Thailand back as rice exporter champion

[kimamey]

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

Firstly there's no peoples council but if there was they'd have the same problem. The difference being they didn't cause it but the PTP supporters might well blame them rather than the PTP.

There isn't really any other way but you won't hear the caretaker government mentioning it. They would be better off admitting their mistake and trying to cut their loses as much as possible. At least that would be honest.

The trouble is going to come if and when the PTP get back into power. The rice farmers now know that most of the money didn't go to them and what should have was delayed although they may believe the lie that it was all down to the Democrats. What will they expect now? I suspect they'll want at least what they had before and if they don't get it they may do the same as they did last year when the government tried to control the loses by cutting the price. Threaten protests.

[kimamey]

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].

If true…...

and if not?

Just one more fallacy from the anti-democratic mob.

The longer this debacle goes on the more the coup mongers lies are exposed for what they are.

Even with the biased court system in their pocket, this hopeless mob has barely secured a handful of convictions for anything in nearly 10 years of trying.

Give up and go home.

You lost.

Even with the biased court system in their pocket, this hopeless mob has barely secured a handful of convictions for anything in nearly 10 years of trying.

Just wondering can an entire sentence be an oxymoron?

[The Deerhunter]

Making lemonade out of lemons. World champion 2 months running, eh? OK lets keep counting & see how rest of the year does. The year toal is what will count. Two down, 10 to go.

[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).

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].

If true…...

and if not?

Just one more fallacy from the anti-democratic mob.

The longer this debacle goes on the more the coup mongers lies are exposed for what they are.

Even with the biased court system in their pocket, this hopeless mob has barely secured a handful of convictions for anything in nearly 10 years of trying.

Give up and go home.

You lost.

Even with the biased court system in their pocket, this hopeless mob has barely secured a handful of convictions for anything in nearly 10 years of trying.

Just wondering can an entire sentence be an oxymoron?

You need to check the definition in a dictionary my friend.

When you do, you'll find it doesn't apply here.

[tomacht8]

The Thailand caretaker government is selling rice from its stockpile at around 20-25% lower than market prices through secret channels to some exporters who have purchase orders to buy directly from the government, according to local media reports.

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

20-25% under market price!!!
So there are again some people who filled up there pockets!

The government has sold about 800,000 tons of rice so far via secret channels this year at prices of around $298 per ton,
which is down from the current market price of around $373 - $404

800.000 tons * 80$US lower price = 64. Million US Dollars.
* 32 Baht =

2.048.000.000 Baht
Over 2 Billion Baht again in dark channels.

Hope the NACC will check this.

Who were the buyers?

Were there any kick backs for these low prices?

Was there a tender?

Unethical people which steal from the state, belonging into the prison

[bigbamboo]

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].

If true…...

and if not?

Just one more fallacy from the anti-democratic mob.

The longer this debacle goes on the more the coup mongers lies are exposed for what they are.

Even with the biased court system in their pocket, this hopeless mob has barely secured a handful of convictions for anything in nearly 10 years of trying.

Give up and go home.

You lost.

You do realise who appoints Thailand's judges, don't you?

There are bias judges I'm sure but not all accept cake boxes stuffed with cash.

[tomacht8]

That is not true. The market price has been lower, down to 8,000b/ton recently. So if anything, they are getting better pricing than they were recently hoping for. Nice that they held the rice over the past few months to let the overstocks dwindle. They took a risk of the rice spoiling but they seem to now have a strong supply over many other nations for the next 4+ months til the next crop comes to the market. 10,200 is a lot better than 8,000 2 months ago!

You do not know the difference between paddy and milled rice!

[fatdrunkandstupid]

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.

Better keep praying. No hope of redemption until well after the unspeakable has occured.

[tilac2]

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].

If true…...

and if not?

Just one more fallacy from the anti-democratic mob.

The longer this debacle goes on the more the coup mongers lies are exposed for what they are.

Even with the biased court system in their pocket, this hopeless mob has barely secured a handful of convictions for anything in nearly 10 years of trying.

Give up and go home.

You lost.

You do realise who appoints Thailand's judges, don't you?

There are bias judges I'm sure but not all accept cake boxes stuffed with cash.

