Thailand back as rice exporter champion

[webfact]

Thailand back to world’s No 1 rice exporter
By Digital Content



BANGKOK, Mar 22 – Thailand has reclaimed its title as the world’s top rice exporter after having shipped out 1.5 million tonnes of grain in the last two months, according to an international trade company.

Sumet Laomoraporn, Chief Executive Officer of CP Intertrade Co, said Thailand’s rice export in January-February was higher than two closest competitors - India which exported 1 million tonnes and Vietnam 800,000 tonnes.

The United States has predicted Thailand will surge back to world’s No 1 rice exporter this year given higher quality of rice and declining prices, he said, adding that Thailand will possibly export 8.5 million tonnes of rice this year.

He said the global rice prices are approaching the lowest level with 5 per cent rice sold at US$400/tonne and the prices will fall to US$360-380/tonne in March-April which is the harvest season in major rice producing countries, including Vietnam and India.

Rice prices will surge higher in the second half of the year as buyers import rice to be stocked and the El Nino phenomenon will affect rice production in the third quarter, pushing up grain prices, he said.

Mr Sumet said the termination of the government’s rice pledging scheme has pushed down rice price to Bt7,000/tonne, resulting in declining prices of packaged rice.

The price of packaged rice has been 10 per cent lower since early this year and is on a declining trend, he said. (MCOT online news)


-- TNA 2014-03-22

[Robby nz]

Was wondering about the 'Exporter" bit.

To me exported means having been put on ships, planes, trains, trucks or whatever and sent out of the country, completely different from sold.

Has this happened ?

Then as I said before how do the factor in that which has been sold on the futures exchange, to my limited understanding those who buy futures don't actually take delivery so whatever was sold through that medium would not have been exported.

[Pib]

Thai rice on sale!!!...buy below wholesale!!!....get a free bag of rice with every bag of rice you buy!!!!...you might also get lucky and get a bag of taxpayer's money!!!!...buy from the world's number one rice exporter!!!...re-elect the PTP.

[godden]

Swallowing this is proving difficult, need more salt.

[Lupatria]

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

They are essentially dumping it. Trying to look good here in this article

This is not an "article," this is propaganda.

"It's the absolute right of the state

to supervise the formation

of public opinion"

Josef Goebbels

[kurtgruen]

only becasue they are selling it cheaper to get rid of it LOL

What they are doing is the following...The middle men (Government insiders) buy it high, sell it low, back to themselves and then buy it high with Government money again. That way, they just keep making more and more money, with the same rice. Eventually, they just burn the rice to get rid of the evidence. Schemes like the rice scandal, always work out like this.

It's easy...you are a rice wholesaler, but a bit of rice from the farmers, getting all this extra money from the Government to do so, then you sell it back to yourself (or in a buddies name, to loose the paper trail)...he sells the same rice back to you at much higher prices...you can do that over and over again (which I'm sure they are) and bleed Government money, without doing much of anything for the farmers

[Ricardo]

I wonder whether the rice sold was new-crop, or is from the oldest stocks in-storage, I would suspect the former.

Which country would want to buy dubious-quality old-rice, when they can insist on problem-free new-crop, and get a reduced-price due to desperation-selling ?

Tales of selling at below-market prices, to a favoured-few of politically-connected front-companies, can also only be given-the-lie by releasing full details of all sales.

Until then, I would remain sceptical, and anyway two-months is not a full-year !

[HonestQuietBob]

So all the chicken little's predicting armageddon were wrong?

When will you people learn to trust uncle T, he's so much smarter than you (especially when it comes to governing a nation).

[antimedia]

He must have two appendages, can't get that silly just playing with one.

[Artisi]

So all the chicken little's predicting armageddon were wrong?

When will you people learn to trust uncle T, he's so much smarter than you (especially when it comes to governing a nation).

[Artisi]

Seems you have won "joke of the year" - congratulations, there is no way anyone will be able to top it.

[ginjag]

If you cut the new car price by 50% you will sell millions more.

Not many pro gov posters on here, a bit shy about rice-tablets-water management etc.

[Crushdepth]

So people are buying this overpriced, rotting rice.

They're selling it well below market price

[ginjag]

So all the chicken little's predicting armageddon were wrong?

When will you people learn to trust uncle T, he's so much smarter than you (especially when it comes to governing a nation).

It should be compulsory for any T supporter to have a scan, HE has been governing the nation for the last 3 years, and his result is ?????

[darren84310]

Do India and Vietnam even know or care that they are in this race?

