Farmers bank says 1.393 million Thai farmers paid of 180 billion baht

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Farmers bank says 1.393 million farmers paid of 180 billion baht



BANGKOK: -- The Bank for Agriculture and Agricultural Cooperatives says so far it has paid 1,393,678 farmers, amounted to a total of 180.33 billion baht for 10.97 million tons of paddy they pledged.

The famers who were paid are among a total of 1,671,720 farmers who pledged 11.64 million tons of their paddy worth 193 billion baht under the rice pledging scheme for the 2013/2014 harvest year.

It said 195.42 billion baht has been allocated for the payment. The money was broken down to 164.9 billion baht from Marino budget, rice-sales, 10.5 billion baht from rice fund, 20 billion baht from the borrowed Central Fund.

The bank said a total of 278,042 farmers are still left unpaid of 12.62 billion baht for the 0.67 million ton of paddy they had pledged.

But it said earlier all farmers will be paid by end of this month.

Full story: http://englishnews.thaipbs.or.th/farmers-bank-says-1-393-million-farmers-paid-180-billion-baht/


-- Thai PBS 2014-06-13

[rubl]

One of these days we may get a clear, understandable description of all of this I hope.

What does "164,9 billion Baht from Marino budget, rice sales" mean? What part is actually from rice sales? THe rest seems from money borrowed which needs to be paid back. In case of the 20 billion from the Central Fund already paid back before the end of May (I hope?)

[Chupup]

Amazsing Thailand well done the army, kinda it look easy

[GuestHouse]

And there are still 278,042 waiting to be payed - That's a 275,042 more than the 3000 unpaid farmers claimed by the PTP liars.

[Robby nz]

Great that most of the farmers have now been paid and the rest will be paid before the end of the month.

The next step is a full accounting of the whole scheme to see where the money has gone and how much rice of what type is in storage and in what condition.

This will not be over quickly, the scheme will have long lasting implications on the Thai economy.

There is still the original 500 billion, the 270 billion top up and now whatever has been borrowed to facilitate the present payments, around 900 billion all told, that must be paid back to the Thai people.

The rice on hand will certainly not pay for that.

Then there are the ongoing costs of storage and maintainence (fumigation etc) that will have to come from somewhere.

I read one estimate that said it would take at least 6 years to clear the stockpiles and the debt burden on the economy.

The ongoing impact on the farmers is another aspect for it would appear that the attempts to sell the stockpiles over the 6 months before the army took over have forced world prices, or at least Asian prices, down to a level where the farmers are no longer making a profit.

How this can be addressed without subsidies remains to be seen.

As the General says the best way may be to lower production costs and get Thailand back to a position where its rice is known as a premium quality product that is in demand over others.

[UbonRatch]

How this can be addressed without subsidies remains to be seen.

As the General says the best way may be to lower production costs and get Thailand back to a position where its rice is known as a premium quality product that is in demand over others.

Address it by scrapping the whole darned lot of old stock storage. Forget it, and write it off as a bad loss.

Start again, at pre-pledging prices (+ inflation), and carry on with all new harvests and stocks, and get back onto the real stage - without foreign investor worry about what exactly they are purchasing.

Then consider production costs, but at least get everything back on an even keel first.

[lomatopo]

In other news, betting on World Cup matches to approach 150 billion baht.

Seriously, that's a lot of money being pumped into the economy.

[thumper101]

In other news, betting on World Cup matches to approach 150 billion baht.

Seriously, that's a lot of money being pumped into the economy.

Erm.... Apart from it being totally off-topic.

If anything, money is leaving the economy if they are using the big offshore gambling sites. The Thai to Thai gambling isn't injecting a single baht into the economy.... it is just revolving around and is totally untaxed.

You don't seem to have got a single thing right on any news article today.

Back on topic.

