Thailand Lowers Rice Price Subsidy As Losses Mount

SUPHAN BURI, THAILAND - JUNE 20: Geng, 70, a rice farmer stands by his rice fields in on June 20, 2013 in Suphan Buri, Thailand. Thailand plans to sell as much as 7 million metric tons from inventories in order to fund a grain purchase program. Recently financial sources revealed that the actual losses from the government's controversial rice pledging scheme for the 2011-12 rice harvest year are close to reaching 200 billion baht [US$6.5 billion], this is far above the Thai Finance Ministry's earlier forecast of 70-100 billion baht. (Photo by Paula Bronstein/Getty Images)
SUPHAN BURI, THAILAND - JUNE 20: Geng, 70, a rice farmer stands by his rice fields in on June 20, 2013 in Suphan Buri, Thailand. Thailand plans to sell as much as 7 million metric tons from inventories in order to fund a grain purchase program. Recently financial sources revealed that the actual losses from the government's controversial rice pledging scheme for the 2011-12 rice harvest year are close to reaching 200 billion baht [US$6.5 billion], this is far above the Thai Finance Ministry's earlier forecast of 70-100 billion baht. (Photo by Paula Bronstein/Getty Images)
Thailand Lowers Rice Price Subsidy As Losses Mount
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Credit:
Paula Bronstein. / Contributor
Editorial #:
171056014
Collection:
Getty Images News
Date created:
20 June, 2013
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75193732