Two men charged with stealing Thai rice worth Bt98m from warehouse

[metisdead]

A post that has exceeded the nested quote limit has been removed because it was too messed up to make head or tail of who said what. Please try to minimize nested quotes to the one or two that you are actually replying to. Thanks.

 

[nong38]

Fancy getting caught, how did that happen?

Surely the police were not doing there job, surely not!

[skorchio]

Now, what about the big stuff? The folks who designed the idea of a rice scham ..... who were they? Where are those folks? At a birthday party .....

 

[Thai at Heart]

 

 

 

The write-offs of missing and spoiled-rice are yet-to-come, the temporary-finance for the scheme will all have to be repaid eventually, the cost will go a lot higher yet.
 
And as jaidam rightly says, the previous good-reputation of Thai rice has been seriously-damaged, long-term.
 
Thai farmers will be suffering lower-prices for several years to come, as a direct consequence of Thaksin's brain-wave, to corner the world market for rice !  
 
But why complain, or blame Yingluck & the Reds, they're only poor farmers.
 
Oh, and all the Thai consumers, who've been paying a higher-price on the domestic market, for their staple rice, over the past few years.
 
They have all been well-and-truly shafted, by a master-manipulator, which I myself don't consider at all a piddling affair.
 

Got to learn from you just what long term reputation has been damaged and how farmers will suffer from lower price. Thailand will likely to gain back it's number 1 rice export nation this year and likely to retain this spot for few years. Rice is a soft commodity and the only influenced and affected by supply and demand. It's not a brand like McDonald that will take a knock to its brand from the expired chicken and even this only temporary.

Rice price has risen 6% recently and not because of market manipulation but simply because the market tightened. The junta audit and not releasing stock may be reason also lesser production from Vietnam and India.

Bitter lesson learned from trying to manupulate commodity price and previous government gambled wrongly that price will rise. They paid a price and the junta did right to stop the policy. Reputation has been restored judging from the impending rice sales. Rice price from henceforth will reflect market pricing influenced by supply and demand, not Taksin or Yingluck.

 

Thai rice, especially Hom Mali, was previously thought to be good-quality, but what's recently been exported is older, and sometimes contains imported rice from Burma/Laos/Cambodia, there is also the constant temptation to shift some of the mildewed-rice or that which is insect/ratshit-tainted. Thus the previous good reputation has been damaged, and this will continue for three years, while the current-stocks are being offloaded, unless very strict quality-controls on exports are imposed.

 

The local market is now in over-supply, thanks to the large stocks built-up, and this will depress what the farmers can get for their new-crop rice, thus farmers are likely to suffer for at least the next three years, and longer if Thai rice doesn't recover any quality-premium which it may previously have enjoyed. Importers of generic rice, in Africa & the Middle-east, were previously complaining about the quality of what Thailand had sent them, are you sure that they won't be more-reluctant to buy from here in future ?

 

The recovery of the number-1 slot as a rice-exporter will be due to selling-off existing-stocks, although savvy importers will demand (and might even sometimes get  ...  who knows ?) new-crop Thai rice, thus volume alone will not necessarily achieve top-price in the world-market. Buyers of quality-rice have become accustomed to other sources-of-supply, over the past few years, they won't automatically switch back again.

 

 

 

The top quality Hom Mali has still been selling.  It is the poorer quality low value stuff that is sitting in the warehouse.  Hom Mali only makes up 20% of the total exports.  There isn't a whole lot of hom mali left from what I have read on orzya

[Local Drunk]

 

Now we see some progress, however are these characters just the fall guys for others  and who  may well be able to   sing loud enough to trace the  tail  of the  ''missing '' rice stock/ 978 million baht, seems a tad strange to me that with that being stated as the sum involved why are these two characters still here in Thailand?
 
Methinks they are but small cogs in a far larger machine with many cogs and gears that connect in a very convoluted fashion..

What? They nicked some rice. U think this is some major national conspiracy? Strewth

 

 

Considering that the government that proposed this policy is not now in power and that the aforementioned government that was in power initiated this policy and was therefore legally and morally bound by law to uphold the law of paying over the market value for rice to farmers that couldn't get paid until there was a coup to get them paid.

 

I'd say yes! It was a conspiracy at the highest levels of government; hence, a national conspiracy. 

Edited July 31, 2014 by Local Drunk

[Thai at Heart]

 

 

Now we see some progress, however are these characters just the fall guys for others  and who  may well be able to   sing loud enough to trace the  tail  of the  ''missing '' rice stock/ 978 million baht, seems a tad strange to me that with that being stated as the sum involved why are these two characters still here in Thailand?
 
Methinks they are but small cogs in a far larger machine with many cogs and gears that connect in a very convoluted fashion..

