No truth in US Rice Fed fears, says Boonsong

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No truth in US Rice Fed fears, says Boonsong

Thai prices 'will boost, not lower competition'

Published: 20 Oct 2012 at 00.00
Newspaper section: News

Commerce Minister Boonsong Teriyapirom yesterday dismissed US farmers' concerns that the rice pledging scheme would drive up rice production and lead to dumping of the crop when the stock is released on the market.

Police officers count sacks of rice at a warehouse in Ayutthaya’s Wang Noi district. The counting was part of a preliminary inspection of rice stockpiles after 11,000 tonnes of the grain vanished recently from a warehouse in Nakhon Ratchasima province. APICHIT JINAKUL

Mr Boonsong said the US Rice Federation's fears were unfounded.

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mrajg2u
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Discussion 10 : 20 Oct 2012 at 10.2710
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I heard a buyer from Dubai just ordered 11,000 ton of rice, they might want to look into this guy !
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dao
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Discussion 9 : 20 Oct 2012 at 10.159
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How much tax payer money will be wasted on this nonsense scheme before people say enough is enough.Unfortunately the people who pay for this scheme dont have the luxury of being bussed in to protest because they have jobs ,bills and mortgages to pay .
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pointman-1
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Discussion 8 : 20 Oct 2012 at 09.428
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Of course there's truth in "U.S. rice fed fears." Asian economies have always enjoyed a trade-surplus with the United States, and have shown no "Thank you," for U.S. favors. Time to crack-down on dumping.
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pointman-1
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Discussion 7 : 20 Oct 2012 at 09.347
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The United States, needs to impose high tariffs on Asian products being dumped on U.S. soil. Dumping on United States, markets and thewn bashing the U.S. Dollar needs to be addressed by the U.S. Congress.
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bikeme
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Discussion 6 : 20 Oct 2012 at 08.576
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I thought the government sold its rice stocks in big government to government deals. Now Boonsong says it has been sold to private traders at market value. Which is it?? Wake up Khun Boonsong and the rest of the Pheu Thaksin, the rest of the world IS watching and they aren't as gullible as your voter base and the red brethren.
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dickemery
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Discussion 5 : 20 Oct 2012 at 08.495
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this regime havent a clue,why have they interfered in a free market.to justify there own claimes to a deal,as a result full scale graft,loss products,the 11000 tonne is just the tip of the iceberg,two months ago 4 million tonne have been unaccountable,thats 20 billion dollars,corruption within the government is widespread and out of control,its up to the corruption agencies to investigate and report,but to whom, the regime ? they dismisses all allegations,so its up to the courts to look after the good interest of the nation and its people and to disband this corupt regime and bring some honesty and good ethics into thai politics
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uberbraun
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Discussion 4 : 20 Oct 2012 at 08.154
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"Pol Maj Gen Rattapong said the inspection found no sign of irregularities."
Yet the story states that 11,000 TONS of rice have gone missing!!!
So no sign of irregularities, huh? Just same ol', same ol', business as usual in Thailand.
Amazing Thailand, indeed.
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ringmaster
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Discussion 3 : 20 Oct 2012 at 07.423
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Of course US farmers are over-reacting. They fail to mention the farm subsidies they get from the US government.
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oldairman
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Discussion 2 : 20 Oct 2012 at 07.222
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Quote
Mr Boonsong said the US Rice Federation's fears were unfounded.
The commerce minister said rice would not be dumped because the government sold its stocks to local traders at high prices, the equivalent of US$540-560 (16,600-17,200 baht) per tonne, which was $100 (3,100 baht) higher than prices Vietnam and India sold their stocks at.

Thai rice was priced at around $679 (21,000 baht) per tonne on average, an increase of 17.27% compared with last year's price of $579 (17,800 baht).
"The scheme doesn't affect rice exports in other countries. On the contrary, they benefit from pledging programmes," he said.
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NorDevil
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Discussion 1 : 20 Oct 2012 at 06.391
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How can 11000 ton of rice just go missing ? This goverment say that there is no corruption or wrongdoings in this rice scheme . . . . what a joke.
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