Once the farmers have been paid out, they can put a big freeze on this scheme and do a full audit... I swear this is going to put possibly hundreds of crooks in prison for a long time as well as seeing quite a lot leaving for a different country to live in.... I suggest starting with Nattawut Transport... Ask the question why a deputy PM got the contract for transporting rice, and why the company was shunting rice from warehouse to warehouse for no logical reason??? I thought it was illegal for a politician of a ruling party to get awarded government contracts under 'self interest' laws?.. Oh I forgot... PTP don't have to follow the rules.

[winstonc]

like punch and judy......thats the way to do it.....are you paying attention yingy..

[lomatopo]

Erm.... Apart from it being totally off-topic.

If anything, money is leaving the economy if they are using the big offshore gambling sites. The Thai to Thai gambling isn't injecting a single baht into the economy.... it is just revolving around and is totally untaxed.

You don't seem to have got a single thing right on any news article today.

Back on topic.

The two statements were independent. With some extra cash on hand I imagine a little is getting wagered locally?

But paying out 180 billion baht is pumping a lot of money into the economy, surely you can understand that single, simple concept? Which, by the way was meant as a positive thing.

Edited June 13, 2014 by lomatopo

[worgeordie]

Whats the Marino budget ?, does not sound very Thai.

Googled it and all that came up was budget hotels in

San Marino.

regards worgeordie

[djjamie]

PTP lied 3 times before house dissolution that they had the money in budget to pay the farmers up until February 2014. They lied.

PTP promised 4 times after house dissolution that the farmers would be paid. 4 broken promises later they were still not paid.

General Prayuth promised they would all be paid by the end of June. Actions speak louder than words.

I do not care what anyone says. The PTP said they had the money in budget 3 times when they knew they didn't. They made a promise that irrespective of why the farmers were not paid the promise should not have been made. Do not make a promise unless you can follow through with it. That is called holding the population in contempt.

The road to democracy is steaming along swimmingly. The farmers are happy and they have money to pay for food, education for the kids and a life style albeit one that is still bordering on the poverty line. Though with the new initiatives under the democracy restoration team this "poverty line" will be no longer after they empower the farmers to reduce production costs.

Can't ague with progress which has been sadly missing for 3 years.

[ChrisY1]

like punch and judy......thats the way to do it.....are you paying attention yingy..

She's probably reading and listening....but nothing would be sinking in....her brother designed the scheme...and she thinks the sun shines out of him....

[ChrisY1]

Whats the Marino budget ?, does not sound very Thai.

Googled it and all that came up was budget hotels in

San Marino.

regards worgeordie

Probably has something to do with the price of wool???.......just meant to confuse everyone!

[FangFerang]

How this can be addressed without subsidies remains to be seen.

As the General says the best way may be to lower production costs and get Thailand back to a position where its rice is known as a premium quality product that is in demand over others.

Address it by scrapping the whole darned lot of old stock storage. Forget it, and write it off as a bad loss.

Start again, at pre-pledging prices (+ inflation), and carry on with all new harvests and stocks, and get back onto the real stage - without foreign investor worry about what exactly they are purchasing.

Then consider production costs, but at least get everything back on an even keel first.

I agree with you, but when rice goes bad it is not worthless -- it can be used for biofuel, for livestock feed, for fertilizer, and many other uses. Just because something is not fit for human consumption does not mean it is worthless.

Just a thought.

[FangFerang]

PTP lied 3 times before house dissolution that they had the money in budget to pay the farmers up until February 2014. They lied.

PTP promised 4 times after house dissolution that the farmers would be paid. 4 broken promises later they were still not paid.

General Prayuth promised they would all be paid by the end of June. Actions speak louder than words.

I do not care what anyone says. The PTP said they had the money in budget 3 times when they knew they didn't. They made a promise that irrespective of why the farmers were not paid the promise should not have been made. Do not make a promise unless you can follow through with it. That is called holding the population in contempt.

The road to democracy is steaming along swimmingly. The farmers are happy and they have money to pay for food, education for the kids and a life style albeit one that is still bordering on the poverty line. Though with the new initiatives under the democracy restoration team this "poverty line" will be no longer after they empower the farmers to reduce production costs.

