Thai rice-plediging scheme: Farmers to be paid via issuance of public bonds

[tomyummer]

' Ongoing sales of rice ' so as usual with backs to the wall the government claims it's selling from the stockpiles.

No longer is it ' show us the money ' rather ' show us the contracts ' ( if they actually exist ).

Other countries now claiming Thailand is dumping rice on world market. Trying to involve WTO.

Funny thing is we all knew this was coming a year ago when Thailand priced its rice as a premium grain which no one else in the world gave a rat's ass to and the stock piles of rice piled up while dropping Thailand to number 3 in exports. This will definitely piss everyone off.

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[fullcave]

"I'll gladly repay you Tuesday, for a hamburger today".

[slapout]

The lack of oversight on intake of pledged rice, source, transport, storage, treatment, inventory, etc would indicate that there is virtually no control as to where the rice is, how its gone/disappeared, etc.

When the governor of a Provience is the one who reports suspected contaminated, stored rice to the authorities, it would not surprise me that foreign traders/countries would be the first to call public attention to Thai rice being dumped/sold in their market place.. Just the background and reputation of those who have been, are involved should have told even the most gulliable that the vault was and had been left open for total plunder.

[Old Man River]

Chada showing suthep how statesmen operate.

Vayupak fund, thought the government had no cash?

Vayupak Fund. Second largest shareholder in SC Bank, after CPB.

http://www.scb.co.th/en/about-scb/investor-relations/company-information/shareholder-structure

So, first from SCB's point of view and then from the institutional investors point of view, what is your take on this?

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I merely posted the information as it might be pertinent to the discussion on this thread. As for my take on the matter, I prefer to let those with more financial acumen make the comments.

"Rather to be thought a fool.... etc." Ya know the saying..

Yeh, know the saying. Too well.

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[Old Man River]

There is no Thai rice on the market so how can dumping occur? Meanwhile because of the lack of Thai rice on the international marketplace, rice prices are realizing all time highs benefiting countries like Mynamar. When Thai rice does get to the market, no doubt prices will fall but I don't think below reasonable and fair pricing levels. In other words, when Thai rice does get to the market in a "dribble out" strategy, it should realize substantial proceeds. Granted some people want to see Thailand fail on its sales so as to further disgrace the government but what then of the farmers? Is there no shame to which parties seek to interfer with the government rice sales and payments to farmers just to advance their own political agendas?

Wow, brilliant plan, sell the rice!, you should get in contact with the Commerce Ministry ASAP and share it with them.

Just to prove how much daylight there is between were you stand and reality:

"rice prices are realizing all time highs"

Go to this page and see the market prices for rice: Rice Monthly Price - US Dollars per Metric Ton

Month Price Change Jan 2009 615.25 - Feb 2009 634.00 3.05 % Mar 2009 625.25 -1.38 % Apr 2009 577.25 -7.68 % May 2009 540.75 -6.32 % Jun 2009 548.60 1.45 % Jul 2009 623.00 13.56 % Aug 2009 576.25 -7.50 % Sep 2009 593.67 3.02 % Oct 2009 566.25 -4.62 % Nov 2009 566.25 0.00 % Dec 2009 606.00 7.02 % Jan 2010 598.00 -1.32 % Feb 2010 584.75 -2.22 % Mar 2010 540.13 -7.63 % Apr 2010 502.23 -7.02 % May 2010 472.48 -5.92 % Jun 2010 458.55 -2.95 % Jul 2010 470.68 2.65 % Aug 2010 486.86 3.44 % Sep 2010 519.95 6.80 % Oct 2010 533.13 2.53 % Nov 2010 543.14 1.88 % Dec 2010 536.78 -1.17 % Jan 2011 528.38 -1.56 % Feb 2011 532.80 0.84 % Mar 2011 508.96 -4.47 % Apr 2011 500.57 -1.65 % May 2011 500.55 0.00 % Jun 2011 518.09 3.50 % Jul 2011 546.19 5.42 % Aug 2011 577.30 5.70 % Sep 2011 615.55 6.63 % Oct 2011 602.14 -2.18 % Nov 2011 609.09 1.15 % Dec 2011 580.91 -4.63 % Jan 2012 541.06 -6.86 % Feb 2012 547.48 1.19 % Mar 2012 577.05 5.40 % Apr 2012 585.95 1.54 % May 2012 612.43 4.52 % Jun 2012 606.14 -1.03 % Jul 2012 578.36 -4.58 % Aug 2012 582.87 0.78 % Sep 2012 590.50 1.31 % Oct 2012 584.74 -0.98 % Nov 2012 590.73 1.02 % Dec 2012 565.52 -4.27 % Jan 2013 573.39 1.39 % Feb 2013 574.07 0.12 % Mar 2013 564.52 -1.66 % Apr 2013 553.73 -1.91 % May 2013 552.09 -0.30 % Jun 2013 546.25 -1.06 % Jul 2013 538.26 -1.46 % Aug 2013 503.82 -6.40 % Sep 2013 470.00 -6.71 % Oct 2013 453.26 -3.56 % Nov 2013 448.81 -0.98 % Dec 2013 447.55 -0.28 %

