China may buy more rice from Thailand

[webfact]

China may buy more rice from Thailand
By Digital Content



BANGKOK, April 10 – China will possibly sign deals to buy one million tonnes of rice from Thailand after its specialists inspected a rice warehouse in Suphan Buri, according to the Thai Commerce Ministry.

Surasak Riangkrul, director general of the Foreign Trade Department, said rice inspectors from China National Cereals, Oils and Foodstuffs Corporation (COFCO) – China’s state-owned food processing holding company – were satisfied with the quality of Thai rice.

Besides China, some Middle Eastern countries including Iraq have shown their interest in buying Thai rice, he said.

The Foreign Trade Department yesterday launched a new round of auctions for seven categories of rice from the 2013/2014 crop under the rice pledging scheme to be sold locally and exported, totaling 169,327.99 tonnes from 24 warehouses. There were eight bidders.

It was the first time the government held a regional auction, held in Suphan Buri where a large number of state-owned warehouses are located.

Auctioned rice will be packed into packaged rice for further distribution.

Mr Surasak said the department will hold similar regional auctions in other provinces which will help release rice from state stockpiles. (MCOT online news)

-- TNA 2014-04-10

[Ricardo]

Is this extra to the other Chinese deals, announced last year, also for millions of tons of rice ?

Wonder how those are doing, when the rice was shipped, when payment is due to be received, etc. ?

Edited April 10, 2014 by Ricardo

[Publicus]

Maybe the NACC and the CC too could attend some of the regional auctions. Get to meet some of the people, see some things firsthand. Be given a rousing welcome.

[Gunna]

So they are selling all the new rice first ie 2013/14

What has happened to all the old stuff ?

A lot of it has been stolen, and some of it was never there , even though paid for.

A lot has been eaten by birds, rats and insects.

And a lot is rotten and needs to be thrown out.

Still any shop owner with perishable goods sells older stock first

But of course this Government knows that 2011/12 rice is almost impossible to sell so as it desperately needs money for the farmers

They are still paying storage and interest payments on millions of tons of old stock and want to keep borrowing more money to cover their incompetence.

Enough to get the chairwoman of the Rice Scam convicted in a couple of days

[chainarong]

The wording here is possibly,not sold , once again jumping the gun , reminds me a lot of mining contractors , say they have a contract when they have only just put in a tender.

[ChrisY1]

Pigs and wings comes to mind

[antimedia]

Wasn't it a done deal 2 weeks ago?

[Dogmatix]

The state lottery should be given a chance to bid for it too. They recently ordered a large consignment direct from farmers, although have not yet finished paying of it.

Lottery prizes paid in sacks of rice would increase interest in the tickets.

[Tatsujin]

When I see the "proof" of these "sales" I might believe something is actually happening, but still absolutely NO word from the Govt on what has been sold, how, where, how much, what's left, what's spoiled, etc etc etc

[Now or Never]

What exactly are they selling.

Is it Thai rotten Rice or Burmese rotten Rice, or Cambodian rotten Rice or just what is it?

[rubl]

That's good news, extremely good news. Farmers will rejoice for sure.

I'm only afraid that with this much success soon the rice mountain will be no more and local prices will increase.

Anyway yet another good reason to continue the rice price pledging scheme as customers are flocking around to buy this Thai quality stuff. Reserve your few million tonnes now before the price rises!

BTW when can we have a A4 sheet with preliminary figures on the financial side of the scheme?

Edited April 10, 2014 by rubl

[billsmart]

The government is getting money from somewhere to pay farmers for their 2013 rice. When my wife sold her rice to the government and took her receipts to the bank she was #995 in a queue. About 3 weeks ago she was about #700, and just yesterday she was #480. So it seems the pledges are being slowly paid off. I don't know if this is from money the government took from other funds, borrowed or received from sales of the rice. I'm hoping big rice sales like the one talked about in this article will speed up this process.