Can't ague with progress which has been sadly missing for 3 years.

I have to ask you: why was no money available when PTP was in power and suddenly "a miracle occurs" and the money is made available?

Sounds like selective guarantors to me...

I agree the military is keeping the two sides from inciting violence, and that is really good since both sides seemed quite happy to incite blood on the streets while their leaders (both sides) were very comfortably far away..after that it all gets hazy. The previous government's programs are now going through as 'new' programs'... Money is suddenly available for funded programs, like some whack-a-mole funding is somehow more responsible... The projects are scrutinized, and all but a few are being derailed (bullet train pun here). Except the violent part I already mentioned (and hate) there are very few legal changes to straighten out the landscape, there are very few laws to permanently stifle corrupt cops and taxi drivers...

I think in two years it will be same-same. History strongly suggests it, and hope has little value in the face of an ongoing avalanche.

This momentum is forty years in the making, before Shincorp and Yellows even existed. Expecting the sun to rise in the West is a bit presumptuous...

[marcusd]

And there are still 278,042 waiting to be payed - That's a 275,042 more than the 3000 unpaid farmers claimed by the PTP liars.

and 1.3 million less PTP voters if a decent party for ALL THAILAND steps up

[TedM]

One of these days we may get a clear, understandable description of all of this I hope.

What does "164,9 billion Baht from Marino budget, rice sales" mean?

Perhaps it has something to do with reconciliation as in Dan Marino throwing a football to previous adversary Jerry Rice

Seriously though, it's terrific that so many farmers are finally getting paid after waiting for so long through the broken promises of Yingluck.

Edited June 13, 2014 by TedM

[realenglish1]

I half to chime in here. It was a tragedy that the farmers where not paid under the last government. This is the direct fault of the party who set up this ridiculous scheme in the beginning . Do what other countries do in the future. Just direct subsidies to farmers to grow or not grow rice Its that simple. If there is over production pay them not to produce. This is the most successful way of managing the situation. This will encorage farmers to produce other crops as well

Stop with these hair brained schemes of buying rice at inflated prices. This is rife with corruption . I am Farang and I take my hat off to the Coup Leader for doing the right thing and making sure the farmers all got paid

They are the backbone of Thailand and fill the stomachs of the nation We should all be proud of any farmer and the work they do. This one time I will say it HALE TO THE CHIEF you did a very good thing looking after the farmers and my gut tells me you will do many other great things for the country and the Thai people . This is your opportunity to go into the history books in a positive manner.

My guess is if you keep this up a door will open for you to run for Prime Minister in the Future. I wish you the best I believe your heart is in the right place

[sean in udon]

PTP lied 3 times before house dissolution that they had the money in budget to pay the farmers up until February 2014. They lied.

PTP promised 4 times after house dissolution that the farmers would be paid. 4 broken promises later they were still not paid.

General Prayuth promised they would all be paid by the end of June. Actions speak louder than words.

I do not care what anyone says. The PTP said they had the money in budget 3 times when they knew they didn't. They made a promise that irrespective of why the farmers were not paid the promise should not have been made. Do not make a promise unless you can follow through with it. That is called holding the population in contempt.

The road to democracy is steaming along swimmingly. The farmers are happy and they have money to pay for food, education for the kids and a life style albeit one that is still bordering on the poverty line. Though with the new initiatives under the democracy restoration team this "poverty line" will be no longer after they empower the farmers to reduce production costs.

Can't ague with progress which has been sadly missing for 3 years.

I have to ask you: why was no money available when PTP was in power and suddenly "a miracle occurs" and the money is made available?

Sounds like selective guarantors to me...

Seems more like a trust issue to me.

Generally, people with common sense and businesses with good business sense, tend to avoid lending money to anybody who repeatedly lies.

Back to the farmers. Fantastic news for them. Anybody know if the main stream international press are sharing this news?

