Rice payments tomorrow

[FritsSikkink]

well, now the former government knows what they needed to do to pay the farmers: throw out the constitution! anyone who thinks YS didn't want the farmers paid is too caught up in their own rhetoric to think clearly. they tried but they were blocked at every turn because the yellow's didn't want the farmers paid- much better for them if it was there to drive a wedge in the government's base.

but it sets a super great precedence: want thing done? throw out the constitution.

super.

The payments where long due before the government stepped back, learn the facts.

[Chris Lawrence]

Just some information on BAAC from their website:

BAAC has played significant roles in boosting rural economy; creating jobs and value addition along the agricultural supply chain. BAAC delivers its innovative products and services through its extensive network. Its lending program, primarily providing retail credit to individual farmers (which are organized into joint liability groups), accounted for 74.5 % of the total loan portfolio and the rest for wholesale credit to farmer institutions, consisting of agricultural cooperatives and farmer associations. Now, BAAC has covered a total of 7.27 million farm households or 95 % of total farm households in Thailand.

As of February 2013, BAAC recorded total assets of 1.18 trillion Baht or US$ 39 billion with loan outstanding of 949 billion Baht or US$ 31 billion. The growth of BAAC assets is mainly due to growth of lending as a result of greater improvement of access to rural finance through its extensive network. Meanwhile its non-performing loans (NPLs) stood at a low rate of 5.78%.

Previously BAAC relied substantially on government budget, overseas borrowings and forced savings from commercial banks as sources of funds. Later, BAAC started its savings mobilization and gradually built up its own strong deposit base and now has become self-reliant in its rural financing functions. Deposits become the main source of BAAC funds accounting for 84% of the total. As a result, BAAC has generated an unprecedented record of 986 billion Baht savings or US$ 33 billion through its famous Thaweesin and Thawechoke savings schemes.

BAAC continues to enter into the government?s agricultural produce pledging scheme, futures market and crop insurance. The bank creates production and marketing linkage through cooperatives and their apex organization - Thai agribusiness Company or TABCO, a company owned 90% by farmers and 10% by BAAC.

Maybe the payments will go back to the bank? Could help with checks and balance?

[15Peter20]

'Rice payments tomorrow' - I like their style because at least we won't have to wait 6 months and forget about their promise once it inevitably isn't delivered. This military junta is being very amenable to its critics, I'll give them that.

Edited May 25, 2014 by 15Peter20

[Piichai]

Anybody know why the stored rice is not being sold on the world market for whatever Thailand can get for it? And the money used to pay at least part of what's owed?

I heard today that under the rules of the WTO (World Trade Organization), subsidized crops and/or subsidized manf goods cannot be sold internationally, as it represents unfair competition. I also heard that the US and other large members of the G8 or G20 were putting a great deal of pressure on Thailand not to sell its warehoused rice on the international market -- or face sanctions if they try.

Has anyone else heard anything about this?

It seems the government tried dumping a load of rice just before they got the boot.

http://www.thaivisa.com/forum/topic/729141-pledging-policy-blamed-for-drastic-fall-in-price-of-thai-rice/

[Credo]

This will be the money that was not available to the ex government?

Let's remember where we are. You can do a lot of things if you don't have a constitution in the way.

So the number of farmers waiting to be paid is 80,000.

Somewhat adrift of the fork tongued PTP spokesman's claim of only 3000.

Expose more lies expose the <deleted> the nation has been fed by the PTP

We don't know the number of people who are owed money. We only know that suddenly who will get paid is 80,000 people. Do you think it would be the first time that some names appeared on the list of who should get money.

[khwaibah]

It's tomorrow. Wheres the f*&King MONEY.

[casualbiker]

It's tomorrow. Wheres the f*&King MONEY.

Are the banks open yet?

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[JesseFrank]

Anybody know why the stored rice is not being sold on the world market for whatever Thailand can get for it? And the money used to pay at least part of what's owed?

I heard today that under the rules of the WTO (World Trade Organization), subsidized crops and/or subsidized manf goods cannot be sold internationally, as it represents unfair competition. I also heard that the US and other large members of the G8 or G20 were putting a great deal of pressure on Thailand not to sell its warehoused rice on the international market -- or face sanctions if they try.

Has anyone else heard anything about this?

The WTO prohibits the dump of products below cost price on the international markets, as that would bring other countries in problem.

[khwaibah]

It's tomorrow. Wheres the f*&King MONEY.

