Share

Thai rice losses lower than reported

Bangkok  - Losses incurred by the Thai state budget from its rice intervention scheme are lower than the 260 billion baht ($8.5bn) mentioned by some media but it is too soon to come up with a precise figure, Deputy Commerce Minister Nattawut Saikuar said on Friday.

The government has been buying rice from farmers at a price higher than the market since October 2011. It has given very little information on how much it has bought or how much it has managed to sell, and at what price.

Media have reported various figures for the losses.

One report that the losses had reached 200bn baht ($6.5 in) in the 2011/12 crop year drew a warning about the cost to the budget from Moody's rating agency this week, adding fuel to a political debate and forcing Prime Minister Yingluck Shinawatra to promise more transparency.

Nattawut was speaking at a briefing as part of that initiative. 

($1 = 30.60 Thai baht)

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.90
+0.2%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.36
+0.3%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent-ruolie
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders