Panel keeps pledge price unchanged

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RICE

Panel keeps pledge price unchanged

Published: 12 Mar 2013 at 00.00
Newspaper section: News

The national rice policy committee yesterday decided to leave the price of pledged price unchanged at 15,000 baht per tonne.

At that price the government needs more than 100 billion baht to pay for the next round of grain purchases in its rice-pledging scheme.

About 7 million tonnes of paddy is expected to be pledged in the second round, Commerce Minister Boonsong Teriyapirom said yesterday following a committee meeting.

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jacksprat
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Discussion 3 : 12 Mar 2013 at 18.383
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The "strong baht" is bizarre. Every trip to the grocery or market shows prices steadily going up. Yet the baht is gaining steadily against sterling and the dollar. Yo no comprendo.
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faranginkorat
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Discussion 2 : 12 Mar 2013 at 08.142
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For anybody not seeing the linkage between such government programs and inflation, consider this.
These programs pump money into the economy, but there is no resulting production of anything of value. There is just more money floating around. The programs in America promote people to work less and consume more with the money the government gives them.
People can only consume what is produced, looking at the flows of money only confuses the issue.
And in the long term, you can not give something to somebody for free unless it is taken away from somebody else. This is a basic economic truth that liberals try to conceal/refute.
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faranginkorat
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Discussion 1 : 12 Mar 2013 at 06.471
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A loss of 500 billion THB is almost 10,000 THB for every man, woman and child in Thailand.
It is vote buying on the scale of Obama's extended unemployment benefits for 10 million and food stamps for 45 million.
While some people complain about the "Strong Baht", anybody who spends them knows that they buy less and less with every passing day.
Same is true of the US$.
This is a good example of why.
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Panel keeps pledge price unchanged | Bangkok Post: news