Angry rice farmers to demand their rice back as Thai govt defaults on payments

[mikemac]

Seems like PTP has done to the Thai rice industry what the boll weevil did to the cotton industry in the USA, in a lot less time !

[GeorgeO]

They might not like what they get back,

I was thinking exactly the same ... that would give them the ideal opportunity to dispose of the stinking rotting mass from the centre of the stockpiles...!

[GeorgeO]

...and still the caretaker Finance Minister talks about using funds from the Bank for Agriculture and Agricultural Cooperatives (BAAC), such as its crucial liquidity fund, having already been told that these funds must not be used for such purposes.

The actions of these PTP miscreants could have the knock-on effect of bringing down the BAAC, and what effect might that have on other banks in Thailand?

[northernjohn]

He insisted that every baht spent on the scheme had gone into farmers' hands through the Bank for Agriculture and Agricultural Cooperatives (BAAC).

MR. White lies in action again!

I really liked this it pretty well lays out their discrepancy in financial management.

 
buying rice for four seasons and paying out a total of Bt680 
billion.He insisted that every baht spent on the scheme had gone into 
farmers' hands through the Bank for Agriculture and Agricultural Cooperatives 
(BAAC). The government has also released rice from its stockpiles and earned 
Bt200 billion from its sale. "The government will continue selling rice," 
Kittiratt said, adding that it would also secure funding, be it from the state 
budget, BAAC's liquidity or loans, to pay the farmers.

480 billion baht loss.

They also say they are going to continue with the scheme (personally I think it is a scam but I don't want to make accusations) even though they don't know where they are going to get the money to pay for it. I noticed in the article some of them have been waiting since October for their money.

Suppose the farmers take their rice back and sell it them selves what is going to happen to the rice the government is currently holding that is going bad. Will the government give us a list of who owns these warehouses that are getting paid every month to just hold the rice? I would bet it would include many people associated with politicians. I would also venture to say the rents were paid every month on time.

[GentlemanJim]

Seems like PTP has done to the Thai rice industry what the boll weevil did to the cotton industry in the USA, in a lot less time ! alt=thumbsup.gif pagespeed_url_hash=1443177670 width=25 height=19>

I was thinking a similar thing but comparing it to the effect Gerald Ratner had on his families very successful chain of jewelry stores, from hero to zero in one minute! The PTP have taken slightly longer but the devastation to the Thai rice industry has been just as comprehensive.

[wprime]

Hmm, only one of the protesting provinces supports PTP, the government is very choosy about who they rob.

[Bakseeda]

And , does anyone in Thailand know where our wonderful Yinluck is hiding..? Seems she has not been seen for a while and does not answer her phone..? Hmmmm Perhaps she is cooking up some rice scam...

[harber8]

I don't think you want that rice back guys.

A bit mouldy and full of a rice preserving chemicals.

[Evolare]

Do the words liar and thief mean anything.

Suthep

The rice scam problems have bugger all to do with Suthep.

How does Suthep have anything to do with the Rice Scam nor the Rubber Scams as they are initiatives from the ShinParty im sorry the PTP. btw what ever happend with those PTP members that imported cambodian rice selling it through the PTP Government Rice Scam...did they ever get convicted?

I think Yingluck have to stock up on Crocodile tears now...she is loosing Isaan farmers as most of they are asking for their money or rice back. who will she blame for this she is on the Board of Directors for the Rice Scam.

[jonesthebaker]

Do the words liar and thief mean anything.

Suthep

it was the current regime not Suthep that enacted the scheme. are you so dim?

[jonesthebaker]

He insisted that every baht spent on the scheme had gone into farmers' hands through the Bank for Agriculture and Agricultural Cooperatives (BAAC).

MR. White lies in action again!

I really liked this it pretty well lays out their discrepancy in financial management.

 
buying rice for four seasons and paying out a total of Bt680 
billion.He insisted that every baht spent on the scheme had gone into 
farmers' hands through the Bank for Agriculture and Agricultural Cooperatives 
(BAAC). The government has also released rice from its stockpiles and earned 
Bt200 billion from its sale. "The government will continue selling rice," 
Kittiratt said, adding that it would also secure funding, be it from the state 
budget, BAAC's liquidity or loans, to pay the farmers.

480 billion baht loss.

They also say they are going to continue with the scheme (personally I think it is a scam but I don't want to make accusations) even though they don't know where they are going to get the money to pay for it. I noticed in the article some of them have been waiting since October for their money.

Suppose the farmers take their rice back and sell it them selves what is going to happen to the rice the government is currently holding that is going bad. Will the government give us a list of who owns these warehouses that are getting paid every month to just hold the rice? I would bet it would include many people associated with politicians. I would also venture to say the rents were paid every month on time.

simply put: the 200 billion they have raised from the sale may well have been paid out. but they owe another 480 billion to farmers and they havent go the money. simple really.

[northernjohn]

And , does anyone in Thailand know where our wonderful Yinluck is hiding..? Seems she has not been seen for a while and does not answer her phone..? Hmmmm Perhaps she is cooking up some rice scam...