I think they care an awful lot that Thailand is undercutting them and destroying the lives of millions of farmers worldwide.

Thailand used to be a sensible rice exporter.

[samjaidee]

This will open your eyes.

http://oryza.com/news/rice-news/thailand-government-sells-rice-through-secret-channels-below-market-prices-claims

[expat888]

So people are buying this overpriced, rotting rice.

Correction: under priced rotting rice.

[expat888]

Thailand is a magnificent nation and has the potential to be high-ranking in many areas, if it is correctly governed. Rice is the obvious example, but the potential is there for a lot more besides. Sadly and relentlessly mismanaged to date, but with the right leadership the future for Thailand could be extraordinarily golden. I pray that this nation will eventually reach the heights that people here have toiled hard for and thoroughly deserve.

I think I'm going to puke.

[Fat Haggis]

So people are buying this overpriced, rotting rice.

They're selling it well below market price

Is there any other way in which to shift it though?

Would the peoples council be able to get the price back up to 11-13,000 Bht per tonne?

The Importers know all to well Thailand is neck deep in the stuff, and haven't been able to shift it, so why would they want to pay the market price, when they can more or less dictate the price, Thailand is the not the client here, it's the salesman trying to get the clients

Perhaps the economists here on TVF that seem to know how all of this should be done, should get together with the caretaker Government/Peoples council and show them the error in their ways?? And get the market price for a product that has more supply than demand

[expat888]

Plainly and simply, I don,t believe it ! I once saw a plaque on Pattaya main beach saying that it had been voted the cleanest beach in S.E.Asia, and you don,t see too many of them posted on the shores of a settling tank

Who did the voting? TAT?

[getthaid]

Thailand is a magnificent nation and has the potential to be high-ranking in many areas, if it is correctly governed. Rice is the obvious example, but the potential is there for a lot more besides. Sadly and relentlessly mismanaged to date, but with the right leadership the future for Thailand could be extraordinarily golden. I pray that this nation will eventually reach the heights that people here have toiled hard for and thoroughly deserve.

Why stop at praying? Wish on your lucky star also! And click your heels together three times.

Oh please it's gotta be true

It's just gotta be.

Purely out of lethargic curiosity, what are these many areas that you believe Thailand excels in, or could possibly excel in?

Sent from my iPhone using Thaivisa Connect Thailand

Edited March 22, 2014 by getthaid

[kieran2698]

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

Thailand is a magnificent nation and has the potential to be high-ranking in many areas, if it is correctly governed. Rice is the obvious example, but the potential is there for a lot more besides. Sadly and relentlessly mismanaged to date, but with the right leadership the future for Thailand could be extraordinarily golden. I pray that this nation will eventually reach the heights that people here have toiled hard for and thoroughly deserve.

Hmmm, I wonder if you can elaborate on what you mean by magnificient. Also, couldn't one say that EVERY nation has potential to be great, or are Thais in some ways superior/inferior inherently to other nations?

Thai are far superior to every nation in the world. Everyone knows that.

Except those that don't start with 'T' and end with 'D'.

I think the good people of Trinidad would have something to say about that.

[getthaid]

So all the chicken little's predicting armageddon were wrong?

When will you people learn to trust uncle T, he's so much smarter than you (especially when it comes to governing a nation).

If it talks like a troll and quacks like a troll .......

Sent from my iPhone using Thaivisa Connect Thailand

[kieran2698]

The number one exporter in the world and mostly all we ever receive when I go to a restaurant is white rice which is pure junk like white sugar, white flour, white salt, etc. etc.

White salt? I'm curious as to what the etc etc might represent.

[Benmart]

Thailand is a magnificent nation and has the potential to be high-ranking in many areas, if it is correctly governed. Rice is the obvious example, but the potential is there for a lot more besides. Sadly and relentlessly mismanaged to date, but with the right leadership the future for Thailand could be extraordinarily golden. I pray that this nation will eventually reach the heights that people here have toiled hard for and thoroughly deserve.

Hmmm, I wonder if you can elaborate on what you mean by magnificient. Also, couldn't one say that EVERY nation has potential to be great, or are Thais in some ways superior/inferior inherently to other nations?

I didn't read where the poster was talking about "every" nation... only about Thailand. I prefer to stay focused on that was actually written and not hypotheticals.

I agree that the "magnificent" comment could use some fleshing out.

