too. If Abhisit is smart he would promise them relief, he could finally get into power without military help.

nice rant, but a minor error seems to have slipped in somehow. The budget proposed for the MoD for 2013/2014 is about THB 182 billion if I remember correctly. That's really less than the 'less than THB 270 billion in rice subsidy' apart from being the total budget, rather than just the bit spent down South.

In the mean time I'm still wondering as usual how much profit the government made in selling those 500,000 tonnes of rice at the begin of the new 2013/2014 season. Furthermore from which season was that rice?

[technology]

That is not too much, it is about the amount of money the army spend in the South with just as little success as the rice scheme is. Than we get the rubber farmers who demand to get paid, not for cutting down trees to fight overproduction but to produce more, the Maize farmers whose wives are complaining that the maize is too small and thus too cheap, the fruit farmers.

There are people who claim it is about vote buying they are mostly from the opposition and as we all know they lost because they cannot count. There are many more people buying rice than producing it. So Maybe the poor factory workers should be helped next with more money to pay for the far too expensive basic goods too. If Abhisit is smart he would promise them relief, he could finally get into power without military help.

nice rant, but a minor error seems to have slipped in somehow. The budget proposed for the MoD for 2013/2014 is about THB 182 billion if I remember correctly. That's really less than the 'less than THB 270 billion in rice subsidy' apart from being the total budget, rather than just the bit spent down South.

In the mean time I'm still wondering as usual how much profit the government made in selling those 500,000 tonnes of rice at the begin of the new 2013/2014 season. Furthermore from which season was that rice?

As far as rants go, it's a mishmash of indecipherable gibberish.

[mayday49]

That is not too much, it is about the amount of money the army spend in the South with just as little success as the rice scheme is. Than we get the rubber farmers who demand to get paid, not for cutting down trees to fight overproduction but to produce more, the Maize farmers whose wives are complaining that the maize is too small and thus too cheap, the fruit farmers.

There are people who claim it is about vote buying they are mostly from the opposition and as we all know they lost because they cannot count. There are many more people buying rice than producing it. So Maybe the poor factory workers should be helped next with more money to pay for the far too expensive basic goods too. If Abhisit is smart he would promise them relief, he could finally get into power without military help.

nice rant, but a minor error seems to have slipped in somehow. The budget proposed for the MoD for 2013/2014 is about THB 182 billion if I remember correctly. That's really less than the 'less than THB 270 billion in rice subsidy' apart from being the total budget, rather than just the bit spent down South.

In the mean time I'm still wondering as usual how much profit the government made in selling those 500,000 tonnes of rice at the begin of the new 2013/2014 season. Furthermore from which season was that rice?

As far as rants go, it's a mishmash of indecipherable gibberish.

Oats , sweet peas and barley grows , not indecipherable giblets ..! .

[waza]

"In addition, the BAAC was allocated Bt80 billion in the 2014 budget as its revolving fund for the rice pledging scheme, he said, adding that Thailand should be able to sell rice to China next year."

This is in adddition to the inital 500 billion allocated to the revolving fund set up for the 2011-2012 season. The term financial blackhole comes to mind.

Edited October 9, 2013 by waza