Rice prices are the lowest (and dropping) since at least 2009, which is the exact opposite of your claim that "rice prices are realizing all time highs"

Good post. Saved me searching.

The other point to add is that if rice is being shipped out the back door to Indonesia and beyond then that will be another legal battle for the Rice Queen

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If you want to check mark to market prices:

http://oryza.com/

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From that link:

Thai 5% broken rice is today shown about $430 per ton, down about $10 per ton from a week and a month ago and down about $120 per ton from a year ago. - See more at: http://oryza.com/reports/oryza-wri/oryza-white-rice-index-%E2%80%93-global-weather-forecasters-monitor-signs-el-ni%C3%B1o-while#sthash.ML1M7ldw.dpuf

Thai 5% broken rice is today shown about $430 per ton, down about $10 per ton from a week and a month ago and down about $120 per ton from a year ago. - See more at: http://oryza.com/reports/oryza-wri/oryza-white-rice-index-%E2%80%93-global-weather-forecasters-monitor-signs-el-ni%C3%B1o-while#sthash.mstsDfKX.dpuf

Thai 5% broken rice is today shown about $430 per ton, down about $10 per ton from a week and a month ago and down about $120 per ton from a year ago.

Thai 5% broken rice is today shown about $430 per ton, down about $10 per ton from a week and a month ago and down about $120 per ton from a year ago. - See more at: http://oryza.com/reports/oryza-wri/oryza-white-rice-index-%E2%80%93-global-weather-forecasters-monitor-signs-el-ni%C3%B1o-while#sthash.mstsDfKX.dpuf

The Rice Scheme is not as much a "success" but rather more like a Phyrric Victory, minus the Victory part.

I agree. What remains to be seen is how the market reacts to potentially substandard quality. We already know how some buyers in Iraq have reacted.

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[khunken]

They are in a very deep hole. Kittirat spouting more lies about the protests being the cause and thinking that another bond sale (the last attempt failed) will do the trick. It's all smoke and mirrors.

Make promises that are just BS and get 'friends' to either intimidate the farmers or 'persuade' them not to come to Bangkok by some very murky (Banharn?) means.

They can't sell sufficient rice to make a dent in what's already owed because the WTO rules prevent dumping on world markets, G-to-G deals (when not just BS) are not on because other governments don't trust them and there is a limit on how much the local market can absorb.

All they can really do is sell small amounts of rice and use the proceeds to pay the most vocal of the indebted farmers. Intimidation will cover the rest.

[Ricardo]

"Ah, Mr Bonds, I've been expecting you !"

Or perhaps "You Can Trust Me, I'm a Thai caretaker-Finance Minister !"

And I suspect that the farmers will need to return, perhaps with a new leader, for another attempt to meet with the Peoples Princess Isarn Darling.

But will she be home, next time ?

This would make a wonderful soap-opera, were it not ordinary-peoples' real-lives in-play.

[aimbc]

It hurts that the farmers will get paid, doesn't it.

All this fake sympathy and understanding of their needs BS.

feel the pain boys, feel the pain.

No it hurts that the govt. Stole the money from the farmers. And now the criminal is tryng to steal more taxes to cover up their crime.

If you care so much for them, give all your money to the govt. So they can pay the farmers. It is what friends do for each other right? And the govt is your friend right? Or are you also fake with your sympathy.

Weak sauce man.

[fleeing]

I've said it before but I'll say it again.

The only way out of this mess is if all political parties, including the Democrats, can agree to guarantee re-payment of a loan by who ever forms the next government.