[Pimay1]

The wording here is possibly,not sold , once again jumping the gun , reminds me a lot of mining contractors , say they have a contract when they have only just put in a tender.

I fixed it.

China may buy more rice from Thailand may, possibly, perchance, perhaps, maybe, mayhap, peradventure buy more rice from Thailand or they may not.

[Robby nz]

Maybe the NACC and the CC too could attend some of the regional auctions. Get to meet some of the people, see some things firsthand. Be given a rousing welcome.

I doubt somehow that the caretaker Government would like or allow that as then the bids would become public and the prices offered known.

About as many mites might's in these stories as in the stored rice.

Hope for the farmers sake that they can sell a lot of it, but of course they first have to pay off the borrowed 20 billion plus interest before the farmers get any of it.

[bigbamboo]

Good. How much are they willing to pay?

[Lupatria]

After the daily dose of 'hub-gibberish' time to release a daily 'may be' column

[SICHONSTEVE]

So they are selling all the new rice first ie 2013/14

What has happened to all the old stuff ?

A lot of it has been stolen, and some of it was never there , even though paid for.

A lot has been eaten by birds, rats and insects.

And a lot is rotten and needs to be thrown out.

Still any shop owner with perishable goods sells older stock first

But of course this Government knows that 2011/12 rice is almost impossible to sell so as it desperately needs money for the farmers

They are still paying storage and interest payments on millions of tons of old stock and want to keep borrowing more money to cover their incompetence.

Enough to get the chairwoman of the Rice Scam convicted in a couple of days

Especially with super Supa - the 'new star of Thailand' to be brought on board at the NACC.

Make someone unhappy and they will be out to get you, well now she can put Yingluck in concrete!!!!

[Publicus]

Maybe the NACC and the CC too could attend some of the regional auctions. Get to meet some of the people, see some things firsthand. Be given a rousing welcome.

I doubt somehow that the caretaker Government would like or allow that as then the bids would become public and the prices offered known.

About as many mites might's in these stories as in the stored rice.

Hope for the farmers sake that they can sell a lot of it, but of course they first have to pay off the borrowed 20 billion plus interest before the farmers get any of it.

Someone might work a bit on his sense of humor.

[SOTIRIOS]

..may...might...maybe....perhaps.....

...and why not put the amount in question into perspective.....

[drand11]

All you Nay sayers! Seems like that rice is pretty damn good rice afterall!

[Ricardo]

All you Nay sayers! Seems like that rice is pretty damn good rice afterall!

The OP says "The Foreign Trade Department yesterday launched a new round of auctions for seven categories of rice from the 2013/2014 crop" (my bold emphasis).

Nobody I've seen posting has expressed any doubts, about the quality of the most-recent crop of rice, which they are currently offering at-auction. The question is just how well the older crops, from previous years, are going to do when they're eventually put-up for auction. And why isn't that older-stock being cleared first ?

Perhaps you have some source-of-information of your own, which you might share, and which shows that 2-year-old poorly-stored rice is also equally "pretty damn good rice afterall" ?

[rickirs]

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

Is this extra to the other Chinese deals, announced last year, also for millions of tons of rice ?

Wonder how those are doing, when the rice was shipped, when payment is due to be received, etc. ?

If you recall, the dissolution of the parliament and formation of the interim parliament, schedule of new elections, EC Court challenge on new election dates, , PDRC shutdown of government operations (especially with exports), and several EC and Court challenges over the funding of the rice program delayed sales from last October 2013 to March 2014. China had previously cancelled its order from last year due to concerns of an "unsettled" Thai political situation, but this year re-ordered million tons. USA also has announced interest in purchasing a million tons. Yet, I expect for those people who want the program to fail as a means to put more pressure on the government to collapse will be unhappy with any progress in rice sales that would be necessary to pay the farmers all the while they bemoan nonpayment to the poor rice farmers.

Is this extra to the other Chinese deals

[Thai at Heart]

All you Nay sayers! Seems like that rice is pretty damn good rice afterall!