Are the banks open yet?

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The banks have nothing to do with payments only BAAC and yes they are open.

[casualbiker]

BAAC is a bank!!!!

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[Piichai]

It's tomorrow. Wheres the f*&King MONEY.

Are the banks open yet?

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

The banks have nothing to do with payments only BAAC and yes they are open.

An earlier post outlined the process. You may want to look for it.

[Piichai]

So the number of farmers waiting to be paid is 80,000.

Somewhat adrift of the fork tongued PTP spokesman's claim of only 3000.

Expose more lies expose the <deleted> the nation has been fed by the PTP

We don't know the number of people who are owed money. We only know that suddenly who will get paid is 80,000 people. Do you think it would be the first time that some names appeared on the list of who should get money.

So you are accusing the military of adding 77,000 names to the list.

My observation is that Prayuth doesn't suffer monkey business gladly.

The odds are greater that PTP lied.

Again.

[gemini81]

It's tomorrow. Wheres the f*&King MONEY.

Are the banks open yet?

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

The banks have nothing to do with payments only BAAC and yes they are open.

Army gets more done in 1 week than PTP in 3 years.

[gemini81]

It's tomorrow. Wheres the f*&King MONEY.

In the Shinawatra bank accounts; duh.

[Robby nz]

This will be the money that was not available to the ex government?

Let's remember where we are. You can do a lot of things if you don't have a constitution in the way.

So the number of farmers waiting to be paid is 80,000.

Somewhat adrift of the fork tongued PTP spokesman's claim of only 3000.

Expose more lies expose the <deleted> the nation has been fed by the PTP

We don't know the number of people who are owed money. We only know that suddenly who will get paid is 80,000 people. Do you think it would be the first time that some names appeared on the list of who should get money.

There is no list as such.

Farmers were given papers in their names that detailed the amount of rice they had sold and how much the BACC, who are agents for the government, should have paid them.

The farmers still have these papers and upon presenting them at the appropriate branch of the BACC will now be paid the sum detailed on the papers.

[khwaibah]

This will be the money that was not available to the ex government?

Let's remember where we are. You can do a lot of things if you don't have a constitution in the way.

So the number of farmers waiting to be paid is 80,000.

Somewhat adrift of the fork tongued PTP spokesman's claim of only 3000.

Expose more lies expose the <deleted> the nation has been fed by the PTP

We don't know the number of people who are owed money. We only know that suddenly who will get paid is 80,000 people. Do you think it would be the first time that some names appeared on the list of who should get money.

There is no list as such.

Farmers were given papers in their names that detailed the amount of rice they had sold and how much the BACC, who are agents for the government, should have paid them.

The farmers still have these papers and upon presenting them at the appropriate branch of the BACC will now be paid the sum detailed on the papers.

Your correct on this but it is the Baac. http://www.baac.or.th/baac_en/

[Robby nz]

There is no list as such.

Farmers were given papers in their names that detailed the amount of rice they had sold and how much the BACC, who are agents for the government, should have paid them.

The farmers still have these papers and upon presenting them at the appropriate branch of the BACC will now be paid the sum detailed on the papers.

Your correct on this but it is the Baac. http://www.baac.or.th/baac_en/I

I stand corrected on the bank initials.

However in a news item, for the unbelievers.

Posted 49 minutes ago

In a related development, the Bank for Bank for Agriculture and Agricultural Cooperatives (BAAC) today will begin paying farmers waiting for money under the rice pledging scheme.

The BAAC has set aside Bt40 billion for the initial payment while another Bt50 billion would be acquired through loans from other financial institutions as soon as possible.

The payment came after the NCPO announcement that the payments are its priority to ease the hardship of farmers. (MCOT online news)

-- TNA 2014-05-26

[Farma]

In our area the local BAAC branch has a list of farmers owed money. They also took contact phone numbers and would call them if or when money was available.

The list is long with some family members at 2000 on the list. I've heard of others including relatives of the branch staff placed at 4000 on the list.

[khwaibah]

BAAC begins Bt40 bln payout to farmers awaiting rice pledging scheme money; set to pay total Bt92.4 bln by June 30 /MCOT

[gemini81]

BAAC begins Bt40 bln payout to farmers awaiting rice pledging scheme money; set to pay total Bt92.4 bln by June 30 /MCOT

PTP would have never gotten that into motion in a million light years, just transferring it into the demagogue's family assets.

[kieran2698]

Absolutely no excuse for not paying the farmers....