The (care)taker government is bound by the constitution not to take on any loans that will impede the next government, but mutual agreement by all political parties at this time would give the Constitutional Court the possibility of allowing such a loan, considering the pressing need of the empty-handed rice farmers.

But such a broad agreement would demand transparency both of how the payments are administered and how and why the rice scam scheme has come to cost so much with such disastrous results for the Thai rice industry. Until the (care)taker government is prepared to finally provide that transparency, the rice farmers will continue to be given empty promises and the Democrats can sit back and enjoy the sight of the sinking ship MS Shinawatra. But it would be a strategic move for the Democrats to publicly come out with such a proposal very soon, and be seen by the rice-farmers and the rest of Thailand as saving the day.

[473geo]

I've said it before but I'll say it again.

The only way out of this mess is if all political parties, including the Democrats, can agree to guarantee re-payment of a loan by who ever forms the next government.

The (care)taker government is bound by the constitution not to take on any loans that will impede the next government, but mutual agreement by all political parties at this time would give the Constitutional Court the possibility of allowing such a loan, considering the pressing need of the empty-handed rice farmers.

But such a broad agreement would demand transparency both of how the payments are administered and how and why the rice scam scheme has come to cost so much with such disastrous results for the Thai rice industry. Until the (care)taker government is prepared to finally provide that transparency, the rice farmers will continue to be given empty promises and the Democrats can sit back and enjoy the sight of the sinking ship MS Shinawatra. But it would be a strategic move for the Democrats to publicly come out with such a proposal very soon, and be seen by the rice-farmers and the rest of Thailand as saving the day.

Unforunately the Democrats are concentrating on repayment of the debt they incurred when accepting the 'appointed' government position........you know, the task they so spectacularly failed to complete for their backers....eradication of the opposition that continues to win elections!....indeed the A team managed to alienate the electorate further.......desperation to salvage some credibility with their backers in this situation has led to Suthep on the streets with a last desperate move to complete the allotted task or fade away!

Farmers used when required for publicity....to suit the peoples council agenda

[JRSoul]

I've said it before but I'll say it again.

The only way out of this mess is if all political parties, including the Democrats, can agree to guarantee re-payment of a loan by who ever forms the next government.

The (care)taker government is bound by the constitution not to take on any loans that will impede the next government, but mutual agreement by all political parties at this time would give the Constitutional Court the possibility of allowing such a loan, considering the pressing need of the empty-handed rice farmers.

But such a broad agreement would demand transparency both of how the payments are administered and how and why the rice scam scheme has come to cost so much with such disastrous results for the Thai rice industry. Until the (care)taker government is prepared to finally provide that transparency, the rice farmers will continue to be given empty promises and the Democrats can sit back and enjoy the sight of the sinking ship MS Shinawatra. But it would be a strategic move for the Democrats to publicly come out with such a proposal very soon, and be seen by the rice-farmers and the rest of Thailand as saving the day.

Unforunately the Democrats are concentrating on repayment of the debt they incurred when accepting the 'appointed' government position........you know, the task they so spectacularly failed to complete for their backers....eradication of the opposition that continues to win elections!....indeed the A team managed to alienate the electorate further.......desperation to salvage some credibility with their backers in this situation has led to Suthep on the streets with a last desperate move to complete the allotted task or fade away!

Farmers used when required for publicity....to suit the peoples council agenda

So we can safely assume your wife was paid for her rice?

[473geo]

I've said it before but I'll say it again.

The only way out of this mess is if all political parties, including the Democrats, can agree to guarantee re-payment of a loan by who ever forms the next government.

The (care)taker government is bound by the constitution not to take on any loans that will impede the next government, but mutual agreement by all political parties at this time would give the Constitutional Court the possibility of allowing such a loan, considering the pressing need of the empty-handed rice farmers.

But such a broad agreement would demand transparency both of how the payments are administered and how and why the rice scam scheme has come to cost so much with such disastrous results for the Thai rice industry. Until the (care)taker government is prepared to finally provide that transparency, the rice farmers will continue to be given empty promises and the Democrats can sit back and enjoy the sight of the sinking ship MS Shinawatra. But it would be a strategic move for the Democrats to publicly come out with such a proposal very soon, and be seen by the rice-farmers and the rest of Thailand as saving the day.