The OP says "The Foreign Trade Department yesterday launched a new round of auctions for seven categories of rice from the 2013/2014 crop" (my bold emphasis).

Nobody I've seen posting has expressed any doubts, about the quality of the most-recent crop of rice, which they are currently offering at-auction. The question is just how well the older crops, from previous years, are going to do when they're eventually put-up for auction. And why isn't that older-stock being cleared first ?

Perhaps you have some source-of-information of your own, which you might share, and which shows that 2-year-old poorly-stored rice is also equally "pretty damn good rice afterall" ?

The stuff from 3 years ago is finished. Basically anything on hand will be unsellable. The losses to mould and damage are going to be enormous.

[rickirs]

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

So they are selling all the new rice first ie 2013/14

What has happened to all the old stuff ?

A lot of it has been stolen, and some of it was never there , even though paid for.

A lot has been eaten by birds, rats and insects.

And a lot is rotten and needs to be thrown out.

Still any shop owner with perishable goods sells older stock first

But of course this Government knows that 2011/12 rice is almost impossible to sell so as it desperately needs money for the farmers

They are still paying storage and interest payments on millions of tons of old stock and want to keep borrowing more money to cover their incompetence.

Enough to get the chairwoman of the Rice Scam convicted in a couple of days

Especially with super Supa - the 'new star of Thailand' to be brought on board at the NACC.

Make someone unhappy and they will be out to get you, well now she can put Yingluck in concrete!!!!

Exactly why someone with a political agenda and personal vendetta should not be a member of an independent investigative committee on corruption. She will not bring any confidence to the NACC that it will conduct itself free of any conflict of interest or political bias. Truly a sad appointment for justice.

[personchester]

In England cities are many "China Town's" particular in London and Manchester with well established food shops.

The food shops are full of Chinese products, but the rice the sell is Thai rice and the Thai rice is purchased by all people.

Therefore it is not surprising that China will purchase a million ton's of Thai rise, it was always done.

[GAZZPA]

Again? This is getting boring, how many times have we read that China, could maybe be planning to buy rice from Thailand. Not sure if they have shipped anything yet and if so for how much money?

Haven't heard what has happened to the rice farmers pay for a while, any ideas?

[drand11]

Here me out. China was going to buy a large quantity of 2013 rice. Due to the political issues in Thailand, China put their order on hold.

Last month, China ordered and Thailand delivered large order. China is now buying more rice. The point is, all the haters said there never was a "Chinese Buyer", that this was all made up by Yingluk and the Rice Scheme. Fact is, there was a buyer and the buyer likes the rice.

Since, USA, Dubai, Philippines and others are buying rice and placing future orders also.

Farmers are being paid now. So lets put that issue to rest also. Loans helped to get it started and now the revenues are coming in.

The good news, the rice sales were projected to be at a 25% loss to Thailand. The actual losses are coming in at around 33%. Not great, but, better than

many were projecting. The best news of all, there will be no "Rice Scheme" for the next Rice Season.

[Skywalker69]

So they are selling all the new rice first ie 2013/14

What has happened to all the old stuff ?

A lot of it has been stolen, and some of it was never there , even though paid for.

A lot has been eaten by birds, rats and insects.

And a lot is rotten and needs to be thrown out.

Still any shop owner with perishable goods sells older stock first

But of course this Government knows that 2011/12 rice is almost impossible to sell so as it desperately needs money for the farmers

They are still paying storage and interest payments on millions of tons of old stock and want to keep borrowing more money to cover their incompetence.

Enough to get the chairwoman of the Rice Scam convicted in a couple of days

What has happened to all the old stuff ?

Repacked and sold in exclusive one-kilo boxes to turist at rediculously expencive prices.

[JesseFrank]

BTW when can we have a A4 sheet with preliminary figures on the financial side of the scheme?

Are you gonna stop with those annoying tricky questions