Thai govt urgently selling rice to fill state coffers

[pb1936]

There have been just too many confusing and contradictory government half-statements concerning the rice fiasco.

Not one of them is believable or worthy of discussion, IMO.

[marcusd]

What's the rush, I thought the 2 trillion "slush fund" had been approved by the red elite and senate. Everybody's pockets will be full to bursting so no need to fanny around making themselves look silly by trying to export spoiled overpriced grain, although reading about these invisible secret deals are always good for a chuckle.

Election money needed... to pay for votes to those who are NOW protesting but will soon re lect the same

[casindonet]

Sell...sell...sell....fill...fill...fill their pockets....before PTP is oust.

[slapout]

For all the pessimists I point out that Thailand is still the largest Rice Exporter in the word by tonnage, including this year, and will most likely be so in 2014. I suspect that this government is good for Thailand even though unpopular with the minority.

This has to rank right at the top for troll post of the year award. Not only from indyyuk, but banned and present members of Thai Visa.

If you are in a condition that you believe what you have written, I would strongly urge you to get immediate help from a eye/ear clinic, get off the multitude of substances you are abusing, find a dark corner/hole and reflect on the wayward ways, that would have brought this condition to this state.

[siampolee]

Thai govt urgently trying to sell rice to fill state coffers.

I think something may have been lost in the translation the headline should actually read

Thai government urgently trying to sell rice to fill states political coffins.

Many an M.P. from the P.T.P. along with their coalition buddies will soon be without gainful employment thus this urgent ''closing down everything must go fire sale.''

[Thait Spot]

For all the pessimists I point out that Thailand is still the largest Rice Exporter in the word by tonnage, including this year, and will most likely be so in 2014. I suspect that this government is good for Thailand even though unpopular with the minority.

Hahahaha!!!

That's beyond belief!!

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

[Dap]

What's the rush, I thought the 2 trillion "slush fund" had been approved by the red elite and senate. Everybody's pockets will be full to bursting so no need to fanny around making themselves look silly by trying to export spoiled overpriced grain, although reading about these invisible secret deals are always good for a chuckle.

Oh really! I think we are all getting very tired of negative comments. Why don't the doubtful crawl back under the slimy rock that they came out of.

I'm not tired of these "negative comments" at all Mampara. What I AM tired of though is the

constant lying of this government about how rosy the rice scheme is working out Of course

that is my opinion and you ... are certainly welcome to yours.

[Dap]

For all the pessimists I point out that Thailand is still the largest Rice Exporter in the word by tonnage, including this year, and will most likely be so in 2014. I suspect that this government is good for Thailand even though unpopular with the minority.

Unbelievable

[livingthedream]

I'm guessing the need to appease the unpaid farmers ( voters) is suddenly top of the list

[Thai at Heart]

Partially refill state coffers.

What a desperately misleading headline.

[JRSoul]

What annoys me (besides gullible idiots) is "the government’s rice release from its stockpiles" pretence that they are holding rice back from sale. In reality, any body offering anywhere near market price could buy as much rice as he could afford, with an elite card thrown in for free.

[tingtongteesood]

Hahahaha the censure debate has spurred the government to try and actually do something positive, shocking news indeed ! They are trying to minimize the damage now so that if there is some kind of real investigation in a few months they won't come off looking as bad as they do right now. MUCH too little and MUCH too late.

[Etherus]

Indexmundi now posts rice prices around $454 per tonne and it has only been at $600 a couple of times in the last 4 years. Perhaps they know something, but flooding the market is not the way to get the price up I would guess.

[Muhendis]

>>He predicted a rosy trend for Thai rice exports next year when at least eight million tonnes of rice, at a total value of US$4.4 billion, will be exported at an average price of US$600/tonne.

I'm predicting the above prediction won't be correct.

Yes but isn't that still above the quoted price for rice on the commodities market, Also below what they have paid for it?

Yes and Yes.

