how much longer before this government accepts the reality that the rice pledging scheme is a big mistake and badly in need of a major overhaul, or being dumped completely? says Veera Prateepchaikul | Bangkok Post: opinion

Opinion > Opinion

Bank of Agriculture and Agricultural Cooperatives is broke

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There is both good news and bad news about the rice pledging scheme, events which seem to have been overshadowed by the current political turbulence. 

The good news first. Deputy Prime Minister and Commerce Minister Niwatthamrong Bunsongphaisarn told the media upon his return from China earlier this week that he had clinched a deal for one million tonnes of 5% white rice.

Under the government-to-government deal, he said, China has the right to change the type of rice from 5%  white rice to Hom Mali or Hom Pathum fragrant rice, but the selling price will be based on the world market price.

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