Sent from my iPhone using Thaivisa Connect Thailand

Edited June 13, 2014 by sean in udon

[djjamie]

PTP lied 3 times before house dissolution that they had the money in budget to pay the farmers up until February 2014. They lied.

PTP promised 4 times after house dissolution that the farmers would be paid. 4 broken promises later they were still not paid.

General Prayuth promised they would all be paid by the end of June. Actions speak louder than words.

I do not care what anyone says. The PTP said they had the money in budget 3 times when they knew they didn't. They made a promise that irrespective of why the farmers were not paid the promise should not have been made. Do not make a promise unless you can follow through with it. That is called holding the population in contempt.

The road to democracy is steaming along swimmingly. The farmers are happy and they have money to pay for food, education for the kids and a life style albeit one that is still bordering on the poverty line. Though with the new initiatives under the democracy restoration team this "poverty line" will be no longer after they empower the farmers to reduce production costs.

Can't ague with progress which has been sadly missing for 3 years.

I have to ask you: why was no money available when PTP was in power and suddenly "a miracle occurs" and the money is made available?

Sounds like selective guarantors to me...

I agree the military is keeping the two sides from inciting violence, and that is really good since both sides seemed quite happy to incite blood on the streets while their leaders (both sides) were very comfortably far away..after that it all gets hazy. The previous government's programs are now going through as 'new' programs'... Money is suddenly available for funded programs, like some whack-a-mole funding is somehow more responsible... The projects are scrutinized, and all but a few are being derailed (bullet train pun here). Except the violent part I already mentioned (and hate) there are very few legal changes to straighten out the landscape, there are very few laws to permanently stifle corrupt cops and taxi drivers...

I think in two years it will be same-same. History strongly suggests it, and hope has little value in the face of an ongoing avalanche.

This momentum is forty years in the making, before Shincorp and Yellows even existed. Expecting the sun to rise in the West is a bit presumptuous...

The money was available when the PTP were in power. They stated 3 times the money was available.

They stated it was available on the 13th of September 2013 - The cabinet approved a total budget of 270 billion baht for the government’s rice pledging scheme, Deputy Commerce Minister Yanyong Puangraj. They said they had the money.

They stated it was available on the 8th of October - The Finance Ministry said they had the funding to meet the 270 billion baht target already approved by the cabinet to be used for the 2013-14 harvests. They said they had the money.

​They stated it was available on the 21st of November through the commerce ministry.

They lied. Plain and simple. They lied.

To reiterate. The PTP lied.

Then they made 4 promises the farmers would be paid and they lied.

To reiterate. They lied.

Edited June 13, 2014 by djjamie

[khaowong1]

Now the next step, and I'm sure this is happening, is find out where all the money went..

[Chris Lawrence]

My prediction is that they will keep the rice scheme in some form. Most countries have subsidy programs. It will give the junta kudos with the farmers and a lot less expensive then spending on

infrastructure programs.

[Ricardo]

I look forward to Jonathan Head interviewing the rice-farmers, and hearing how pleased they are that this problem has finally been solved, following the coup !

I hope to hear eventually that the many bonds/loans incurred by the previous administration, to finance this 'grand idea', have finally been paid-back !

And I hope that nobody is in any doubt, about just whose idea it all was, give the credit to the Big Boss who fully deserves it !

But the problems of selling-off the remaining-stocks, and finding a sensible/affordable way to help the farmers reform their industry, are yet to be solved.

It will go on for some time yet.

[Dap]

I look forward to Jonathan Head interviewing the rice-farmers, and hearing how pleased they are that this problem has finally been solved, following the coup !

I hope to hear eventually that the many bonds/loans incurred by the previous administration, to finance this 'grand idea', have finally been paid-back !

And I hope that nobody is in any doubt, about just whose idea it all was, give the credit to the Big Boss who fully deserves it !

But the problems of selling-off the remaining-stocks, and finding a sensible/affordable way to help the farmers reform their industry, are yet to be solved.

It will go on for some time yet.

Am waiting (w/great relish) the outcome of the "new" 1800 (or so) rice storage facilities audit.