Thai Commerce Min in talks with many countries to sell rice

[webfact]

Commerce Min in talks to sell rice

BANGKOK, 6 December 2013 (NNT) - Thailand has been in talks with many countries to sell rice in its stockpile, and the deal might be concluded within this year, according to the Ministry of Commerce

According to the Commerce minister, Niwatthamrong Boonsongpaisarn, Thailand has been in talks with the government of the Philippines and Indonesia, both of which will likely be concluded by the end of this year.

Although the Thai government has as much as16 million tons of rice sitting in warehouses nationwide, only a small amount of rice need to be sold, Niwatthamrong said.

Half of the stockpiled rice, or eight million tons, has been committed to other governments, while another five million tons are from the latest rice buying scheme, which requires farmers to send only rice to the government; rice bran and broken milled rice are excluded. Therefore, the real amount is much more lower than the registered figure.

Meanwhile, foreign trade department's director-general Surasak Riangkreau said there was a high possibility that Thailand would sell rice to Indonesia because the country was in demand of as much as 600,000 tons of rice. Thailand is also in talks to sell 250,000 tons of rice to Iran.

-- NNT 2013-12-06

[jaidam]

"only a small amount of rice need to be sold" Niwatthamrong said.

One of the funniest things I have ever read about the rice scam. Khun Niwatthamrong, you my friend are a comic genius!

[TVGerry]

And how much are you selling the rice for? How big a loss and how much will this cost us taxpayers?

[PeterSmiles]

Thailand has been in talks with many countries to sell rice in its stockpile, and the deal might be concluded within this year, according to the Ministry of Commerce

I have been in talks with many people to sell my house, and the deal might be concluded within this year, or maybe next year or the year thereafter or maybe never.

[JoeThePoster]

I saw a streetwalker talking to a Benz driver on Withayu. Expect marriage announcement soon.

[ratcatcher]

And how much are you selling the rice for? How big a loss and how much will this cost us taxpayers?

We will never know.

That is why there are protesters on the streets. This government is as rotten as the rice in the sacks they've had for the last two years and can't sell.

Lies, obfuscation, cheating, done by experts.

[h90]

"only a small amount of rice need to be sold" Niwatthamrong said.

One of the funniest things I have ever read about the rice scam. Khun Niwatthamrong, you my friend are a comic genius!

no that is right.....all the other rice can be only destroyed as it is rotten already. So only a small amount of rice need (can be) to be sold

[ChrisY1]

Ah yes.....here we go again.....the Commerce minister excercising his negotiating skills with many nations to sell ONLY 16 millions tons of crook rice......good luck with that!

16 million tons now.....they're going so well!

[NongKhaiKid]

"only a small amount of rice need to be sold" Niwatthamrong said.

One of the funniest things I have ever read about the rice scam. Khun Niwatthamrong, you my friend are a comic genius!

Thailand, the hub of comic genius'. Ministry of Commerce " we are selllng rice to everyone " and TAT " the world is flocking here. "

[Local Drunk]

Show us the paperwork?

[Nickymaster]

Somebody must be lying.......

Thailand, once the world’s biggest rice exporter, will see a 17 percent jump in stockpiles to a record next year as it pursues a policy of buying from farmers at above market rates, said the Food & Agriculture Organization.

The government stepped up efforts since July to dispose of inventories even at a loss to free storage space and raise funds, the United Nations agency said in its quarterly report on the global market. The reserves, described as “huge,” will still climb to 20.4 million metric tons next year even as exports rebound 26 percent to 8.5 million tons, said the FAO.

Prime Minister Yingluck Shinawatra’s administration, which fended off violent demonstrations across Bangkok this week by protesters seeking her removal, started its rice-buying program in 2011. The $21 billion policy, designed to boost rural incomes, spurred the buildup of record stockpiles as output rose and exports fell. The International Monetary Fund said last month the program should be replaced, warning that left unchanged it would hurt confidence in public finances.

http://www.businessweek.com/news/2013-12-04/thailand-faces-pressure-from-state-rice-buying-program-fao-says

Edited December 6, 2013 by Nickymaster

[NongKhaiKid]

Show us the paperwork?

We can'r chant " show us the money " because it's already ' disappeared '.

[fakename]

Just give every visitor 5kg of rice on arrival, and a rice cooker, that will help get rid of a little bit.

[Local Drunk]

Show us the paperwork?

We can'r chant " show us the money " because it's already ' disappeared '.

Like!

[kerrysum]

I see many people pulling out of this market...... And in fact all of the markets, in Thailand.... It is not the hard working Thai citizenry, it is the corruption.... It seems to repeat itself through history... Times have changed over the years, yes we stored rice for the next season, took care of crops, kept some rice for the next season, just in case.... But one thing I do know????? You can never sell rotten rice.......

A slap in the face of hard working farmers, hold on to your land, go back to the old ways, damn, it sure worked good back then........

kilosierra

[backtonormal]

Before the rice pledging Thailands rice exporters always manage to sell the rice produced in this country...so why cant the government. Granted money will be lost and nobody knows for sure how much. For this loss it is only right to consider the upside of this pledging. Traditionally poor people farm the rice and the extra cash will enable them to spend more. Spending more creates taxes into the government coffers. Very simplistic but are the losses truly as huge as some keep quoting on here.