Well she has millions of tons of rice she can cook up.

[northernjohn]

He insisted that every baht spent on the scheme had gone into farmers' hands through the Bank for Agriculture and Agricultural Cooperatives (BAAC).

MR. White lies in action again!

I really liked this it pretty well lays out their discrepancy in financial management.

 
buying rice for four seasons and paying out a total of Bt680 
billion.He insisted that every baht spent on the scheme had gone into 
farmers' hands through the Bank for Agriculture and Agricultural Cooperatives 
(BAAC). The government has also released rice from its stockpiles and earned 
Bt200 billion from its sale. "The government will continue selling rice," 
Kittiratt said, adding that it would also secure funding, be it from the state 
budget, BAAC's liquidity or loans, to pay the farmers.

480 billion baht loss.

They also say they are going to continue with the scheme (personally I think it is a scam but I don't want to make accusations) even though they don't know where they are going to get the money to pay for it. I noticed in the article some of them have been waiting since October for their money.

Suppose the farmers take their rice back and sell it them selves what is going to happen to the rice the government is currently holding that is going bad. Will the government give us a list of who owns these warehouses that are getting paid every month to just hold the rice? I would bet it would include many people associated with politicians. I would also venture to say the rents were paid every month on time.

simply put: the 200 billion they have raised from the sale may well have been paid out. but they owe another 480 billion to farmers and they havent go the money. simple really.

Sad to

[webfact]

More farmers press for payment for their rice
By Digital Content



KANCHANABURI, Jan 18 – Farmers in Thailand’s western provinces have joined their fellow growers countrywide to pressure the government to pay for the rice they sold under the state subsidy scheme.

Prasit Boonchoey, leader of the Thai Rice Farmers Association, said farmers have set Jan 25 as the deadline for the government to settle debts after they delivered rice from the 2013/2014 crop but have not yet been paid.

They threatened to stage a protest if payments were not made and called on the Commerce Ministry to urgently release rice in its stocks in exchange for money.

Mr Prasit said farmers from western rice-planting provinces who met yesterday urged the government to stop the rice pledging programme to pave the way for free trade and preparations to enter the Southeast Asian rice trading system.

Farmers in the northeastern province of Buri Ram rallied at the provincial hall yesterday to ask for payment for their rice which has been delayed for several months.

They later blocked Highway 226 which connects Buri Ram and Surin and vowed to continue their rally unless they received a reply from the government regarding payment.

Police and volunteers strictly guarded the entrances to the provincial government complex to prevent farmers’ intrusion.

Somboon Klanprakone, 46, a farmer's representative, said farmers have been in financial trouble since they were not paid for the rice they have sold.

Many of them have been forced to borrow from loan sharks to cover expenses and make payments to the Bank of Agriculture and Agricultural Cooperatives, he said. (MCOT online news)


-- TNA 2014-01-18

[metisdead]

A profane post has been removed.

[jaidam]

It might not be a popular idea among the cult followers, but to seize all bank accounts and assets of the clan and members of the corrupt elite aka PTP, and distribute the confiscated wealth to the waiting rice farmers could be a solution. Although repatriating funds from the British Virgin islands could prove challenging, the real estate portfolios and bank accounts in Thailand should provide enough liquidity to fully compensate the ripped-off farmers.

[khwaibah]

Whats 100% of nothing?

[louse1953]

Play time over?

Chickens come home!

[kerrysum]

Think the culture has been lost....... When you trust the Government to store rice?

The old ways back in the day, they stored their own rice..... We always had to clean the storage areas each year, seal them off from pests... WE traded tit for tat with the locals, and yes it was a sense of community... Perhaps votes were bought with this scheme, but the story remains the same... No money for the crop..... Been there and observed it, take care of your own, and never believe a politician.... This will affect many of the farmers for many years to come..... And if you think rice is rotting in Thailand? You ought to see it here in the United States, not a whole lot of imports going on in my neck of the woods...... the people are simply not paying the price...... We know the new crop and the old crop, and this is affecting the merchants here in the United States, the shelves are bare....... the stores are suffering thanks to this Rice Scheme........

Just my opinion...... kilosierra

[whiteman]

She will blame the fharlang devels for all the government troubles

Do the words liar and thief mean anything.

Suthep

The rice scam problems have bugger all to do with Suthep.

How does Suthep have anything to do with the Rice Scam nor the Rubber Scams as they are initiatives from the ShinParty im sorry the PTP. btw what ever happend with those PTP members that imported cambodian rice selling it through the PTP Government Rice Scam...did they ever get convicted?

I think Yingluck have to stock up on Crocodile tears now...she is loosing Isaan farmers as most of they are asking for their money or rice back. who will she blame for this she is on the Board of Directors for the Rice Scam.

Edited January 18, 2014 by whiteman

[Baerboxer]

Do the words liar and thief mean anything.

