The 'white elephant' that is the rice pledging scheme has finally collapsed, says Veera | Bangkok Post: opinion

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The rice scheme has finally collapsed

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Finally, the government has conceded and decided to sell the millions of tonnes of rice held in stockpiles since last year at the market price - and take an embarrassing big loss as a result. 

The admission came on Thursday from the mouth of PM's Office Minister Nawatthamrong Boonsongpaisan -  instead of Commerce Minister Boonsong Teriyapirom, the man in charge of the rice pledging scheme who has repeatedly said the grain would never be sold at a loss.

Mr Boonsong's claim ignored the fact that there have been no real buyers, only the non-existent buyers on government-to-government deals fantasized by the Commerce Ministry.

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