Thailand to join rice auction in the Philippines to compete with Vietnam

[webfact]

Thailand to join rice auction in the Philippines to compete with Vietnam



BANGKOK: -- The External Trade Department will join rice auction in the Philippines and will try to clinch a rice deal with Qatar in an attempt to offload the huge rice stockpiles at home to earn revenue to pay rice farmers.

Mr Surasak Riangkrua, director-general of External Trade Department, said Sunday that in order to join the rice auction in the Philippines the department had successfully convinced the Philippine government to extend the memorandum of understanding for rice delivery which had already expired.

He said that the Philippine government was earlier hesitant to extend the MoU because of the caretaker status of the Thai government but, in the end, the MoU was extended and the amount of rice to be imported by the Philippines has increased to one million tonnes annually for three consecutive years instead of 300,000 tonnes annually.

The auction is for the delivery of 700,000-800,000 tonnes of 25% white rice and Thailand’s main competitor is Vietnam which is likely to offer a lower price than Thai grains, said Mr Surasak, adding that the department will offer a market price which will be close to Vietnam’s price.

Moreover, the department will try to clinch a government-to-government rice deal with Qatar which plans to buy 30,000-40,000 tonnes of Thai rice instead of just 10,000 tonnes.

Source: http://englishnews.thaipbs.or.th/thailand-join-rice-auction-philippines-compete-vietnam/


-- Thai PBS 2014-03-17

[Costas2008]

"Thailand’s main competitor is Vietnam which is likely to offer a lower price than Thai grains, said Mr Surasak, adding that the department will offer a market price which will be close to Vietnam’s price."

Market price, my foot.

Why don't you say the truth, that Thailand will drop the price to the lowest lever, trying to unload some of the huge stockpiles, created by your corrupt rice scheme, and find some money to pay the farmers that are still waiting to see some money, promised a thousand times in the past.

Edited March 17, 2014 by metisdead
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[seajae]

I wasnt even aware Vietnam was trying to sell rotten rice as well , somehow I think thai rice will come off second best

[dcutman]

Information not included in this article, is the fact that the Philippines wants to buy rice of a new crop, not some 2 or 3 year old moldy rice.

http://www.mb.com.ph/philippines-looking-to-import-up-to-800000-tonnes-of-rice/

[AleG]

Vietnam better keep the paper work ready for their complain to the WTO against Thailand dumping rice in the market.

[webfact]

Commerce Ministry reviews strategy on sales of stockpiled rice



BANGKOK, 17 Mar 2014 (NNT) -- Deputy Prime Minister and Commerce Minister Niwatthamrong Boonsongpaisan is today calling a meeting of related officials to discuss the rice situation and review the Ministry’s strategy to sell the stockpiled rice.

The ministry has borrowed 20 billion baht from the Finance Ministry to pay the farmers who have yet to receive the rice support program compensation. And in order to return the money to the Finance Ministry within the time frame set by the Election Commission, the Commerce Ministry has to raise 8-10 billion baht a month from the rice sale.

Today’s agenda also includes the ministry’s request to ask the Cabinet to approve the extension of a memorandum of understanding made with the Philippines which will entitle Thailand to participate in rice-selling auction in that country. The MoU is required to be renewed every four years. The Philippines’ new rice auction is scheduled this April and will command a supply of 800,000 tons.

The ministry will also propose to the Cabinet for consideration a plan to hold road shows to promote Thai rice in foreign countries.

Meanwhile, the Department of Foreign Trade is prepared to report a rising trend of rice price as a result of the prevailing drought which is affecting the rice production in all 3 major rice producers -- Thailand, India and Vietnam. The department anticipated the rice price in the Q2 would be higher than the average 430 dollars per ton mark.


-- NNT 2014-03-17

[Scamper]

It is pretty fanciful to imagine that people are going to find rice that has aged very competitive in the world market, especially as they will be competing with Vietnam - now the world's leading exporter, thanks to Pheu Thai. The studious spin understandably has tried to put a brave face on it. Simply put, they need the cash. But for any official on the scene taking part in such an auction, a large degree of embarrassment must also factor in.

[webfact]

Thailand to participate in an auction to sell rice to Philippines

BANGKOK, 17 Mar 2014 (NNT) -- The Department of Foreign Trade reveals that it is preparing to participate in an auction hosted by the Philippines to sell 700,000-800,000 tons of rice after both countries have signed an extension of the Memorandum of Understanding (MoU) on rice cooperation.

Director General Surasak Riengkrue said that the MoU’s duration would last for another 3-4 years; however, he said the government must proceed with the auction carefully as its interim authority is limited. He added the renewal of the MoU would provide a tremendous opportunity for Thailand to sell its rice stockpiles, pointing out that the MoU could be reconsidered when a new government was formed.

The Commerce Ministry has anticipated the Philippines would be interested in purchasing 25% white rice from Thailand. That country earlier used to import rice from Thailand, but later shifted its focus to Vietnam which offered rice at lower prices.

The Thai Rice Exporters Association echoed Mr. Surasak’s claim, saying the auction would be a good opportunity to sell the stockpiled rice. He said Thai rice is currently as competitive as that of Vietnam as its price has dropped to a range of 400 - 410 dollars per ton.

The Philippines, however, has yet to announce details of its planned auction.


-- NNT 2014-03-17

[Why ask]

Who is going to mix the Filipino, Vietnamese and rotten Thai rice altogther, in 'big bags', and pass it off to the rest of the world as 'Best Thai Jasmin rice from 2013' since sliced bread, and sell it at above 14K per tonne to even try to break half way even?

[Robby nz]

Another MOU, not it should be noted a firm contract, the MOU,s with China have apparently come to nothing lets hope for the farmers sake that this one is for real.

Has the 20 billion loan actually been signed off and if so when is the BAAC likely to start paying it out ?

[bigbamboo]

The Qataris will be amused by this.

They are the ones who usually have to pay the bribes to get what they want.

[NongKhaiKid]

With the auction in the Philippines and a deal with Qatar, real or imagined, i wonder how much rice the government will claim to have sold this time ?

[PaullyW]

Another MOU, not it should be noted a firm contract, the MOU,s with China have apparently come to nothing lets hope for the farmers sake that this one is for real.

Has the 20 billion loan actually been signed off and if so when is the BAAC likely to start paying it out ?

Actually, sadly, I hope for the farmers' sake, that it all completely and utterly fails sending the industry into temporary ruin. I hope further that the farmers come and march on Bangkok and violently take matters into their own hands against the elite who have kept them down for ages. Sometimes the only solution is one that shakes things to the core, devastates them and them allows them to be rebuilt, better on a foundation of improved honesty and transparency.

A bit of tough love is what Thailand needs. Not the same old tit for tat

[Samaaw]

GOOD LUCK VIETNAM !

[KRS1]

i wonder if this scenario ever happened : portions of rice secretly removed from warehouse to be resold to government over and over again, missing rice declared spoiled and destroyed.

if i was corrupt this would be the way to go

[darren84310]

It was always going to come to this... Not only screwing up the lives of Thai farmers, but managing to affect the lives of farmers in other countries as well.

The WTO should throw the book at them when this happens.

[Benmart]

Another MOU, not it should be noted a firm contract, the MOU,s with China have apparently come to nothing lets hope for the farmers sake that this one is for real.

Has the 20 billion loan actually been signed off and if so when is the BAAC likely to start paying it out ?

Actually, sadly, I hope for the farmers' sake, that it all completely and utterly fails sending the industry into temporary ruin. I hope further that the farmers come and march on Bangkok and violently take matters into their own hands against the elite who have kept them down for ages. Sometimes the only solution is one that shakes things to the core, devastates them and them allows them to be rebuilt, better on a foundation of improved honesty and transparency.

A bit of tough love is what Thailand needs. Not the same old tit for tat

While I agree with some points...It is very easy to advocate violence to quench the fires of injustice. Particularly when the advocate is safely insulated from the resulting conflagration.