What? They nicked some rice. U think this is some major national conspiracy? Strewth

 

 

Considering that the government that proposed this policy is not now in power and that the aforementioned government that was in power initiated this policy and was therefore legally and morally bound by law to uphold the law of paying over the market value for rice to farmers that couldn't get paid until there was a coup. 

 

I'd say yes! It was a conspiracy at the highest levels of government; hence, a national conspiracy. 

 

 

 

They have already admitted that there is a relatively small amount of rice missing, and that there is 80% of it all ok.  If someone was attempting to store rice in an environment like Thailand with the climate as it is, I would reckon that after 3 or 4 years, the losses would be around this level.  

[Local Drunk]

 

 

 

Now we see some progress, however are these characters just the fall guys for others  and who  may well be able to   sing loud enough to trace the  tail  of the  ''missing '' rice stock/ 978 million baht, seems a tad strange to me that with that being stated as the sum involved why are these two characters still here in Thailand?
 
Methinks they are but small cogs in a far larger machine with many cogs and gears that connect in a very convoluted fashion..

What? They nicked some rice. U think this is some major national conspiracy? Strewth

 

 

Considering that the government that proposed this policy is not now in power and that the aforementioned government that was in power initiated this policy and was therefore legally and morally bound by law to uphold the law of paying over the market value for rice to farmers that couldn't get paid until there was a coup. 

 

I'd say yes! It was a conspiracy at the highest levels of government; hence, a national conspiracy. 

 

 

 

They have already admitted that there is a relatively small amount of rice missing, and that there is 80% of it all ok.  If someone was attempting to store rice in an environment like Thailand with the climate as it is, I would reckon that after 3 or 4 years, the losses would be around this level.  

 

 

Ok... So Thailand is sitting on millions of tons over priced rice. Whats a 20% loss  of let's say 20 million metric tons of rice? What's the loss when the rice is sold on the open market? Perhaps enough to pay the farmers that sold it. I ain't gonna do the math on that one... 

 

[Thai at Heart]

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 [quote name="siampolee" post="8175595" timestamp="1406766155"]
Now we see some progress, however are these characters just the fall guys for others  and who  may well be able to   sing loud enough to trace the  tail  of the  ''missing '' rice stock/ 978 million baht, seems a tad strange to me that with that being stated as the sum involved why are these two characters still here in Thailand?
 
Methinks they are but small cogs in a far larger machine with many cogs and gears that connect in a very convoluted fashion..
[/quote]
What? They nicked some rice. U think this is some major national conspiracy? Strewth
 [/quote]
 
Considering that the government that proposed this policy is not now in power and that the aforementioned government that was in power initiated this policy and was therefore legally and morally bound by law to uphold the law of paying over the market value for rice to farmers that couldn't get paid until there was a coup. 
 
I'd say yes! It was a conspiracy at the highest levels of government; hence, a national conspiracy. 
 [/quote]
 
 
They have already admitted that there is a relatively small amount of rice missing, and that there is 80% of it all ok.  If someone was attempting to store rice in an environment like Thailand with the climate as it is, I would reckon that after 3 or 4 years, the losses would be around this level.  
 [/quote]
 
Ok... So Thailand is sitting on millions of tons over priced rice. Whats a 20% loss  of let's say 20 million metric tons of rice? What's the loss when the rice is sold on the open market? Perhaps enough to pay the farmers that sold it. I ain't gonna do the math on that one... 
 [/quote]

The point is none of this surprises me one bit and the losses don't indicate anything like a massive fraud or con. This was going to be basically the outcome without any corruption whatsoever.

[kimamey]

 

worgeordie, on 31 Jul 2014 - 10:48, said:

This is just the tip of the iceberg,more to come for sure. 

regards Worgeordie

More to come, maybe, but only if the junta is serious or only just waving the flag to make it appear to be serious. So far, I can not remember anyone, in all of Thailand, actually seeing their day in court, being sentenced and actually doing time... by the way, why hasn't that dick, the red Bull heir, been brought to stand trial.

 

 

As far as I know because he's not in the country.
 

[Trouble]

Now we see some progress, however are these characters just the fall guys for others  and who  may well be able to   sing loud enough to trace the  tail  of the  ''missing '' rice stock/ 978 million baht, seems a tad strange to me that with that being stated as the sum involved why are these two characters still here in Thailand?

 

Methinks they are but small cogs in a far larger machine with many cogs and gears that connect in a very convoluted fashion..

 

Please keep looking for the the massive conspiracy in the rice scheme.  Why is it so difficult to believe people at any level, in any position might figure a way to steal the rice, sell it, and profit from the theft.  This is Amazing Thailand.