Unforunately the Democrats are concentrating on repayment of the debt they incurred when accepting the 'appointed' government position........you know, the task they so spectacularly failed to complete for their backers....eradication of the opposition that continues to win elections!....indeed the A team managed to alienate the electorate further.......desperation to salvage some credibility with their backers in this situation has led to Suthep on the streets with a last desperate move to complete the allotted task or fade away!

Farmers used when required for publicity....to suit the peoples council agenda

So we can safely assume your wife was paid for her rice?

Money is not important for my wife Mick, she has all she desires in this world

Me

Apologies to the rest of the board for indulging Micks fascination with my personal situation

[DGIE]

....farmers owed more than Bt500,000 that they would be paid in six weeks.

Those owed less than that would be paid next week.

another promise.

[personchester]

"The bonds would be sold to small investors, because it is believed a lot of people are interested in helping farmers, but large-scale investors or state enterprises are not perspective investors, he added."

Of course large-scale investors aren't prospective bond buyers. They didn't get rich by being stupid.

But can they raise enough from the small investor? 130 billion baht is a ton of money, and that's what they owe until the next rice crop comes in.

Government bonds are attractive to the working class people and they will buy them, if 20 Million people invest on average 6,500 Baht for those bonds, then the received figure would be 130 billion.

Edited February 22, 2014 by personchester

[Crushdepth]

What I want to know is:

* How much rice do they have?

* How much have they sold?

* How much have they paid for it?

* How much received from sales?

* Plan for disposing of stockpile?

* Credible plan with timeframe for paying farmers (no lies or BS)

Too hard?

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[BuddyPinkham]

How many times is it now that the farmers have been told they will be paid NEXT WEEK? When will they figure out that the government is just screwing them around, making empty promises and will continue to do so as long as the farmers go home and believe them!

[Mudcrab]

There is no Thai rice on the market so how can dumping occur? Meanwhile because of the lack of Thai rice on the international marketplace, rice prices are realizing all time highs benefiting countries like Mynamar. When Thai rice does get to the market, no doubt prices will fall but I don't think below reasonable and fair pricing levels. In other words, when Thai rice does get to the market in a "dribble out" strategy, it should realize substantial proceeds. Granted some people want to see Thailand fail on its sales so as to further disgrace the government but what then of the farmers? Is there no shame to which parties seek to interfer with the government rice sales and payments to farmers just to advance their own political agendas?

Wow, brilliant plan, sell the rice!, you should get in contact with the Commerce Ministry ASAP and share it with them.

Just to prove how much daylight there is between were you stand and reality:

"rice prices are realizing all time highs"

Go to this page and see the market prices for rice: Rice Monthly Price - US Dollars per Metric Ton

Month Price Change Jan 2009 615.25 - Feb 2009 634.00 3.05 % Mar 2009 625.25 -1.38 % Apr 2009 577.25 -7.68 % May 2009 540.75 -6.32 % Jun 2009 548.60 1.45 % Jul 2009 623.00 13.56 % Aug 2009 576.25 -7.50 % Sep 2009 593.67 3.02 % Oct 2009 566.25 -4.62 % Nov 2009 566.25 0.00 % Dec 2009 606.00 7.02 % Jan 2010 598.00 -1.32 % Feb 2010 584.75 -2.22 % Mar 2010 540.13 -7.63 % Apr 2010 502.23 -7.02 % May 2010 472.48 -5.92 % Jun 2010 458.55 -2.95 % Jul 2010 470.68 2.65 % Aug 2010 486.86 3.44 % Sep 2010 519.95 6.80 % Oct 2010 533.13 2.53 % Nov 2010 543.14 1.88 % Dec 2010 536.78 -1.17 % Jan 2011 528.38 -1.56 % Feb 2011 532.80 0.84 % Mar 2011 508.96 -4.47 % Apr 2011 500.57 -1.65 % May 2011 500.55 0.00 % Jun 2011 518.09 3.50 % Jul 2011 546.19 5.42 % Aug 2011 577.30 5.70 % Sep 2011 615.55 6.63 % Oct 2011 602.14 -2.18 % Nov 2011 609.09 1.15 % Dec 2011 580.91 -4.63 % Jan 2012 541.06 -6.86 % Feb 2012 547.48 1.19 % Mar 2012 577.05 5.40 % Apr 2012 585.95 1.54 % May 2012 612.43 4.52 % Jun 2012 606.14 -1.03 % Jul 2012 578.36 -4.58 % Aug 2012 582.87 0.78 % Sep 2012 590.50 1.31 % Oct 2012 584.74 -0.98 % Nov 2012 590.73 1.02 % Dec 2012 565.52 -4.27 % Jan 2013 573.39 1.39 % Feb 2013 574.07 0.12 % Mar 2013 564.52 -1.66 % Apr 2013 553.73 -1.91 % May 2013 552.09 -0.30 % Jun 2013 546.25 -1.06 % Jul 2013 538.26 -1.46 % Aug 2013 503.82 -6.40 % Sep 2013 470.00 -6.71 % Oct 2013 453.26 -3.56 % Nov 2013 448.81 -0.98 % Dec 2013 447.55 -0.28 %

