Author Topic: Debt fills Thailand's rice bowl  (Read 389 times)

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Offline thaiga

Debt fills Thailand's rice bowl
« on: March 20, 2016, 12:06:33 PM »
 Debt fills Thailand's rice bowl

Phayu L, a rice farmer in Thailand's poor northeast, recently sold a fifth of her land for 600,000 baht ($17,247) to pay off debt. But she still needs to repay 200,000 baht in loans, mostly owed to the Bank for Agriculture and Agriculture Cooperatives, a leading government lender to rural communities.

The bank loans were used to buy farming equipment, help pay for her three children's education and acquire three motorcycles.

The 51-year-old is in a financial predicament, but, she said, "I am not the only one."

There are four other families in her village -- a collection of bare wooden houses shaded by trees -- who are also selling land to pay off debt. There are visible signs of the same, vicious debt cycle hitting farms throughout Mahasarakham, the northeast province where Baan Plabuu is located. More than 40 "land for sale" signs were spotted along a main road stretching 100km through paddy fields, many of them caked with brown dust due to a severe El Nino-delivered drought.

Analysts see the land sales as a symptom of an expanding household debt crisis that could plunge the region, home to a ......

full article: asia.nikkei.com
Anyone who goes to a psychiatrist should have his head examined.
 
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Offline Aussie

Re: Debt fills Thailand's rice bowl
« Reply #1 on: March 20, 2016, 03:17:20 PM »
The Isan area of Thailand lack sufficient large dams so that rice farmers can be assured water to grow their crops.  A great reduction in poverty for rice farmers would be if farmers were guaranteed enough water to grow 2 or 3 crops of rice instead of one.
Regards
Before you criticise someone, you should walk a mile in their shoes. That way, when you criticise them, you’re a mile away and have their shoes
 

 



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