Some news from earlier this month (8th March):

A poodle named "Ricky" has landed this year's Best-in-Show at Crufts dog show. His handler said "He gave an absolutely beautiful performance and I am so proud of him."

Well, they do say that poodles are very easy to train. Clever animals - up to a point - although I personally prefer red setters or Rot-weilers. Geddit?

(By the way you have to be very careful with some of these animals - even poodles can give you a nasty bite).

[pedro01]

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.

You dont understand futures markets.

You really should not comment on things you dont understand.

Sent from my iPhone using Thaivisa Connect Thailand

Edited March 22, 2014 by pedro01

[Why ask]

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 a certain Chula 5 said the same as you offer, after returning from Germany, France and England 200 years ago. Unfortunately, only a part of the infrastructure has changed. Morals, corruption and what I can get best for me et al., all continue to roost in educational and professional practices. When Myanamar beaches become slightly more developed, on the western side (of course) then golden will not exist here (aside the love we carry for which is genuinely here carrying honesty, brevity and respect).

[Skywalker69]

So people are buying this overpriced, rotting rice.

They're selling it well below market price

Thanks to the big business tycon Thaksin Shinawatra. After his two first business went bancrupt he lost 55 milion THB. Good job busines tycon.

[Stone Inscription 1]

The people who make the most money from the rice crop are the Chinese middle men. Back in the mid-70s the farmers tried to get around this by forming the Peasant's Society of Thailand. Over 20 of their leaders, mostly from the Chiang Mai area, were gunned downed in little over a month. See the book, Political Conflict in Thailand: Reform, Reaction, Revolution Paperback

by David Morell (Author), Chai-Anan Samudavanija (Author)

Edited March 22, 2014 by Stone Inscription 1

[Lingba]

from hubs to champions

[MAJIC]

It's the usual: doesn't matter if you lose billions on the deal as long as they save face!

[plazot11]

So people are buying this overpriced, rotting rice.

The rice being exported is neither overpriced or rotting.

Please get your facts right before rushing to post number 6,870.

If you spend 10 minutes reading, writing each post you have spent 1,145 hours writing negative sh.t on this forum To any worker a minimum wage would be $20 per hour. The posts have in effect cost you $23,000 dollars.

You have just qualified for a special Award.

Please advise the address to send the Award "Mug of the Week"

[chooka]

So people are buying this overpriced, rotting rice.

The rice being exported is neither overpriced or rotting.

Please get your facts right before rushing to post number 6,870.

If you spend 10 minutes reading, writing each post you have spent 1,145 hours writing negative sh.t on this forum To any worker a minimum wage would be $20 per hour. The posts have in effect cost you $23,000 dollars.

You have just qualified for a special Award.

Please advise the address to send the Award "Mug of the Week"

My most sincere and deepest apologies as it appears that I have deeply offended you and caused extreme trauma. It was not my intention and I am very sorry. I also apologise because you seem extremely offended and upset that I have been a member here longer than yourself and have more posts. Had you of sent me a message 3 yrs ago that you were going to join Thai Visa in 2014 I would have held off until you were established.

Please accept my deepest apologies.

Your feedback is important to me as I can email you with my posts before posting what you refer to as shit.

[mikemac]

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?

They are far superior to you, and not near as nasty !

[IMA_FARANG]

So people are buying this overpriced, rotting rice.

--------------------------

Publish the documents ... the bills of sale and the shipping documents.

Otherwise it's all just "Pee You Thai" party bulls--t again.

[mikemac]

So people are buying this overpriced, rotting rice.

The rice being exported is neither overpriced or rotting.

Please get your facts right before rushing to post number 6,870.

If you spend 10 minutes reading, writing each post you have spent 1,145 hours writing negative sh.t on this forum To any worker a minimum wage would be $20 per hour. The posts have in effect cost you $23,000 dollars.

You have just qualified for a special Award.

Please advise the address to send the Award "Mug of the Week"

My most sincere and deepest apologies as it appears that I have deeply offended you and caused extreme trauma. It was not my intention and I am very sorry. I also apologise because you seem extremely offended and upset that I have been a member here longer than yourself and have more posts. Had you of sent me a message 3 yrs ago that you were going to join Thai Visa in 2014 I would have held off until you were established.

Please accept my deepest apologies.

Your feedback is important to me as I can email you with my posts before posting what you refer to as shit.