I advocate for a peaceful alternative to discourse. But then again, not being Thai or a stakeholder, my opinion makes no difference in this Thai matter.

[smedly]

My interpretation of the article and additionally what was excluded

Thailands long standing rice deal with the Philippines expired recently with the Philippines preferring to purchase rice from Vietnam based on price and quality, but in the interest of fair competition they have agreed to allow Thailand to enter the auction but have stipulated conditions that will likely trigger a price war in the region.

Philippine authorities have also stipulated they are only interested in fresh crop rice from Thailand causing more concerns for Thailands now defunct rice scheme, government officials are quickly running out of options as to how to dispose of the huge rotting stock piles.

The scheme could very well end up costing the Thai people well over one trillion baht, some people believe that upwards of 500 billion baht has already been diverted into the coffers of corrupt government officials and redshirt leaders

The prime minister of Thailand is currently facing charges in court as she is rightly deemed ultimately responsible, other government heads are expected to follow suit once a full investigation has been completed

[Thai at Heart]

Vietnam better keep the paper work ready for their complain to the WTO against Thailand dumping rice in the market.

I think the noise i just heard was that of the Thai government dropping their pants. WIll be interesting to see the prices. The loss will be enormous.

[Fat Haggis]

It doesn't matter who is in power now or later, IF the PDRC topple the Government, they're also going to have to try and shift all that rice, if there's no takers now, what makes anyone assume there will be buyers later, and at what price will it have to be sold?

Are the peoples council prepared to tell the farmers there's not going to a windfall and that they're more than likely going to receive less that 50% of the pledged amount the Scheme was offering?

How are the peoples council going to sell the rice on, without flooding the market which effects the global market price, supply and demand.. the supply at present outweighs the demand ?

[rubl]

Another MOU, not it should be noted a firm contract, the MOU,s with China have apparently come to nothing lets hope for the farmers sake that this one is for real.

Has the 20 billion loan actually been signed off and if so when is the BAAC likely to start paying it out ?

Last week it was said that payments would start today, starting to use that 20 billion loaned. No news today, but then it's only 18:37 (AKA 06:37PM).

[rubl]

It doesn't matter who is in power now or later, IF the PDRC topple the Government, they're also going to have to try and shift all that rice, if there's no takers now, what makes anyone assume there will be buyers later, and at what price will it have to be sold?

Are the peoples council prepared to tell the farmers there's not going to a windfall and that they're more than likely going to receive less that 50% of the pledged amount the Scheme was offering?

How are the peoples council going to sell the rice on, without flooding the market which effects the global market price, supply and demand.. the supply at present outweighs the demand ?

Why do you assume a "Peoples Council" will be stuck with this issue? No faith in the return of Pheu Thai?

BTW with enough problems to raise the 130 billion the government was trying to borrow, it would seem that any money paid out by the BAAC will soon be a NPL. Don't worry though, only about 700 - 800 billion. Not bad for a 2-1/2 year scam.

[Varangkul]

Perhaps is now obvious why the Democrats did not want to enter any election in february! Who would want that elephant tied around their neck?

[Fat Haggis]

It doesn't matter who is in power now or later, IF the PDRC topple the Government, they're also going to have to try and shift all that rice, if there's no takers now, what makes anyone assume there will be buyers later, and at what price will it have to be sold?

Are the peoples council prepared to tell the farmers there's not going to a windfall and that they're more than likely going to receive less that 50% of the pledged amount the Scheme was offering?

How are the peoples council going to sell the rice on, without flooding the market which effects the global market price, supply and demand.. the supply at present outweighs the demand ?

Why do you assume a "Peoples Council" will be stuck with this issue? No faith in the return of Pheu Thai?

BTW with enough problems to raise the 130 billion the government was trying to borrow, it would seem that any money paid out by the BAAC will soon be a NPL. Don't worry though, only about 700 - 800 billion. Not bad for a 2-1/2 year scam.

I guess you didn't see the Large Capital letter saying IF

Try reading it again, it says it doesn't matter who's in power, if it's not going to be the PTP, it will be the dream child of Suthep and his peoples council, or maybe even a Military Junta, now there's a whole different player then who has to figure out what to do with it all!!

