@article{Permani:165881,
      recid = {165881},
      author = {Permani, Risti and Vanzetti, David},
      title = {Rice Mountain Assessment of the Thai rice pledging  program},
      address = {2014},
      number = {425-2016-27211},
      pages = {23},
      year = {2014},
      abstract = {In 2011 the Thai Government pledged to pay rice producers  50 per cent more than the going market price. The surplus  has gone into Government stocks. While supporting local  farmers, the Government also hoped to drive up world prices  by withholding supplies from the world market and make a  speculative profit by selling the stocks at a higher price.  It is now clear that the policy has in fact depressed world  prices and the Government has a mountain of rice to dispose  of. Furthermore, the stocks are starting to spoil, and  there has been an upsurge in smuggling to take advantage of  inflated prices. Competing exporters have increased  supplies to the international market. This study analyses  the welfare effects of various Thai rice policy options  using a dynamic, stochastic, ten-region, partial  equilibrium model of world rice trade. While the Thai  policy was effective in supporting the incomes of rice  producers in the short run, the burden imposed on taxpayers  and consumers seems difficult to justify.},
      url = {http://ageconsearch.umn.edu/record/165881},
      doi = {https://doi.org/10.22004/ag.econ.165881},
}