Rice gamble could be an expensive fiasco

Thaksin Shinawatra has claimed the Yingluck government's rice pledging scheme will reap economic gains three times its costs in a matter of a few years.

Apparently, his idea was to have the Yingluck government withhold its rice stockpile for at least two or three years, then export it later on when the world market price is supposed to rise.

However, Thaksin has miscalculated two important points: First, the country is running out of storing space already after only one year of rice stocking. Second, since it is a perishable commodity, the rice that we have in stock is starting to putrefy.

Hence, the Pheu Thai party's motto that says "Thaksin thinks, Pheu Thai acts" seems to have cost Thailand a lot, instead of having helped in any way.

Vint Chavala

Lamphun