FAO warns Thailand may not have sufficient warehousing to store government's rice stockpile

FAO warns of rice warehouse shortage

Published: 8 Feb 2013 at 11.34
Online news: News

Rice stockpiles in Thailand will surge to a record this year driven by the government's price support scheme, according to the Food and Agriculture Organisation, which said the country may be running out of room to store the staple.

Milled holdings may jump 40% to 18.2 million tonnes in 2013, the Rome-based United Nations agency said in a report on Thursday on the global rice market. The reserves, which averaged 5.4 million tonnes a year between 2008-2010, have increased from 7.8 million tonnes in 2011, according to the report.

There may be a looming shortage of storage space, the agency said. Government stock-release plans have progressed slowly, further aggravating the supply situation for an export sector that is faced with little offshore demand, it said.

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englishbob
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Discussion 7 : 08 Feb 2013 at 17.437
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Disc 2 Canuck - "Those who wait sell at higher prices when there is a shortage."

What?!!!

Why will there be a shortage of rice? GOD!!! I can't believe I bothered asking...
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bluebottle
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Discussion 6 : 08 Feb 2013 at 13.456
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They new this 6 months .Did they expect the world to pay there exorbitant prices and did they not expect land owners to cash in on the bonanza by bringing old disused paddy fields back into use.
Still not seen any official figures as to the quantity and price of rice claimed to have been sold strange isn't it.What is the word they keep using transparency, what a joke.
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banmebkk
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Discussion 5 : 08 Feb 2013 at 13.415
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"Thaksin said that the programme reaps economic gains that are about three times the cost"

And what benefit is this I may ask? No one wants to buy Thailands over price rice, let alone neighboring countries want to set up a "Rice Cartel" as Thaksin hope to have formed by doing so. Debts are mounting. Lets not forget US is also a big rice producer and has harvested Jasmine rice the same quality, and even fresher than ones exported from Thailand, with almost comparable retail prices.
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bluebkk
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Discussion 4 : 08 Feb 2013 at 13.264
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..Thai rice shipments plunged 37% 6.73 million tonnes last year....Thank you Dubai......how much lower can we go, how much deeper can we sink???
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dao
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Discussion 3 : 08 Feb 2013 at 12.593
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I hope taxpayers wont be expected to foot the bill for them to build for warehouses for this stupid scheme.
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canuck
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Discussion 2 : 08 Feb 2013 at 12.462
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If you understand the market. The cheap rice sells first. If you hold out till the cheap rice is gone you get a bigger price. Everybody gets in a hurry and are hot to sell. Those who wait sell at higher prices when there is a shortage.
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mitrapaap
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Discussion 1 : 08 Feb 2013 at 12.241
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"The government bought 9 million tonnes of unmilled rice last harvest and expects to purchase as much as 11 million tonnes this harvest, Commerce Minister Boonsong Teriyapirom said on Jan 23. The stronger baht had made exports quite difficult, he said."

As if it was traded in Thai Baht.
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FAO warns Thailand may not have sufficient warehousing to store government's rice stockpile | Bangkok Post: business

FAO warns of rice warehouse shortage

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