09 Sep '11, 11pm

Thailand rice subsidy scheme expected to push up world prices

Thailand rice subsidy scheme expected to push up world prices

Thailand's plan to pay its rice growers far above market rates is expected to push up prices for the staple that feeds almost half the world's people as rice importing nations look to other countries for tightened supplies. -- PHOTO: AP BANGKOK (AP) - Thailand's plan to pay its rice growers far above market rates is expected to push up prices for the staple that feeds almost half the world's people as rice importing nations look to other countries for tightened supplies. A new government in Thailand, the world's biggest rice exporter, has promised growers higher prices for rice in a scheme that will take effect from Oct 7. It's putting no limit on the amount of rice it will buy. What's good for Thai farmers, who have long complained of being shortchanged by middlemen, is proving less popular elsewhere in Asia. The effects of the rice policy are rippling through the region,...

Full article: http://www.straitstimes.com/BreakingNews/SEAsia/Story/STI...

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