Rice prices are the lowest (and dropping) since at least 2009, which is the exact opposite of your claim that "rice prices are realizing all time highs"

Good post. Saved me searching.

The other point to add is that if rice is being shipped out the back door to Indonesia and beyond then that will be another legal battle for the Rice Queen

Sent from my Nexus 4 using Thaivisa Connect Thailand mobile app

If you want to check mark to market prices:

http://oryza.com/

Sent from my iPad using Thaivisa Connect Thailand

International market prices are irrelevant. Farmers don't sell on the world market. They sell domestically. If they are promised a price by anyone, government or whoever, then they should be paid said price.And paid in a timely manner. Anything else is fraud.

[tomacht8]

What I want to know is:

* How much rice do they have?

* How much have they sold?

* How much have they paid for it?

* How much received from sales?

* Plan for disposing of stockpile?

* Credible plan with timeframe for paying farmers (no lies or BS)

Too hard?

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

The United States and some Asian nations have sounded warnings at the WTO because of Thailand's alleged lack of transparency on rice sales and stocks.

The lack of transparency is really creepy.

Hopefully they ruin not also Thailands international reputation as a trading partner.

And this idiotic rice scheme still continues!

This government is not able to solve this problem.

[Crushdepth]

What I want to know is:

* How much rice do they have?

* How much have they sold?

* How much have they paid for it?

* How much received from sales?

* Plan for disposing of stockpile?

* Credible plan with timeframe for paying farmers (no lies or BS)

Too hard?

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

The United States and some Asian nations have sounded warnings at the WTO because of Thailand's alleged lack of transparency on rice sales and stocks.

The lack of transparency is really creepy.

Hopefully they ruin not also Thailands international reputation as a trading partner.

And this idiotic rice scheme still continues!

This government is not able to solve this problem.

My experience with transparency is that if they won't tell anyone what they're doing...it's probably because they shouldn't be doing it.

Sent from somewhere in the Pacific

[Mosha]

Yellow shirts dont like this story because they want to block the payments for as long as possible.

The farmers know this and know that the real enemy is the 2 faces yellow shirts .... nothing has changed.

They will get their money and next election they will vote a pro thaksin gov back in to power... again and again and again

Not only are they upset that the farmers will be paid, they saw their grand dream fall apart in front of their eyes the real farmers of the central provinces realized they were playing into the hands of the anti government folks wanted no part of it and went home.

The government clearly stated they would meet with the farmers that were interested in getting paid for their rice, as they had met with the group around government house, that walked out of the meeting, bad move, If you need to pay farmers pay those that abide by the law and do not have a political agenda.

As it is clear all farmers will not be paid immediately, let those that have a political agenda be the last to be paid!

Cheers

The government is being "advised" by a bloke who said why should I care about them, they didn't vote for me. This is the response. Do not use our money on the people that do support you. Unfortunately the farmers supporting him are not the ones suffering

[Mosha]

I've said it before but I'll say it again.

The only way out of this mess is if all political parties, including the Democrats, can agree to guarantee re-payment of a loan by who ever forms the next government.

The (care)taker government is bound by the constitution not to take on any loans that will impede the next government, but mutual agreement by all political parties at this time would give the Constitutional Court the possibility of allowing such a loan, considering the pressing need of the empty-handed rice farmers.

But such a broad agreement would demand transparency both of how the payments are administered and how and why the rice scam scheme has come to cost so much with such disastrous results for the Thai rice industry. Until the (care)taker government is prepared to finally provide that transparency, the rice farmers will continue to be given empty promises and the Democrats can sit back and enjoy the sight of the sinking ship MS Shinawatra. But it would be a strategic move for the Democrats to publicly come out with such a proposal very soon, and be seen by the rice-farmers and the rest of Thailand as saving the day.