Apart from the blatant effort from the opposition to ensure that they could not be paid.

Not so - a blatant effort by the opposition to stop them borrowing more tom pay for it - rather than using the money they already had borrowed, earned and held for that reason - and a blatant effort to sop them breaking the constitution by borrowing in the country's name with no legal mandate to do so (i.e. caretaker mode).

I was referring to the blatant effort to prevent deals going through when they tried to sell the rice to China, long before they tried to borrow the money.

[Bkkbound]

Pictures of farmers being piaid widespread across thai social media, lots of happy farmers, the military are playing this very well...

[JesseFrank]

Now take a look here.

http://www.thaivisa.com/forum/topic/729132-thailand-live-monday-26-may-2014/?p=7886559

It goes from 1 million farmers which still need to be paid, to only 11.000 in thew whole of Chiangmai, for a total of 800 Million Baht.

Someone is clearly playing with numbers.

[casualbiker]

Now take a look here.

http://www.thaivisa.com/forum/topic/729132-thailand-live-monday-26-may-2014/?p=7886559

It goes from 1 million farmers which still need to be paid, to only 11.000 in thew whole of Chiangmai, for a total of 800 Million Baht.

Someone is clearly playing with numbers.

That's just Chiang Mai.

And CM was one of the first provinces to receive payment on the 1st harvested, 1st paid system.

So if there are STILL outstanding payments there then in other provinces there will be A LOT MORE!

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[JesseFrank]

Now take a look here.

http://www.thaivisa.com/forum/topic/729132-thailand-live-monday-26-may-2014/?p=7886559

It goes from 1 million farmers which still need to be paid, to only 11.000 in thew whole of Chiangmai, for a total of 800 Million Baht.

Someone is clearly playing with numbers.

That's just Chiang Mai.

And CM was one of the first provinces to receive payment on the 1st harvested, 1st paid system.

So if there are STILL outstanding payments there then in other provinces there will be A LOT MORE!

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Did you read the first line in the article ?

Instruction to pay almost a million rice farmers suffering from delayed payment by the Yingluck government

[boomerangutang]

Will the program be extended? Pretty much everyone, except the farmers on the receiving end, will admit it's a highly flawed program. Thaksin declared in August 2012 that it was good. Yingluck tried to kill the program last summer, but farmers wouldn't let her (they threatened to drive their tractors to Bangkok in protest).

Military bosses will have to make a tough decision - whether to continue such a problematic program. We armchair pontificators can sit back and claim it's good to reward farmers, but in reality, it's mostly well-off millers and well-heeled farmers who get money. Small substinence farmers are too small to qualify for the program, so the program is another way to enable the rich to get richer and the poor to continue to suffer.

How 'bout letting the marketplace decide? Naw, it's more fun to manipulate it like a political game, using other peoples' money - that's what the Shinawatres are adept at.

[Robby nz]

As I posted somewhere before the BAAC manager in Kalasin said there were 800 farmers owed 55 million from his bank so the debts are all over.

Also unconfirmed reports that the general has ordered audits of all rice warehouses.

If true it will reveal just what is there and what condition it is in.

The net closes.

[bkkgooner]

Amazing stuff from the army, thank you oh great ones.

Maybe they can order an examination of their own disgustingly bloated budget next

[connda]

Excellent. Hopefully the rice farmers will get back on track, albeit, having learned a value lesson about the level of trust one should put into their government.

[casualbiker]

Now take a look here.

http://www.thaivisa.com/forum/topic/729132-thailand-live-monday-26-may-2014/?p=7886559

It goes from 1 million farmers which still need to be paid, to only 11.000 in thew whole of Chiangmai, for a total of 800 Million Baht.

Someone is clearly playing with numbers.

That's just Chiang Mai.

And CM was one of the first provinces to receive payment on the 1st harvested, 1st paid system.

So if there are STILL outstanding payments there then in other provinces there will be A LOT MORE!

Sent from my XT1032 using Thaivisa Connect Thailand mobile app

Did you read the first line in the article ?

Instruction to pay almost a million rice farmers suffering from delayed payment by the Yingluck government

I did. Then I read and understood the rest of the article. Part of which was

" BAAC Chiang Mai branch director Sakchai Kamruangrit said all 25 branches in Chiang Mai would begin paying the remaining 11,300 farmers who have entered the rice pledging scheme for the 2013/2014 harvest season with unpaid sum of 800 million baht."

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