After recently discovering massive losses in the current rice scheme, the Thai government approved a new plan that will lower prices and quantities. With 17 million tonnes in storage and another 10 million set to arrive, however, the government is still at risk to lose in storage, depreciation, and logistics costs. http://in.reuters.com/article/2013/09/03/thailand-rice-intervention-idINL4N0GZ1FC20130903
Tag Archives | Thailand
Four Rice Millers to Face Theft Charges
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555 tonnes of what is believed to be stolen state grain was found in poor, contaminated condition in private mills. http://www.bangkokpost.com/news/local/358807/four-rice-millers-to-face-theft-charges
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Upper House Warned Losses Risk Worsening
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In a testimony to the Senate committee investigating the massive losses recently discovered in the Thailand rice scheme, a finance official admitted to corruption in every step of the rice pledging process. http://www.bangkokpost.com/business/news/358014/supa-says-rice-purchases-riddled-with-graft
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Thailand Has 17M Tons of Rice in Stockpile
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In a testimony to the Senate committee investigating the massive losses recently discovered in the Thailand rice scheme, a finance official admitted to corruption in every step of the rice pledging process. http://www.malaya.com.ph/index.php/business/market/35269-thailand-has-17m-tons-of-rice-in-stockpile
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Thai Rice Pledging, Moisture Content, and Corruption
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Major losses in the government’s flagship pledging program led officials to slash the pledging price of unmilled white rice by 20%, set a limit on household pledge amounts, and cap the total amount of paddy to be bought each year at 15 million tonnes. Many say modifications aren’t enough to curb corruption among millers and […]
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Who Really Benefited from the Rice Scheme?
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Thailand’s rice scheme is under scrutiny after being found to incur major losses in its first year. Public officials, bureaucrats, millers, processors, and other middlemen in the agro-processing sector are targeted as corrupt, at the expense of farmers. http://www.bangkokpost.com/opinion/opinion/355674/who-really-benefitted-from-the-rice-scheme
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Farmers Lose in Rice Review
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Major losses in the government’s flagship pledging program led officials to slash the pledging price of unmilled white rice by 20%, set a limit on household pledge amounts, and cap the total amount of paddy to be bought each year at 15 million tonnes. Many say modifications aren’t enough to curb corruption among millers and […]
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NRPC Wants Pledge Price Ceiling Cut
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Government officials debate the accuracy of loss figures for Thailand’s rice-scheme, and what steps they will take to maintain fiscal discipline for pledged paddy. The Finance Ministry reports a loss of $4.4 billion USD in the first year of the rice-scheme, with some unsold grain rotting in warehouses. http://www.bangkokpost.com/news/local/355589/rice-purchase-payouts-face-cuts
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Thai Rice Buying Slows as Govt Runs out of Storage Space
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A Thai government intervention scheme for securing adequate storage for paddy (rice) farmers is currently facing challenges. Officials are requesting use of old airport warehouses to store the rice as production continues to increase. Controversy exists over whether the government can support the scheme by exporting the rice. Many millers are turning farmers away due to lack […]
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Thailand Readies Airport Warehouse to Store Record Stocks of Rice
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A Thai government intervention scheme for securing adequate storage for paddy (rice) farmers is currently facing challenges. Officials are requesting use of old airport warehouses to store the rice as production continues to increase. Controversy exists over whether the government can support the scheme by exporting the rice. Many millers are turning farmers away due to lack […]
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