paid a 40% up price for a rice that is sitting in the warehouses. Thailand lost Billions in that Rice
scheme. Corruption spread all over. People on Top stealing millions, all the way to the end of the
chain where rice was moved from Myanmar and sold to the Thai government for double profit.
The Thai government is loosing billions, The Thai banks affiliated with the opposition stopped
the loans so the Farmers turn their back to Thaksin and join the opposition.
The Opposition used the judicial system and forced corruption charges against Yingluck for
misuse of power and corruption. Same charges that faced Thaksin before and made him fled
Thailand.
The idea of the Scheme was good. Rice monopoly, increase the rice price make huge profit.
Money Flows to the Thai economy. Thailand becomes Dubai. Rice becomes Oil. Thai rice price
was $550 per million tonne almost a year ago with hardly any takers in world market. Thai
farmers could not be paid for the high-priced paddy. Now, the Thai government is desperately
selling paddy at a discount of about $300 per million tonnes, just to get rid of the excess supply
before it gets spoiled. What a Huge Loss.
Thailand Rice Farmers Scrabble for Credit as Payment for Rice Paddy Is Not Expected until
December or January.
There are about 720,000 Thailand rice farmers owed 82 billion baht who are waiting for the
government to pay them for their paddy under the rice mortgage scheme. The managing director
of the BAAC told local media farmers may not be paid the money they are owed until December,
or January.
A survey by the Bank for Agriculture and Agricultural Cooperatives (BAAC) found that to cover
daily expenses, about 29% of rice farmers have taken out loans while 22% have dipped into their
savings, about 9% have used credit cards, and about 6% are getting money from other sources.
To continue farming paddy, about two-thirds said they were using credit cards and about 60%
said they were borrowing from other sources. Meanwhile about 30% were using their savings
and 16% said they were working side jobs.
Makes me wonder, makes me think, How Thaksin comes with that idea. Let me tell you my
view. You can agree with it or disagree with it. Its only a a view and its mine.
Thaksin tried to implement the same supply and demand, same control over Rice as the Middle
East did with Oil. Oil transformed the desert dwellers to millionaires. Desert became symbolic
for skyscrapers and high-rise buildings. All because of Oil.
Thaksin, Thaksin, you lived too long in Dubai. Rice is no Oil. Rice is Rice. You thought one
country can take over the Rice price monopoly. Thaksin, your theory is good. But, you started
early. maybe 10 years earlier. Just wait a little bit longer for the food shortage supply and play
that supply and demand game.