Or go back to the Dems system. Pay the farmers a sensible price as they harvest.

[Davidhere]

Caretaker Prime Minister Yingluck Shinawatra did not appear in public for the third consecutive day yesterday

Wow! Another trifecta achieved for the PM!

The second in 3 days.

Congratulations

Replying to Yingluck slammed for disseminate "hate speech"

Her speech distorted the facts, told lies, and slandered others

Yingluck managed to hit a trifecta... of disgusting speech.

.

Edited February 22, 2014 by Davidhere

[Davidhere]

"I'll gladly repay you Tuesday, for a hamburger today".

Like-minded.

From another previous thread that payments were "coming soon" like this thread...

Replying to

Rice farmers to get payments next week, Yingluck assures

A female version of Wimpy:

I will gladly pay you Tuesday for a bag of rice from last August.

.

Epilogue: the farmers didn't get paid despite Yingluck's assurances.

.

Edited February 22, 2014 by Davidhere

[schondie]

Has anyone got any rice bonds that they'll sell to me before I miss out on the stampede on Monday? I need to invest some of my dead Nigerian prince's ill gotten gains that should be transfered to my bank account tonight.

[Basil B]

I was wondering who would be so naive enough to buy them?

But have it on good authority they will be selling them cheap to the rice farmers in lieu of the overdue payments...

I also heard the bonds are to be sold for 10 UED each.

[lostinsurin]

Keep up the good faith boys, while you still can.

All hail Suthep, hail Suthep!!!!!

However, the last chance your master had did a U turn just before Bangkok. Remember them boys?

And with the tractors went your last hope, so go join you brothers on the barricades

while they are still there, they will be gone soon.

I will miss you all, It's been entertaining.

In a months time we can go back to talking about visas and other BS.

[Thai at Heart]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Nothing like paying for a product with worthless paper.

My sentiments exactly , how do you know that you will get your money when you cash in the bonds, also ,who is the small investors , interesting comments that.

If anyone is lending money to the thai government how do they know they are going to get their money?

That goes for the USA, GB and eurozone too.

It is a fairly safe investment.

Edited February 22, 2014 by Thai at Heart

[hawker9000]

Well, wouldn't it just be a government bond, just like any other.

On the basis that the pledging system isn't going to keep going, what would be the risk in investing in them. Crazy concept paying interest on a farmers labour for many years,but hey, I would buy these bonds just as an investment.

Good. You buy them.

What worked for the U.S. (promiscuously printing money) won't play as well for the Thais. By printing truckloads of money, the U.S. has been able to effectively kick the economic can down the road. The scheme won't work forever, and the house of cards will eventually collapse, but it's been an effective delay tactic for incumbent spenders to date. But the USD and THB are two different animals. I don't believe Thailand will be able to get away with floating currency like this - not for any length of time. Moreover, what will this borrowing of "public money" be based on? Rice, sitting in warehouses, with widely held suspicions regarding its actual condition?! Except perhaps as a collector item, it's hard to imagine middle-class Thais lining up to buy these bonds, and the hi-so even less-so. I guess some foreign investors might be interested, but the price will have to be right, i.e., quite a discount. So if the large state-run enterprises can't buy them, well, maybe all this is just a trial balloon... A last attempt to breathe some life into a failing regime.

[Robby nz]

There are good articles elsewhere this morning two on the rice and another on the turn around.

Read them before posting again.

Also an opinion piece on emotionally stunted that applies to several posters.

[Old Man River]

There are good articles elsewhere this morning two on the rice and another on the turn around.

Read them before posting again.

Also an opinion piece on emotionally stunted that applies to several posters.

Perhaps links to the articles you think are good? I didn't see anything with info not already known.

In my opinion, I think they planned on allocating some of the THB 2 trillion budget to pay the farmers, but Suthep threw a wrench into their plans. I expressed this opinion weeks ago. I don't think they wanted a protracted discussion on the rice scheme, hence didn't go for a specific budget to pay the farmers (my opinion only). The article I am looking at suggests using some of the Central Budget which was approved pre-Suthep. I agree with that as I want to see the farmers paid, although liquidity is being discussed as if it is a problem. They can work that out.

How they move away from this unsuccessful program to one that still keeps their constituents happy is anyone's guess.

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