Over 800 probe teams to be formed to investigate rice pledging scam

[candide]

24 minutes ago, jamesbrock said:

 

 

 

holloween is correct in that the Democrats' policy was to pay the farmers the difference between the market price and 11,000 baht per ton. They didn't buy the rice, store the rice or hold the rice, so there were no insurance companies, warehouse owners, millers or inspectors to be paid by—and rip off—the government, or to rip off the farmers. (Interestingly, the then army chief Prayuth Chan-ocha told reporters in 2012 that the government had asked the army to come up with storage space for stocks, which he duly did...)

 

This 11,000 baht per ton was 3-4000 baht above market rates, but was still not enough for the farmers who—in 2009—mounted national protests demanding the government increase the reference price from 10,000 to 14,000 baht, raise the quota from 25 to 40 tons per household. This is where Yingluck's core policy came from - the famers themselves, although she was offering 15,000 baht per ton.

 

The Democrats' policy cost 67 billion baht in direct payments to 4 million rice farmers in the 2010-2011 production year.

 

A Thailand Development Research Institute study that found for every Bt100 of the government's spending on the Pheu Thai scheme, only Bt17 reached the rice farmers.

Source, please, for this TDRI simulation Report? 

[halloween]

25 minutes ago, jamesbrock said:

 

 

 

holloween is correct in that the Democrats' policy was to pay the farmers the difference between the market price and 11,000 baht per ton. They didn't buy the rice, store the rice or hold the rice, so there were no insurance companies, warehouse owners, millers or inspectors to be paid by—and rip off—the government, or to rip off the farmers. (Interestingly, the then army chief Prayuth Chan-ocha told reporters in 2012 that the government had asked the army to come up with storage space for stocks, which he duly did...)

 

This 11,000 baht per ton was 3-4000 baht above market rates, but was still not enough for the farmers who—in 2009—mounted national protests demanding the government increase the reference price from 10,000 to 14,000 baht, raise the quota from 25 to 40 tons per household. This is where Yingluck's core policy came from - the famers themselves, although she was offering 15,000 baht per ton.

 

The Democrats' policy cost 67 billion baht in direct payments to 4 million rice farmers in the 2010-2011 production year.

 

A Thailand Development Research Institute study that found for every Bt100 of the government's spending on the Pheu Thai scheme, only Bt17 reached the rice farmers.

 

Just to add, the B15000 price was a late arrival. At a PTP election rally farmers were demanding more, and Yingluk unilaterally increased the price. It was denied initially by PTP, then agreed that their leader was correct. But of course, she should have no responsibility for the losses incurred. 

[Srikcir]

3 hours ago, halloween said:

Democrat's scheme was price support

Correct - Abhisit implimented an income-support program that provided about Bt67 billion in direct payments to 4 million rice farmers in the 2010-2011 production year with the intent to lower production costs. But it didn't guarantee a profit margin for the farmers.

 

However, Prayut's Commerce Ministry  in cooperation with the Thai Rice Exporters Association did launch measures to prevent rice prices falling during the upcoming main-crop harvest in November 2015. The goal was to prevent white paddy rice trading below a range of Bt8,000-Bt8,500 per tonne, while the price of paddy jasmine rice should be maintained at no lower than Bt13,500.Members of the Association agreed to spend a combined Bt50 million to purchase 100,000 of jasmine rice from the market at about Bt26,000 per tonne to absorb supply from the market during the next four months. This amount of purchased rice would not be traded in the market, but would be stocked for three months to ensure that there is no oversupply during the harvest season.   http://news.thaivisa.com/thailand/measures-set-to-stop-rice-prices-falling/119302/

 

A better (but still not equal) comparison to Yingluck's rice pledge program might be Prayut's rubber buffer stock program. The government purchased rubber stockat higher than market prices, hoping that by withholding the rubber stock from immediate sale on the market it could raise value through subsequent government-to-government sales. I believe that the government's price was on the order of only 10% higher than market price and actually over a 3-4 month holding period the market price did reach or slightly surpass the government's purchase price. http://news.thaivisa.com/thailand/thai-agriculture-ministry-is-confident-rubber-prices-will-increase-in-mid-may/32476/

 

 

 

[elgordo38]

18 hours ago, jamesbrock said:

Wow, they're really milking this for all the graft they can get for themselves, aren't they?

Never let a good graft opportunity go to waste. 

[jamesbrock]

33 minutes ago, candide said:

Source, please, for this TDRI simulation Report? 

 

I got that from a site we are unable to link to from this forum; however, I looked for it on the TDRI website but could not find it.

 

31 minutes ago, halloween said:

 

Just to add, the B15000 price was a late arrival. At a PTP election rally farmers were demanding more, and Yingluk unilaterally increased the price. It was denied initially by PTP, then agreed that their leader was correct. But of course, she should have no responsibility for the losses incurred. 

 

She should certainly bear the responsibility for the scheme, but not in her capacity as a private citizen by stealing her personal assets, which there is zero proof that she acquired or otherwise enhanced via this scheme. 

[SOTIRIOS]

.....all the evidence was at hand all this time.....

 

...this sounds like they are moving backwards.....

 

...so....anything but justice....???

 

 

[BuckBee]

After finished probing the rice scam have a good probing through military finances over last decade.

some serious big corruption & big figures to probe ...

More than just the rice is rotten, whole country government services are a milking teat for the privileged who have no talant or brains to earn a buck legitimately  .

[Grubster]

One of the first things my mother taught me was " theres no sense crying over spilt rice"

[candide]

11 hours ago, jamesbrock said:

 

I got that from a site we are unable to link to from this forum; however, I looked for it on the TDRI website but could not find it.

Anyway the TDRI is not more reliable than its simulation models are:

http://englishnews.thaipbs.or.th/tdri-says-yinglucks-rice-pledging-scheme-causes-almost-trillion-baht-loss/

Additionally it should be known that the TDRI is a think tank working closely with the dems.