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Monday, September 3, 2012

Thailand's rice Cartel initiative?

Rice Payment Scheme Threatens Thailand's Status as World's Top Exporter

Published on Sep 3, 2012 by VOAvideo : Thailand is risking its status as the world's biggest rice exporter because of a controversial government-purchasing policy to boost farmers' incomes. VOA's Daniel Schearf reports that rice industry insiders say the costly program is inefficient and money would be better spent on long-term investment.




Thailand rice prices stir up debate
Published on Aug 24, 2012 by EnglishNewsToday : Thailand's governing Pheu Thai party won last year's election partly based on a promise to improve the income of rice farmers. The government introduced a scheme which currently pays them around 50 to 60 per cent more than market prices. The International Monetary Fund estimates that this could amount to $3.8bn, excluding the cost of storage. Despite the cost, the government says it will continue with the programme, because it has a duty to look after farmers. But not everyone agrees that the benefits are worth it.