TREA optimistic on whole-stock rice auction plan

BANGKOK, 20 December 2014 (NNT) – The Thai Rice Exporters Association (TREA)’s President is positive on the new rice auction scheme, claiming it will effectively help releasing the in-stock rice while lessening the government’s burden.

According to the TREA President Pol.Lt Chareon Laothamatas, the new rice auction system that allows private companies to bid for rice in whole stock will help release the in-stock rice to the market effectively.

He said that the new system will also allow private companies to check the rice quality before proposing the price to the Ministry of Commerce, which would reduce the rice quality issue, provide a for more coordinated management system, and help the government to reduce the cost of rice storage, currently at 2 billion baht a month.

He also said that Thai rice will still sell in the global market despite having higher price than rice from other countries.

The price for Thai rice in the global market is at USD 410-415 per ton, while Vietnamese rice is priced at USD 405 per ton, and Pakistani rice is priced at USD 335 per ton.

The TREA President said that the export amount of Thai rice this year will be at 10.5-10.6 million tonnes, which is the highest export rate, while the next year's exports are expected to be at 10 million tonnes.

-- NNT 2014-12-20

Pay a higher price for rotten rice , that is real Thai logic .

Allowing private companies to check rice quality? Can they install cctv and secret micro GPS probes to watch and track the rice from storage to packaging to container to ship?

In Thailand, the dog and pony show can easily become a flea circus in a blink of an eye.

Edited December 21, 201411 yr by tomyummer

So Thailand will try and sell 10.5 m tons this year to regain no.1 position......flood the market with deteriorating rice....and expect the top price over Vietnam and Pakistan....(no mention of India)........

Thai logic at work again??

Always optimism about what they are going to do.

Never any good news about what has happened.

This is the Thai version of buffalo shit.

As if they buyers would offer anything near to what

the rice is worth (the good rice),collusion would never

happen in Thailand,right,they know the Govt. is between

a rock and a hard place,and the prices offered will reflect this.

regards Worgeordie

Many TVer's have questioned how the Junta can sell such high volumes of rice at market prices given Gen. Prayuth's announcement that 80% of the stockpile largely created during the Yingluck regime was rotten? The common conclusion is that nations must be really stupid to not realize the quality of the rice, Gen. Prayuth is a really good salesman, and nations are paying billions of baht for bad rice they never inspected. But maybe there is a more rationale answer, albeit the most politically undesirable:

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RICE-PLEDGING SCHEME

'80% of rice is fine'

The Nation July 29, 2014 1:00 am

Only 10 per cent of rice stockpiles has spoiled and only some sacks were missing, while 80 per cent was in still good condition, the rice inspection committee reported to the Rice Policy Committee meeting yesterday.

The audit of 18 million tonnes of pledged rice stored in granaries has progressed by 72 per cent to 1,290 out of 1,787 locations nationwide.

*********************************************************************************************************************************************************************************

Gen. Prayuth then announces in December 2014 that Thailand has again become the world's largest supplier of rice. Amazing with such a small amount of saleable rice. Perhaps there is a personal motivation involved in the contradiction - to promote his image as the nation's leader.

"Truth, like light, blinds. Falsehood, on the contrary, is a beautiful twilight that enhances every object." - Albert Camus, The Fall

.

Many TVer's have questioned how the Junta can sell such high volumes of rice at market prices given Gen. Prayuth's announcement that 80% of the stockpile largely created during the Yingluck regime was rotten? The common conclusion is that nations must be really stupid to not realize the quality of the rice, Gen. Prayuth is a really good salesman, and nations are paying billions of baht for bad rice they never inspected. But maybe there is a more rationale answer, albeit the most politically undesirable:

*********************************************************************************************************************************************************************************

RICE-PLEDGING SCHEME

'80% of rice is fine'

The Nation July 29, 2014 1:00 am

Only 10 per cent of rice stockpiles has spoiled and only some sacks were missing, while 80 per cent was in still good condition, the rice inspection committee reported to the Rice Policy Committee meeting yesterday.

The audit of 18 million tonnes of pledged rice stored in granaries has progressed by 72 per cent to 1,290 out of 1,787 locations nationwide.

*********************************************************************************************************************************************************************************

Gen. Prayuth then announces in December 2014 that Thailand has again become the world's largest supplier of rice. Amazing with such a small amount of saleable rice. Perhaps there is a personal motivation involved in the contradiction - to promote his image as the nation's leader.

"Truth, like light, blinds. Falsehood, on the contrary, is a beautiful twilight that enhances every object." - Albert Camus, The Fall

.

Gee... Like the 37 million tons of new seasons rice is a small amount?