The real losers are the private rice exporters who previously made millions of dollars annually in profit

[rogerdee123]

Before the rice pledging Thailands rice exporters always manage to sell the rice produced in this country...so why cant the government. Granted money will be lost and nobody knows for sure how much. For this loss it is only right to consider the upside of this pledging. Traditionally poor people farm the rice and the extra cash will enable them to spend more. Spending more creates taxes into the government coffers. Very simplistic but are the losses truly as huge as some keep quoting on here.

The real losers are the private rice exporters who previously made millions of dollars annually in profit

They probably can't sell it because they are asking for too much in kick-backs

[bigbamboo]

Anyone can sell rice. It's the price that's important.... and the government is very coy about letting the people know what that is.

Understandable, as they won't be too chuffed if it turns out the Indonesians or Filipinos are eating Thai rice at half the price they are paying for it.

[Pib]

Talk is cheap, but Thai rice is not. Plus, the rice is getting older everyday as it continues to pile up in the warehouses.

Thailand is really in a bad bargaining position...in fact, I don't think they have any bargaining power...buyers can pretty much offer a price and say take it or leave it Thailand as I got plenty of other countries I can buy from.

[Thai at Heart]

This is what the sales managers at Lehman brothers were coming up with.

[allan michaud]

Come on guys and gals, everything is just fine, he said that half (8mill) has already been sold...

[drdoom6996]

And how much are you selling the rice for? How big a loss and how much will this cost us taxpayers?

This is what they call transparent, no ones telling!!!!!!!!!!!!!!!!

[tingtongteesood]

More rubbish from the National Propaganda Bureau of Thaksin.....

[timoclark]

Except the farmers aren't even being paid, and most money from this is siphoned off by big rice millers and other politically connected individuals. Plus, the farmers are required to buy fertilizer from CP. Now you see who really benefits, and it's not the poor farmers, and it was never intended to be.

They cannot sell rotten rice, and much of the rice in govt. warehouses is rotten and vermin-infested, much like this government itself.

Before the rice pledging Thailands rice exporters always manage to sell the rice produced in this country...so why cant the government. Granted money will be lost and nobody knows for sure how much. For this loss it is only right to consider the upside of this pledging. Traditionally poor people farm the rice and the extra cash will enable them to spend more. Spending more creates taxes into the government coffers. Very simplistic but are the losses truly as huge as some keep quoting on here.

The real losers are the private rice exporters who previously made millions of dollars annually in profit

[timoclark]

LIKE!

More rubbish from the National Propaganda Bureau of Thaksin.....

[kannot]

Show us the paperwork?

Written on rice paper no doubt?

[remobb]

Give me a good price and I can sell the lot for them. When I ask a seller they say they are waiting for the next crop????

[NeverSure]

I can't even imagine how much 21 million tons would look like. Round that off to 2,000 pounds per ton and that's 40 billion pounds, or about 20 billion kilos. ??

Maybe my math is way off as I'm not used to that system of weights and measures, but I can't even fathom how they could store that much.

There's also a comment in there, "...the latest rice buying scheme, which requires farmers to send only rice to the government; rice bran and broken milled rice are excluded. Therefore, the real amount is much more lower than the registered figure."

So they are buying and registering bran and broken, but the farmers don't have to send it? What an opportunity for fraud if I read that right. ??

What a mess.

[Robby nz]

They have if I understand correctly put a limit on what each farmer (family) can sell to the Govt.

This means that as farmers have increased production to take advantage of the scheme that many now have surplus rice that the Govt does not buy.

This in turn means that the farmers now must sell that surplus on the open market.

Buyers know this and, from what I read, are taking advantage by offering farmers prices as low as 6,000 b per ton for their surplus rice.

Farmers cant keep it so have to sell.

This of course means that the buyers (traders) can get the rice they need directly from the farmers at a low price so don't need to buy from the Govt.

So by putting a limit on what they buy from farmers the Govt has provided itself with competition.

Little wonder they cant get bids in their auctions.

The chairperson of the rice policy committee must be real proud of that achievement.

Oh, but hang on, she has never been to a meeting so wouldn't know.

[Thai at Heart]

I can't even imagine how much 21 million tons would look like. Round that off to 2,000 pounds per ton and that's 40 billion pounds, or about 20 billion kilos. ??

Maybe my math is way off as I'm not used to that system of weights and measures, but I can't even fathom how they could store that much.

There's also a comment in there, "...the latest rice buying scheme, which requires farmers to send only rice to the government; rice bran and broken milled rice are excluded. Therefore, the real amount is much more lower than the registered figure."

So they are buying and registering bran and broken, but the farmers don't have to send it? What an opportunity for fraud if I read that right. ??

What a mess.

Where they manage to put it all god knows, but it surely wasn't intended to be sitting in thailand for years on end.