China has canceled a deal to buy more than a million tons of rice from Thailand due to a probe into the beleaguered Thai government’s subsidies for rice growers. Thai Commerce Minister Niwattumrong Boonsongpaisan told a news conference Tuesday that a Chinese state company, Pei Ta Huang, terminated a contract to buy 1.2 million tons of rice out of concern it would run into problems due to an investigation by Thailand’s National Anti-Corruption Commission…Full Article: BlackSeaGrain Feb 2014

Key point

  • Thailand’s National Anti-Corruption Commission is also investigating Thailand’s beleaguered Prime Minister, Yingluck Shinawatra, who also acts as the chairwoman of the National Rice Policy Committee

ChinaAg Comment

  • According to an article published in November 2013, Thailand’s Commerce Minister stated that ~500,000 metric tons of Thai rice will be exported to China from December 2013 to April 2014

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