And perhaps hap hazarding a guess as to what will happen to the rice stocks and the plight of the farmers who were promised a fixed rate, which doesn't look likely to materialise??

[rubl]

It doesn't matter who is in power now or later, IF the PDRC topple the Government, they're also going to have to try and shift all that rice, if there's no takers now, what makes anyone assume there will be buyers later, and at what price will it have to be sold?

Are the peoples council prepared to tell the farmers there's not going to a windfall and that they're more than likely going to receive less that 50% of the pledged amount the Scheme was offering?

How are the peoples council going to sell the rice on, without flooding the market which effects the global market price, supply and demand.. the supply at present outweighs the demand ?

Why do you assume a "Peoples Council" will be stuck with this issue? No faith in the return of Pheu Thai?

BTW with enough problems to raise the 130 billion the government was trying to borrow, it would seem that any money paid out by the BAAC will soon be a NPL. Don't worry though, only about 700 - 800 billion. Not bad for a 2-1/2 year scam.

I guess you didn't see the Large Capital letter saying IF

Try reading it again, it says it doesn't matter who's in power, if it's not going to be the PTP, it will be the dream child of Suthep and his peoples council, or maybe even a Military Junta, now there's a whole different player then who has to figure out what to do with it all!!

And perhaps hap hazarding a guess as to what will happen to the rice stocks and the plight of the farmers who were promised a fixed rate, which doesn't look likely to materialise??

Oh, I did see the IF. Just indicating in my own weird way that the legacy of Thaksin's rice scam will haunt Thailand for years to come.

Of course the others who get stuck with cleaning up will be blamed. Upcountry lots of people believe Ms. Yingluck who said the delays were because of anti-government protests, the subsequent need to dissolve the House to make way for a renewed mandate, the blocking of elections, the lack of respect of my vote which of course Pheu Thai really values, at least till it's counted.

Anyway, one more reason to block Thaksin, Pheu Thai and try to get real reforms.

[smedly]

weird thing is, if anyone set out to shaft Thailand and it's people for some sort of retribution Thaksin has actually excelled

I believe about a year ago that I posted on here that that was exactly what I thought he was up too - I quite possibly could have been right

[Robroona]

Is there some kind of rule which prevents fab4, moonao, bluenose codger and their various user names from commenting on any topic in which the word RICE features?

Or are they in their RED RICE denial mode?

[Robby nz]

It doesn't matter who is in power now or later, IF the PDRC topple the Government, they're also going to have to try and shift all that rice, if there's no takers now, what makes anyone assume there will be buyers later, and at what price will it have to be sold?

Are the peoples council prepared to tell the farmers there's not going to a windfall and that they're more than likely going to receive less that 50% of the pledged amount the Scheme was offering?

How are the peoples council going to sell the rice on, without flooding the market which effects the global market price, supply and demand.. the supply at present outweighs the demand ?

No point of bringing names into it for whoever takes over after Yingluck and her crowd of crooks are dumped will arrange funds to pay the farmers.

That will bear no relation to what will happen to the rice, but it will be disposed of somehow, which will probably take years and be at additional great cost to the country bringing the total cost of Thaksins folly to well over the trillion.

So the payment to the farmers and the disposing of the rice will in future be two separate items.

The only reason they are linked at present is the incompetence of PT in not arranging finance to pay the farmers before dissolving the house.

Had they put in place funding to pay, as they should, what amounts to their debts to the farmers , then, while the rice must still be sold, there would not be the panic there is to dispose of now, any how at any price.

Hopefully a future Govt (obviously not PT or reincarnation) will go after those responsible for the corruption and be able to retrieve some of the stolen money .

[billd766]

It would be interesting to see ifthe next governemnt will find and open the books of the rice scam to the whole world and then ALL the Thai people could see what has happened.

If the next government is not the PTP it WILL pay the farmers what they are owed at the same time that it freezes the bank accounts of ALL the PTP Ministers, MPs and civil servants that are found to be involved, prior to confiscating those funds.