Thailand extends costly rice-buying scheme

Thailand extends costly rice-buying scheme – AP, September 3, 2013
…The rice-buying scheme, a flagship policy of Prime Minister Yingluck Shinawatra’s government, has accumulated losses of at least $4.46 billion since it was introduced in 2011. Attempts to lower the payments faced resistance from farmers, whose votes helped Yingluck’s party win a commanding victory in 2011 elections.
Despite the purchasing limit, which was introduced for the first time, the government will pay 30 billion baht ($933 million) more than it did in the last harvest year…

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