Thailand to Sell Rice, Price is Stumbling Block
Aug 21, 2012 05:26 AM EDT | By Sharon Robinson
Thailand will be selling 753,000 tons of rice from its vast stockpile next week, reports Reuters. The move will be an effort to make space for more rice in the October season.
Thailand has been building up a vast rice stock in the hope that it can export when all the other exporters have exhausted their surplus stocks. The stockpile is the result of a rice-pledging scheme by the government, in which the government buys rice from farmers above the market price. The program was introduced to help farmers get a better price for their rice stocks. Currently, the Thai government is paying farmers 15,000 baht ($470 U.S.), whereas the market price is 9,000 baht ($285 U.S.).
Like Us on Facebook
Thailand has nearly 10 million tons of milled rice in its yards. However, the price of Thai rice is higher than Indian and Vietnamese rice. Many rice importers have been looking to India and Vietnam to meet their rice demands. Thailand is slowly losing its position as the top-exporter.
It seems Thailand still has faithful buyers and Commerce Minister Boonsong Teriyapirom claims that the country has sold 2 million tons of rice to China, while another million will be sold to Indonesia, reports Reuters.
The report adds that Vietnam too is looking to sell at least 500,000 tons of rice to Indonesia at a lower price. Chances are that Indonesia may opt for Vietnam rice.
Traders have been complaining that the government does not seem to have sold any rice at all. High prices have also been a source of their anger. According to a report in Bloomberg the price of Thai 5 percent white rice is likely to drop by December, thereby increasing sales. Rough rice futures are currently going for $15.55 per pound at the Chicago Board of Trade.
Taco Bell Menu Gets Absurd With ‘Naked Crispy Chicken’ Taco, Tortilla’s Made From Fried Chicken Flatbread! [PHOTO]
Over the past few months, it seems like the Taco Bell menu has fully embraced the fast food chain's reputation for being the ultimate food for the munchies, as they're expanding on increasingly odder items - now including a taco that, instead of a tortilla, actually uses fried chicken!
It was then reported that sea food consumption of more than 8 ounces can aid in reducing the risk of death and other cardiovascular diseases. Additional studies have linked that regular consumption of fish could lower the risk of cognitive decline as we age.
No one will be sneaking into your Nutella jar anymore!
It is a well-known fact that fast food isn’t healthy, but every parent also knows that fast food meals cannot be avoided and will not be turned down by most, if not all kids, especially those which include toys. Because of this, a New York City council member proposed the "Healthy Happy Meals" bill based on a California ordinance with similar aims.
KitKat Recipe: Nestle Announces Japan’s Favorite Chocolate Will Only Use Ethically Responsible Cocoa, No Child Labor Involved
In the first move towards a more ethically aware chocolate industry in what has been considered a major cocoa crisis on Earth, the KitKat recipe is now officially changing its cocoa supplies, promising to phase out chocolate coming from child labor by 2016.
A new artificial sweetener was created which is twice as sweet than the regular sugar and can reduce your sugar consumption.