Suthep

Or the scheme's originator, strategic thinker and desert based caddy. Amazing this scheme seems to show a loss of 480 billion baht, and now severe cash flow issues, with unaccounted and unsaleable inventories yet to be declared, while the genius behind the scheme has seen his personal wealth balloon up!

[Baerboxer]

He insisted that every baht spent on the scheme had gone into farmers' hands through the Bank for Agriculture and Agricultural Cooperatives (BAAC).

MR. White lies in action again!

Amazing - suddenly he knows the figures and can account for where the money went, right down to the last baht! Great improvement in accounting transparency.

In that case should be very easy for Khun Kittirat to prove his statement. Hope the boys at NACC have seen this. Will be helpful in their probings.

[poisonus]

Farmers in several other provinces are also planning to stage roadblocks in their hometowns and join the anti-government rallies in Bangkok if payments are delayed further.

Note to Yingluck...

Now that is what you call 'reconciliation'.

[oldthaihand99]

"Angry rice farmers to demand their rice back as Thai govt defaults on payments"

Hopefully it has rotted away & they can switch to growing brown or WW. The usual is murder on my BMs.

[NeverSure]

Think the culture has been lost....... When you trust the Government to store rice?

The old ways back in the day, they stored their own rice..... We always had to clean the storage areas each year, seal them off from pests... WE traded tit for tat with the locals, and yes it was a sense of community... Perhaps votes were bought with this scheme, but the story remains the same... No money for the crop..... Been there and observed it, take care of your own, and never believe a politician.... This will affect many of the farmers for many years to come..... And if you think rice is rotting in Thailand? You ought to see it here in the United States, not a whole lot of imports going on in my neck of the woods...... the people are simply not paying the price...... We know the new crop and the old crop, and this is affecting the merchants here in the United States, the shelves are bare....... the stores are suffering thanks to this Rice Scheme........

Just my opinion...... kilosierra

People in the US consume only about 8% per capita as much rice as Asian countries do. It's just not as popular. Link

Yet the US produces about as much rice as it uses. It just doesn't produce the varieties that are produced in certain areas of Asia. Link

The US could produce a lot more rice if there was demand for it.

But right now the shelves in the US are mostly bare of Thai rice. It wasn't that long ago that there was an article in the news right on this site saying that the US had rejected a big shipment of Thai rice due to lack of quality. It couldn't pass government safety and quality standards.

Thailand has shot itself in the foot. Never mind the BS coming out of the government.

Edited January 18, 2014 by NeverSure

[LevelHead]

Farmers in several other provinces are also planning to stage roadblocks in their hometowns and join the anti-government rallies in Bangkok if payments are delayed further.

Note to Yingluck...

Now that is what you call 'reconciliation'.

Let me guess, another story by "un-named" sources written in the Thai media which is intent on making up the most outrageous fantasy stories that suit their own agenda.

Farmers want payment soonest.

IF election is held and new government they will get paid quickly.

IF PDRC takes over they will not get paid for years perhaps.

IF no election and reform then they will not get paid for years perhaps.

So are you telling me the farmers are going to protest against an election which would allow a new government and them to be paid ? If they want payment, then need an election to be sorted out quickly, so they will be only protesting against their not getting paid, thanks to Suthep and the EC not allowing the caretaker government to raise funds to pay them.

In my opinion.

[Scamper]

"If the government fails to meet this deadline, the farmers will close down roads in their provinces and will also join the People's Democratic Reform Committee [PDRC] rallies in Bangkok," he said. "

" In Buri Ram, a group of rice farmers joined PDRC supporters who were protesting in front of the provincial hall, saying they were angry about the delay in payment for their pledged rice. "

What is so remarkable about this situation is that a core of the Pheu Thai base, assumed to be secure and unquestioned for generations, is now crumbling in a matter of days.

[retsdon]

All this goes to illustrate just how lazy and feckless the DP are. PTPs own supporters are marching in protest at the venal incompetence of this government and what are the DP doing? Instead of fighting an election that with a half-decent campaign is theirs for the taking, they're backing a campaign to effectively disenfranchise the voting population. In effect, they're saying that anyone who wants to protect their right to vote MUST support the government, whether they want to or not. Pathetic is the only word for Abhisit and Co.

[HOOD Robin]

Since most of those farmers are from the (lower) north and Isaan, i assume that most of them have always been red Toxin supporters. If so, WHEN their eyes are gonna OPEN and turn their backs on him and little sista ???

[JRSoul]

All this goes to illustrate just how lazy and feckless the DP are. PTPs own supporters are marching in protest at the venal incompetence of this government and what are the DP doing? Instead of fighting an election that with a half-decent campaign is theirs for the taking, they're backing a campaign to effectively disenfranchise the voting population. In effect, they're saying that anyone who wants to protect their right to vote MUST support the government, whether they want to or not. Pathetic is the only word for Abhisit and Co.

There are 22 electorates with only one candidate, every other electorate has at least 2, but because the DP has not fielded a candidate, people MUST vote PTP??? I can only assume that you are american and unfamiliar with the concept of multi-party democracy where there are multiple choices including "none of the above".