Thai government likely to lose heavily from auction of spoilt rice

[h90]

I do not believe this JUNTA. Not one word and there no better than the previous. I first thought they had great intentions. But like most things here it is not real. How habndy they lost money and who really cares. they been crying about rice for a year.

Grow up and become a man. Show your heart not your mouth

You forgot the previous government as it seems.

I think this government is not doing a good job, but remember Yingluck with her ministers, they were catastrophic bad and corrupt. So better them than the next Shinawatra (which is basically the only good argument for this government)

[scorecard]

I do not believe this JUNTA. Not one word and there no better than the previous. I first thought they had great intentions. But like most things here it is not real. How habndy they lost money and who really cares. they been crying about rice for a year.

Grow up and become a man. Show your heart not your mouth

Wow, big words.

[scorecard]

So let me understand something here, the Thai government were hoping to make a killing selling rotten

rice? if this is the case, that I have a mountain of garbage up country with lot's of rotten stuff in it that I'd love to sell to someone....

If you mean the current government, when did they say they say 'they were hoping to make a killing selling rotten rice'?

[Siamwhiteelephant]

37,000 tons out of 17 million tons = 2% spoilage...

Correct, the spoilage rate isn't high for rice stored for years. The question is, why was rice that couldn't be sold bought at far more than its worth, leading to a loss (here alone) of some B650,000,000?

Of course, the question is rhetorical. It was needed to prop up a corrupt and inept government who had used the scheme to buy votes - cancelling it could have caused far more dissent than already being expressed.

To get an answer to your question you need to do a little research about Yingluck government’s rice pledging scheme.

The high price was to give growers a high return for their crops, but the govt. greedily and unwisely tried to manipulate the global rice market and miserably failed, with cancelled contracts, an inability to sell it, and a rice mountain to pass down as inheritance

[NCC1701A]

"Cost of spoilt rice to rise next year, according to the Thai Economic Council."

just read this on the web. sorry I don't have a link.