Bloomberg: Thai Rice Hoard at Record Seen Hurting Prices Amid Global Glut

Thai Rice Hoard at Record Seen Hurting Prices Amid Global Glut – Bloomberg, November 21, 2013
…Thailand has spent 678 billion baht ($21.3 billion) since October 2011 buying about 29 million tons of milled rice from farmers. The program spurred the buildup of record reserves and dethroned the country as the largest exporter…

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One Response to Bloomberg: Thai Rice Hoard at Record Seen Hurting Prices Amid Global Glut

  1. Vinai says:

    whoever concocted this rice scheme should win the Global award in economic – social idiocy ( if such award exist)
    it a ” price floor” which always will not work, when you set the price floor higher than the market, demand will decreased , but the producers will produce more , lead to over supply

    it unfair, the tax money pay for the rice scheme, so the government is using the money from taxi drivers,fisherman,factory workers etc to pay the farmers
    and in the long run it will hurt the farmer

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