Kittiratt: Rice scheme to cost less

Published: 5/10/2011 at 01:44 PM
Online news:

The government’s rice mortgage scheme would boost rice prices and as a result less than 15 million tonnes of paddy would have to be mortgaged by farmers, Commerce Minister Kittiratt Na-Ranong predicted on Wednesday.

“Therefore, the cost of the rice price pledging programme will be less than the previously estimated 400 billion baht,” said the deputy prime minister in charge of economic matters.

Deputy government spokeswoman Anuttama Amorwiwat said the cabinet meeting yesterday approved a plan for the Bank for Agriculture and Agricultural Cooperatives to allocate a budget of 3.82 billion baht to the Marketing Organisation for Farmers for funding the rice mortgage scheme until it gets additional budget funding in the 2012 fiscal year.

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ianprince
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Discussion 3 : 05/10/2011 at 02:44 PM3
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It is a waste of money trying to buy crop at high price from poor farmers.

All farmers do, is go straight to spend on pick-up, bike, ipad, iphone, 3g internet, and worst, sateline TV. All these do NOT increase rice farming productivity at all.

Thai farmers should NOT overspend and practice "Substantial Economy" taught by our Father. Earn little, spend little, and live happily with the children and parrents.
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anoldman
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Discussion 2 : 05/10/2011 at 02:25 PM2
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Note that under the memoranda of understanding with Indonesia and Bangladesh the prices paid are to be the world market prices, not the Thai government's rice mortgage prices. Substantial losses are likely because at present, for rice, it is a buyer's market.

Kittiratt doesn't seem to blelieve this, unless the plan is to somehow force up the Thai retail prices for rice to cover the shortfall. If so, Thai cost of living will continue to increase.
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geoffo
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Discussion 1 : 05/10/2011 at 01:38 PM1
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well. someone is going to be very right and someone is going to be very wrong. I hope it is not the country that looses again.
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Kittiratt: Rice scheme to cost less | Bangkok Post: breakingnews