Thailand's Rice Subsidy Trap
The Thai government is riding a subsidy tiger it appears unable to dismount politically. It has caved in to the rice farmer lobby and restored the support price for rice to Bt15,000 a tonne (US$484) soon after announcing a cut to Bt 12,000.
The reversal of policy came after a cabinet reshuffle and bore the fingerprints of and bore the fingerprints of …
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