Edited March 22, 2014 by Benmart

[Dogmatix]

The evil genius' brilliant plan is now going into effect in reverse. Thailand is force to dump its rotting rice hoard at a huge loss and making the global rice collapse. He is probably rubbing his hands and making money through shorting the futures, knowing all along what would be the result of his Macchiavelan schemings.

An unplanned result may of course be the arrival of his cloned sister in Dubai for a long stay on a cloned Montenegrin passport.

Edited March 22, 2014 by Dogmatix

[BlueNoseCodger]

Most thai rices are quality rices. They have mountains of it to sell and tonnage is a good start. Problem is it is at a market over supply price well below all the costs incurred. They will need to live with low price for this year at least and possibly well into next year as well looking at full year projections of 9 to 10 tons on sales to date, until they can exhaust their own stock piles and demand catches up with supply. And the absolutely stupid scheme of Pheau Thai or more correctly to Thaksin's great business skills (sic) will cost what by the time the farmers are all paid out. At least the money now being generated is cash flow to be moved to the farmers who are still owed. The EC should be demanding a clear full daily audit of cash income from rice sales vs payments to farmers to keep am eye on these thieves and the cash. .

No it isn't, only a small percentage is quality Jasmine rice and even then Cambodia produces better rice. Best in the world for the second year in a row.

The scheme has encouraged farmers to grow quick maturing rice of lower quality.

How much of what they have sold is new season and how much is stockpile is another thing.

Don't know how rice sold into the futures market is factored into this, someone who understands that market might like to explain.

The money generated from sales will now go to repaying the 20 billion borrowed and not to the farmers.

Until that 20 billion (plus the interest) is repaid none of the money generated from rice sales will go to the farmers.

How much of that 20 billion gets to the farmers once "procedures" are completed is another thing.

There will never be an audit until we get a non Thaksin proxy Govt.

So to sum up,

Thai rice is the best in the world. It sells the best, Thailand is the number one exporter, despite your fun and games, the government still managed to get the farmers money, despite your guy blocking bond issues, blocking bank finance, blocking rice auctions, blocking G2G sales to China.

BANGKOK, 28 February 2014 – China will abide by its promise to buy one million tons of rice a year under the government-to-government (G2G) basis, as stated in the Memorandum of Understanding (MOU) signed by Thailand and China. The Chinese embassy in Thailand has confirmed that the Chinese government is willing to buy 1 million tons of rice on a G-to-G basis from the Thai government in accordance with the MOU signed by both country during the Chinese leader’s visit to Thailand late last year. (Link)

So you managed to block sale of rice, so that Thailand lost the top stop as exporter, and now those deals are going ahead anyway, and we're back on the top. Nice try, your guy failed.

Edited March 22, 2014 by BlueNoseCodger

[Lupatria]

Thailand is a magnificent nation and has the potential to be high-ranking in many areas, if it is correctly governed. Rice is the obvious example, but the potential is there for a lot more besides. Sadly and relentlessly mismanaged to date, but with the right leadership the future for Thailand could be extraordinarily golden. I pray that this nation will eventually reach the heights that people here have toiled hard for and thoroughly deserve.

You must be very happy to live on planet Thailand the center of the universe, the galaxy of righteousness, innovation and predominance. Keep on praying for not losing your wisdom.

[dru2]

So all the chicken little's predicting armageddon were wrong?

When will you people learn to trust uncle T, he's so much smarter than you (especially when it comes to governing a nation).

Yep, your man is a genius:

'... (The other paper), citing trade sources, says that the government has sold about 800,000 tons of rice so far via secret channels this year at prices of around 9.60 baht per kilogram (around $298 per ton), which is down about 20-25% from the current market price of around 12-13 baht per kilogram (around $373 - $404 per ton). If true, the secret sales could be a contravention of WTO rules. In the past, several countries, including the U.S., have raised concerns about the possibility of Thailand dumping its rice in the international market.

The Agricultural Futures Exchange of Thailand (AFET) President also says that the government is trying to sell rice hastily through several channels, and this was the reason for the poor participation in yesterday’s AFET auction for about 244,000 tons of rice, in which only seven bidders participated. Exporters say they are reluctant to buy rice from the government because prices are expected to decline by 10-15% in April - May 2014 when some rice from Vietnam’s winter-spring crop is likely to enter Thailand'.

[Thanks to Samjaidee].

Edited March 22, 2014 by dru2

[kannot]

The number one exporter in the world and mostly all we ever receive when I go to a restaurant is white rice which is pure junk like white sugar, white flour, white salt, etc. etc.

White skin.....