Desperation brought on by the results of the ill conceived rice subsidy scheme.

"Mr Surasak said the rice sales will enable the Commerce Ministry to pay Bt30 billion to the Bank of Agriculture and Agricultural Cooperatives in the final quarter of the year."

The money is needed to pay the rice farmers who are patiently waiting to be paid for the current crop.

[Frank James]

This forum has experts on every topic, giving away their valuable expertise for free. Today we hear from the farang rice export experts.

[klauskunkel]

Mr Surasak said the rice sales will enable the Commerce Ministry to pay Bt30 billion to the Bank of Agriculture and Agricultural Cooperatives in the final quarter of the year.

...what he was thinking, however, was: 15 billion to Yingluck and her cabinet, 10 billion to red MPs, leaves about 5 billion for us loyal civil servants...life's not bad...SELLLL, SELLLL, SELLLL!!!

[waza]

another publicity stunt designed to appease the protestors

[rubl]

While not being a 'rice export' expert, I do recognise manure when someone tries to spread it.

When you put all 'statements from the ministry of Commerce, Finance and Office of the PM next to each other they do conflict. Even a single Ministry manages to bring out statements conflicting with their own previous statements.

Mind you, the topic only seems to suggest 'urgently sell rice to fill state coffers'. With tax revenue increasing nicely one may wonder why the government needs to 'urgently' fill the state coffers.

This forum has experts on every topic, giving away their valuable expertise for free. Today we hear from the farang rice export experts.

[ratcatcher]

This forum has experts on every topic, giving away their valuable expertise for free. Today we hear from the farang rice export experts.

Including your red mate indyuk with a bizarre, (but understandable considering the source) claim about Thailand's rice exports.

I think, as you sarcastically remark, that a good few of these "farang experts" might well have a better grip of reality than Khun Kittirat & Khun Boonsong.

[Bagwan]

The headline is a little misleading.

Thai govt urgently trying to sell rice to fill state coffers.

Correction. The Government is selling rice to partially refill the coffers.

[Benmart]

What's the rush, I thought the 2 trillion "slush fund" had been approved by the red elite and senate. Everybody's pockets will be full to bursting so no need to fanny around making themselves look silly by trying to export spoiled overpriced grain, although reading about these invisible secret deals are always good for a chuckle.

Oh really! I think we are all getting very tired of negative comments. Why don't the doubtful crawl back under the slimy rock that they came out of.

I can't speak for the "We", but only for myself. Yes, it is a bit tiring. So tiring, that I will now log off. Farewell.

[Robby nz]

Last week the Govt put up 82 billion of bonds for tender.

This was part of the 140 billion that the BAAC was supposed borrow to go towards the 270 billion it will need to pay for next years crop.

The Govt managed to sell 37 billion of the 82 billion on offer at several points above market rate.

That 37 billion should go to the BAAC which will then be able to (partly) pay farmers for this years crop.

Just how much the BAAC sees of that 37 billion is anyones guess for there are bound to be "Expenses" removed before anything gets to the bank.

Even if the BAAC is able to pay off all the farmers for this seasons crop it will still be in a position where it has to borrow for next seasons crop.

And that doesn't take into account off seasons crops from places where farmers are getting 2 and sometimes 3 crops a year.

Given that the Govt could sell less than half of the bond issue at a higher than market rate, then it would seem unlikely they can borrow more unless they pay way over market rate.

Considering that the BoT has just dropped interest rates that would make Govt bonds even less attractive.

Proceeds from the urgent sale should be going to the bank but as we see it is said to be going to 'State coffers"

Whoever takes over after PT is ousted is going to have an unenviable job of trying to sort it all out.

[Ricardo]

What's the rush, I thought the 2 trillion "slush fund" had been approved by the red elite and senate. Everybody's pockets will be full to bursting so no need to fanny around making themselves look silly by trying to export spoiled overpriced grain, although reading about these invisible secret deals are always good for a chuckle.

