Thai govt to inject 1.9 billion baht more to rice pledging scheme

[webfact]

Govt to inject 1.9 billion baht more to rice pledging scheme

BANGKOK, 30 October 2013 (NNT) - Deputy Spokesperson of the Prime Minister's Office Pakdeharn Himathongkham revealed the cabinet has approved a 1.9 billion baht fund for the rice mortgage scheme, to be specifically allocated to farmers who could not pledge their rice in time for the 2012/2013 harvesting season. The amount of rice under this scheme is estimated at 899,000 tons.

He said that the Bank for Agriculture and Agricultural Cooperatives has been assigned to request necessary funding from the Budget Bureau. The Deputy Spokesperson stressed that this amount is separated from an earlier approved budget of 500 billion baht set for the 2011/2012 and 2012/2013 seasons.

Mr. Pakdeharn stated that eligible farmers must possess certified mortgage registration document for the second batch of the 2012/2013 pledging season and must be farmers who could not harvest their crops before the September 15 deadline.

He explained that the move is a show of responsibilities by the government which had earlier asked farmers to delay their cultivation in order to release lesser irrigation water into the system.

Nonetheless, qualified farmers who wish to join this special round of rice mortgage scheme, must register for the program again with the ministry. By doing so their crops would be permitted to be pledged at 2,121 baht per ton. Mr. Pakdeharn further stated that no more than 33 tons can be claimed for assistance by each farmer, the same regulation being applied for flood-affected rice growers.


-- NNT 2013-10-30

[gl555]

Wonderful! More money into the money pit and more money into the pockets of the friends of the PTP!

[JoeThePoster]

1.9 billion baht fund \ 899,000 tons

I could be wrong, but doesn't that work out to just over 2 baht per kilo?

[monkeycountry]

Must be nice to be a rice farmer. Elsewhere in Thailand rubber farmers are fighting hard to get small subsidies from the PTP, while the PTP happily throws money at the rice farmers left and right, even without anyone protesting. If I was a rubber farmer, I would change my t-shirt

[MadMac]

Good we Farangs start to pay the new arrival tax soon, so this hole can be plugged immediately. If it would not just be so obvious...

[FarangTalk]

Meanwhile Bloomberg optimistically reports "Thailand’s Rural Boom Yields Mercedes and $6,000 Jacuzzis"

http://www.bloomberg.com/news/2013-10-28/thailand-s-rural-boom-yields-mercedes-and-6-000-jacuzzis.html

[NongKhaiKid]

Hmmm, only a couple of days ago an official was saying that another B10 Billion would be needed for flood defence improvements.

If that amount is realised I think we can guess what some of it is earmarked for.

[apetley]

1.9 billion baht fund \ 899,000 tons

I could be wrong, but doesn't that work out to just over 2 baht per kilo?

It does.....farmers are gonna be pissed.

[A1Str8]

That's a good story. Sometimes when I watch the news, I feel like I am in the middle of a f...ing cartoon. All these transparent lies just to steal more money. Let me know when they are going inject some money to areas that need it. Like poor regions, like people who struggle to survive..inject them girls.

[Robby nz]

He said that the Bank for Agriculture and Agricultural Cooperatives has been assigned to request necessary funding from the Budget Bureau. The Deputy Spokesperson stressed that this amount is separated from an earlier approved budget of 500 billion baht set for the 2011/2012 and 2012/2013 seasons.

The BAAC must indeed now be scraping the bottom for :

21.10 The Bank for Agriculture and Agricultural Cooperatives (BAAC) will borrow 140 billion baht with the Finance Ministry's guarantee to fund the 270-billion-baht budget set for the government's rice-pledging.

And now they have to provide another 1.9 billion.

[chainarong]

Throwing good money after bad is the phrase that comes to mind for this effort, the PTP must now realize that every man and he's dog now wants to have a share in the national coffers , I am unsure whether this would lead to more votes or more discontent,but this is the end result at vote buying, rigging the system to your advantage comes at a price. Enjoy.

[LuckyLew]

More money to make the red shirt farmers happy so they will forget about the "bring the felon home" bill ...

[ginjag]

More money to make the red shirt farmers happy so they will forget about the "bring the felon home" bill ...

Thailands treasury song,

There goes my everything---Engleberts hit.

[ratcatcher]

1.9 billion baht fund \ 899,000 tons

I could be wrong, but doesn't that work out to just over 2 baht per kilo?

It does.....farmers are gonna be pissed.

"farmers are gonna be pissed."

They usually are.........on Lao Khao.

[nong38]

I read the other day that the Government will not pay the rubber growers what they are asking for in support because "it would distort the market price" and yet they presumably dont see that in the rice price pledging scheme, amazing or amusing?

The top man at CP foods says the rice crop should be cut to a third or by a third cant remember which, which seems a sensible idea, this scheme is a bottomless pit, the big question is who is it sustaining, who is at the bottom of the pit? Why can no one grasp the nettle and sort out this abuse of the country's money?

[Sunisalom]

Thailand is going to be bankrupt in a big way after the fall of the PTP Government. Raped in the dark.

Greece, then Italy, and soon following Spain, and maybe Ireland.... may all be totally dependent on Germany and France in the EU financial support, bailing out, and being in debt for many years to come.

After the demise of the PTP, and who knows when?, Singapore and Malaysia will be lending money to Thailand to keep it afloat.

Thailand will be the Greece of the ASEAN agreement, if this crowd keep spending the empty coffers.

K. Sunisa.

[Lobo4819]

Ice water into the Titanic.

[waza]

Deputy Spokesperson of the Prime Minister's Office Pakdeharn Himathongkham revealed the cabinet has approved a 1.9 billion baht fund for the rice mortgage scheme,

That should pay the redshirts electricity bill

[GeorgeO]

Good we Farangs start to pay the new arrival tax soon, so this hole can be plugged immediately. If it would not just be so obvious...

That was to have been a departure tax increase, but it seems that the Transport Ministry is now opposing the proposed increase...

[GeorgeO]

Thailand is going to be bankrupt in a big way after the fall of the PTP Government. Raped in the dark.

Greece, then Italy, and soon following Spain, and maybe Ireland.... may all be totally dependent on Germany and France in the EU financial support, bailing out, and being in debt for many years to come.

After the demise of the PTP, and who knows when?, Singapore and Malaysia will be lending money to Thailand to keep it afloat.

Thailand will be the Greece of the ASEAN agreement, if this crowd keep spending the empty coffers.

K. Sunisa.

We won't know by how much until after this government falls, but I'm betting that the actual losses that this government's populist policies have cost the country are going be far far more than we are being led to believe.

I also predict that there will be numerous cases of criminal charges and lawsuits against various party and government members when the incoming government starts auditing all of the past projects...

[Local Drunk]

1.9 billion baht fund \ 899,000 tons

I could be wrong, but doesn't that work out to just over 2 baht per kilo?

It does.....farmers are gonna be pissed.

"farmers are gonna be pissed."

They usually are.........on Lao Khao.

+1 For the farmers...

[rubl]

"their crops would be permitted to be pledged at 2,121 baht per ton"

Must be paddy of a 'slightly' lower quality if they're not getting the 'normal' 15,000 per ton.

Well at least these 899,000 tonnes might give us about 450,000 tonnes after milling and with what the government paid we might finally have a lot which can be sold at a profit