Dec 24, 2012

Thai MOF lost 76 Billion Baht for 2011 rice price pledging

News from the Fiscal Policy Office of the Ministry of Finance indicated that financial net lost for the MOF due to rice grain price pledging project for fiscal year 2011-2012 was estimated 'only' around 76.377 billion Bahts.  There was 21.6 million tons of rice grain in the last year project. The estimated lost was based on a projection of selling the grain stock within 1 year.

Note: The pledging policy is highly criticized by some economists, including scholars from TDRI

Ref: Manager Online News

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