Oh really! I think we are all getting very tired of negative comments. Why don't the doubtful crawl back under the slimy rock that they came out of.

"Why don't the doubtful crawl back under the slimy rock"

Dunno ... perhaps all the space is already occupied or reserved, for Red-Shirt leaders ?

The source of the problem isn't a surplus of doubting-Thomases, but the awful contradictions & half-truths & spin about this flop of a rice-scheme, being purveyed to the taxpayers by the various Ministers & lick-spittles.

[ggold]

>>He predicted a rosy trend for Thai rice exports next year when at least eight million tonnes of rice, at a total value of US$4.4 billion, will be exported at an average price of US$600/tonne.

I'm predicting the above prediction won't be correct.

Yes but isn't that still above the quoted price for rice on the commodities market, Also below what they have paid for it?

Yes and Yes.

Desperation brought on by the results of the ill conceived rice subsidy scheme.

"Mr Surasak said the rice sales will enable the Commerce Ministry to pay Bt30 billion to the Bank of Agriculture and Agricultural Cooperatives in the final quarter of the year."

The money is needed to pay the rice farmers who are patiently waiting to be paid for the current crop.

AH, they need to pay the farmers before calling a snap election! No money no vote!

[bigbamboo]

What's the matter with you all?

Just because everyone from the banks to the international economic institutions, to the financial experts, to foreign governments, to the ratings agencies and even TV posters believe this scheme is a disaster for Thailand it doesn't mean we should all feel so negatively about it.

I'm sure Khun Kittikat aka The Lying King, will bring us some more good news very soon!

[EyesWideOpen]

Wise heads have predicted the rice subsidy would end in a trail of tears, and it has. When this government topples, and it will,

there will be an investigation about where exactly the hundreds of billions of baht went to. I can hardly wait to see the results

of that investigation...... This last minute dumping must be part of a program to finish filling up the suitcases with money

before it all ends.

[AleG]

Wise heads have predicted the rice subsidy would end in a trail of tears, and it has. When this government topples, and it will,

there will be an investigation about where exactly the hundreds of billions of baht went to. I can hardly wait to see the results

of that investigation...... This last minute dumping must be part of a program to finish filling up the suitcases with money

before it all ends.

Lately I've been wondering if PTP actually wants to be removed forcibly, coup or whatnot, then sometime in the future they could turn around and claim that all the corruption unveiled after their removal is nothing but a politically motivated witch hunt... you know, same same as it happened after the 2006 coup.

[millwall_fan]

For all the pessimists I point out that Thailand is still the largest Rice Exporter in the word by tonnage, including this year, and will most likely be so in 2014. I suspect that this government is good for Thailand even though unpopular with the minority.

This has to rank right at the top for troll post of the year award. Not only from indyyuk, but banned and present members of Thai Visa.

If you are in a condition that you believe what you have written, I would strongly urge you to get immediate help from a eye/ear clinic, get off the multitude of substances you are abusing, find a dark corner/hole and reflect on the wayward ways, that would have brought this condition to this state.

This is not all a troll post- in fact you are guilty of trolling for suggesting that Indyyuk is a troll. Good job the rice scheme is in place because it has given the government a revenue stream whilst the neo-Nazi Suthep's friends occupy the finance ministry and try to paralyse the government.

[hellodolly]

What's the rush, I thought the 2 trillion "slush fund" had been approved by the red elite and senate. Everybody's pockets will be full to bursting so no need to fanny around making themselves look silly by trying to export spoiled overpriced grain, although reading about these invisible secret deals are always good for a chuckle.

I agree it was overpriced on the amount they paid for it.

But they are probably selling it well below that much. Notice how they don't give the figure on how much per ton they are getting.

[Thaddeus]

This forum has experts on every topic, giving away their valuable expertise for free. Today we hear from the farang rice export experts.

All advice given here is free, if at some time it proves to be wrong, you could be entitled to a refund.