Thai govt mortgaged rice to be sold 'by Jan-Feb'

[webfact]

Govt Mortgaged Rice To Be Sold 'By Jan-Feb'

By Khaosod English



BANGKOK: -- The Thai government is planning to auction off its mortgaged rice by late January and early February, officials said.

Under the general auction programme, the Department of Foreign Trade (DFT) is reportedly expecting to release at least 500,000 - 1,000,000 tonnes of rice by the end of this year.

According to DFT officials, the government has been forced to rely on auction instead of selling the mortgaged rice under Government to Government (G2G) agreement , after the National Anti-Corruption Commission (NACC) ruled that the DFT′s involvement in the G2G agreement lacks adequate transparency.

Officials insisted that they will carefully restrict the quantity of rice selling in each auction, as it may affect the future market price for the goods.

They also stressed that the DFT is ready to testify to the NACC regarding the investigation into the G2G scheme.

The NACC has previously expressed its suspicion that the G2G scheme is selling Thai rice to non-existent state-owned enterprises in China, but officials interviewed by Khaosod insisted that the agreement is legitimate, explaining that each province in China has the ability to form its own state-owned enterprise and engage in international trading on its own.

The debate is in fact centering around NACC′s definition of state-owned enterprise, one official said, since NACC might define it strictly as a federal level, while DFT also defines it as regional level.

Meanwhile, Ms. Korbsook Iamsuri, President of the Thai Rice Exporters Association (TREA), agreed that the government should release the rice under the general auction method, but she cautioned that auction must be conducted under strict transparency.

She noted that the price rate of Thai rice in global market remains unchanged at approximately 400 USD per tonne, and is currently competing with Vietnamese rice.

However, Ms. Korbsook stated that the general auction, which will be joined by private companies, may also propose a difficulty to the competitiveness of Thai rice in global market. Recently, many buyers turned to other competitors, so the Thai distributors must actively improve their marketing plans to increase the popularity of Thai rice again, said Ms. Korbsook.

The government should also use other methods, for example, matching the export distributor with individual rice mills, suggested the President of the TREA.

"But I am not sure whether the laws would allow the caretaker government to do that," Ms. Korbsook said.

Source: http://www.khaosod.co.th/en/view_newsonline.php?newsid=TVRNNU1EazROVGt5TUE9PQ==


-- Khaosod English 2014-01-29

[bigbamboo]

I won't believe this until I hear it from Kittikat himself.

[MunterHunter]

Good Luck with that...

[Stradavarius37]

Cough cough *bullsh#t* cough cough

[haroldc]

[blackman]

they better be quick on a few counts

its now january 29

also they will need to get rid of it before somebody in the new government does a stocktake

[Huk]

Hmm, it is Jan 29th. They better get their finger out if they want to make that 'late January' bit happen.

[Costas2008]

Wonder where are they going to find the buyers and at what price?

[Habs]

--------------------- ---------------------------so sorry ------------------ well maybe March- April- Oct-- Nov---- -------

[pipkins]

So region level Gov entities.

That is a long long way from non-existant agencies.

Also, the blocking of the sale is... guess what... affecting sales. Transparancy my ass, it is only in motion to try and make trouble for the Government by peddling lies to re-ignite the failed coup.

[ManopY]

Finally!

Why they did not try that earlier!

The rice farmers have been postponed them payment 7 times!!! And still NOTHING!

[noikrit]

I think the THAI people deserve a full open book and transparent stock take and costings on this whole Rice Scam ..... If the Shin Government have nothing to hide .... Then come forward and produce the books .... For the Farmers , the Voters and the Whole Thai Population !! ..... Is this not what true Democracy is about ?????

[rubl]

Well, with now being around 16:46 on a nice 29th of January the government should really get going if they want to get something done in 'late January'

[JoeThePoster]

planning to auction off

I'm not buying it.

[Mosha]

Beware of low flying red pigs.

[Scamper]

Rice scheme caper # 47 - misrepresenting the facts and being dishonest at any and all times.

" She noted that the price rate of Thai rice in global market remains unchanged at approximately 400 USD per tonne, and is currently competing with Vietnamese rice. "

For the last two months, Vietnamese rice has been priced at between $ 245 USD and $ 260 USD per tonne. Thai rice - on the other hand - at " approximately " $ 400 USD - is ,one presumes, priced for shipment to Pluto, to cover the cost of the long journey.

This Khaosod article is something else. The Pheu Thai officials they interview strenuously and incredulously maintain - after all the evidence that is considered so damning it's led to impeachment proceedings against Yingluck by the NACC - that there is indeed a China sale - that these companies within China are so independent that they can cut a deal with Thailand without even China knowing about it. But then there are all those massive stores of unsold rice that have piled up over the years, which now apparently are going to be " auctioned off " to excited buyers, looking forward to inspect the contents for bugs.

[Spartakos]

On what grounds do you put in question the honesty of what is said by the government? It's not like the set a precedent by lying to make themselfs look good in the past.

[Tatsujin]

Just burn it and claim the insurance. Make more money that way.

[Tatsujin]

On what grounds do you put in question the honesty of what is said by the government?

You're being sarcastic, right?

[drand11]

Who cares who buys it from China? Get rid of it ASAP before it spoils! Thai govt in its own way.

[drand11]

Who cares who buys it from China? Get rid of it ASAP before it spoils! Thai govt in its own way.

[Crushdepth]

On what grounds do you put in question the honesty of what is said by the government?

You're being sarcastic, right?

[oldthaihand99]

Just burn it and claim the insurance. Make more money that way.

Build rice condos in Alaska, sell & re mort-gage.

[JesseFrank]

Good Luck with that...

Guess that's a picture of the fried rice auction ?

[Misterwhisper]

Just in case they haven't noticed: It already IS late January!

So, how many shipments have left Thailand so far?

[Tatsujin]

Wait, wait, we're all reading this wrong:

The Thai government is planning to auction off its mortgaged rice by late January and early February.

Under the general auction programme, the Department of Foreign Trade (DFT) is reportedly expecting to release at least 500,000 - 1,000,000 tonnes of rice by the end of this year.

So, what they're actually saying is January/February next year!

[djjamie]

They should have said "we promise" at the start. We all know how a PTP promise is adhered to.

[lungmi]

Beware of low flying red pigs.

Beware of high speed flying red pigs.

[Robby nz]

Does this mean the farmers are going to have to wait another year for their money ?

Meanwhile Thida is pissing the farmers off some more :

RT @veen_NT: Leader of farmers in the North Kittisak: We heard Thida (UDD leader) calling us fake farmers but we didn't take any notice. It's a joke.

[thesetat2013]

It will never happen. Complete strict transparency would show exactly how much rice is missing from their stockpile.

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