Skip to comments.China cancels Thailand rice deal amid probe
Posted on 02/04/2014 9:11:24 PM PST by LeoWindhorse
The Ministry of Commerce said the Chinese government pulled out of the the deal to buy 1.2 million tonnes of rice because of an ongoing probe.
Thailand's Anti-Corruption Commission is investigating PM Yingluck Shinawatra over a rice purchase policy.
The policy has been a factor in the anti-government protests that have sparked Thailand's political crisis.
The deal with China would have been the first stage of what the Thai government was hoping to be a larger shipment of rice this year. [ snip ] The rice purchase scheme, introduced by Ms Yingluck's governing Pheu Thai party, has seen the government buying farmers' crops for the past two years at prices up to 50% higher than world prices.
Now the government needs to sell its stocks to pay farmers, many of whom have not been paid for their October crop.
Some of the farmers have started to protest over not receiving payment and have threatened to join the anti-government demonstrations occupying parts of Bangkok.
(Excerpt) Read more at bbc.co.uk ...
Someone’s going to bed hungry....
What does this have to do with the price of rice in China?
Protests there have been going on for months. Now I am getting a better sense of what it is all about. My understanding is that the PM stepped down, but his sister is caretaking the government which has people upset. Was the PM and chronies pocketing the China money and not paying the farmers??
the Thai rice farmers have been waiting for their Gov rice price subsidy , which is based on Thai gov rice sale deals with big countries , like China . So when this deal collapses with China , the Thai gov cannot honor their subsidized price / purchase to the Thai farmers ( who make up the biggest base of support for the current Thai gov ) Perhaps not mentioned is that both Vietnam and India are coming on very strong in the pan Asian rice producers market and China has other places to buy their rice ( what they don’t grow themselves )However Thai ‘Jasmine’ is the world standard in quality and variety , so at least there is that .
” The most interesting develpoment I see is the farmers of Thailand including many in the North and North East have finally realized how the Rice Pledging Scheme is ensuring their continued suffering economically while enriching the rice millers. The rice millers are Thai Chinese and they have had a strangle hold on the rice based economy and the farmers. Thaksin has been catering to the millers for years now. Yingluk is the chairperson of the committee responsible for this farce and she has never been to a meeting. “
Thanks for breaking this down. I’m not up to date on the Asian Markets, but would like to be. Meanwhile, let’s hear it for Jasmine Rice. The Thais should find some European Doctors to attribute great health benefits to this particular type of rice. Make a commercial with that Englishman who runs Virgin Airline, being served a steaming bowl of Jasmine Rice from a young lady in Thai native dress. The Chinese cannot take (all of) their heritage away!
I hope the people in the North and Isan wake up now. Thaksin has such support that some won’t.
Thai jasmine? Nah, basmati tops it in aroma and flavour.
sort of like Obama , Democrats and union members ....
the Chinese have been engaged in a ‘slow motion’ invasion of South East Asia for years . Only the Vietnamese seem to have striven to avoid that . In the case of Thailand ( formerly Siam ) the original Chinese were ethic Dai from Yunnan that pushed south as the Han in , I believe the southern Song Dynasty . These people brought the numeric system and much of the language that is seen as ‘Thai’ today . Originally the region was peopled by the Mon and the Khmer , who themselves were more influenced by India ( and Hinduism) than the Chinese . In more recent times ( pre European colonial) there were waves of Chinese migrations into the great Siamese kingdoms of Lannathai, Sukkothai and Ayutthaya , with sprinklings ending up all over SEA , including the Burmese nation states . In Thailand these Chinese immigrants rose to the top of all societal fields ; especially the merchant classes ( rice milling)banking , government ( Taksin is sino-Thai) , the military and the police . It’s hard to find a genuine Siamese Thai today ... you might look at those working in the rice fields and carrying sacks of rice unto barges along the Chao Praya river . Lottery conscripts in the Thai Army....So it’s curious that China would be on the outs with it’s own planted immigrants ( the 500 yr plan ) in Thailand . Personally , I think it’s just a ploy to achieve a more advantageous rice price .