Thanks chooka, I love the smell of sarcasm in the morning.

[billd766]

First, there is no reports of a bunch of rotten Rice.

The first few rice sales were very low. But once countries started to see a reliable supply of rice and the quality was OK..prices went up.

Second, just a few days ago they update the total sales of Rice for the past 2 months. It equated to 10,200B / Ton. They bought the rice at 15,000B/ton and the original rice and sold at 10,200B/ton +/-. So yes, they lost money. They expected to lose 20-25% which is what is budgeted for year 2013. They lost 32%.. Not good...but not a disaster. Obviously, there are high risks in trying to do this sort of scheme. Certainly hope they realize this sort of thing can't happen again. Do remember, Years 2011 & 2012 were successful and on target.

Do you have ANY verifyable figures other than the governments figures to PROVE what you say?

Any links to anywhere any money income provable to rice stocks sold?

ANYTHING AT ALL?

Any person can spout out like you but it isn't worth a bucket of warm spit unless you can back it up with real facts and figures.

While you think about that I read but cannot remember as yet the storage costs are 400 baht per ton per month. That does not include handling charges or even VAT.

I will try to find the link.

Of course 32% loss is not a disaster. 100% loss is not a disaster either especially if it isn't your money anyway. If the money belongs to the country as it does then any loss is a disaster.

[american12bthai]

<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.

http://www.opensecrets.org/lobby/agencysum.php?id=023

corruption is a form of symbiosis therefore, they must stick together. , sometimes it is the only tool of "untrustworthy businessmen" the USAD (Agriculture Department) would gladly poison you for a dollar, everything reflects. when given two choices, the right way being harder but yeilds great results and the wrong way, easy money but ruins the future for your children; a thai person would always select the easy. those who do not, i dont consider thai. this rice is the future. but it is being treated and sold like a burmese child. it is funny how some treat their future.

[Docno]

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

"Vietnam has been struggling to sell rice this year as Thailand offloads a part of its high stocks that have been built up due to a controversial state intervention scheme there."

http://www.ricenewstoday.com/?p=10746

From elsewhere on the same site: "Asian rice prices continued to fall as sales of rice stocks by the Thai government added to pressure on prices at a time when supply is rising, exporters said on Friday. Common grade 5 percent Thai white rice was offered at $410 per tonne, down from last week’s $420."

Edited March 23, 2014 by Docno

[Jonmarleesco]

Really? That is harder to believe than the commerce minister's GtoG claims. Presumably they were unstinting in their offers of discounts ... and unsparing in their use of formaldehyde.

[OZEMADE]

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

"Vietnam has been struggling to sell rice this year as Thailand offloads a part of its high stocks that have been built up due to a controversial state intervention scheme there."

http://www.ricenewstoday.com/?p=10746

From elsewhere on the same site: "Asian rice prices continued to fall as sales of rice stocks by the Thai government added to pressure on prices at a time when supply is rising, exporters said on Friday. Common grade 5 percent Thai white rice was offered at $410 per tonne, down from last week’s $420."

From what I can gather from the news and some posts, the rice being sold is Bulk Rice. It is selling for what the going price is for bulk rice at the moment, but the prices world wide are falling. The other rice being referred to in other news, is packaged rice, say 1 kilo bags etc, they are dropping in price due to the expense of grading and packaging the rice.

[rubl]

does the 1-1/2 million tonnes in two months mean that the government doesn't need to borrow 130 billion Baht. Will the rice mountain be big enough to cover that amount and maybe still be enough to cover the 700++ billion Baht hole at the BAAC?

[bigbamboo]

Anyway, the good news is that with Thailand top of the league again there will be enough money in the pot for Rice Chairwoman Yingluck to authorise the back payments to the farmers with no more delays.

[Nickymaster]

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].

If true…...

and if not?

Just one more fallacy from the anti-democratic mob.

The longer this debacle goes on the more the coup mongers lies are exposed for what they are.

Even with the biased court system in their pocket, this hopeless mob has barely secured a handful of convictions for anything in nearly 10 years of trying.

Give up and go home.

You lost.

Your 2 posts explains exactly why this country is in such a mess. Gullible Red Shirt spreading Red propaganda. Even when somebody tries to educate you, you still have a big mouth.