Stocking Rice is it profitable?

[Prakhonchai Nick]

Waiter, Waiter - there's a testicle in my Fried Rice! 

[Dave the Dude]

I agree with CC.
We are but visitors here and playing with the system and impacting on others businesses is a very dangerous thing to do. People do not always play by 'The Queensbury Rules' over here and nothing is more important than ones health and wellbeing.

[EastFife4Forfar5]

My advice remains - tread with caution.  Take the bread (rice?) out of someone's mouth and be prepared for a reaction.

It is more serious when you try to upset the status quo of established systems ("mafia").

Thailand is not a free economy in the true sense and whilst it is commendable to look at a 'better way' of doing things these will also be viewed with suspicion by the intended beneficiaries.

Prakhonchi Nick, who has been around  lot longer, may have an opinion on how reluctant the Thais are to change - especially where that advice comes from a Falang.

[Prakhonchai Nick]

As Forfar whatever said, Thais are indeed reluctant to change. I have many times suggested that they hang on to their rice for a couple of months before selling. The extra interest they have to pay on their loans would be far outweighed by the extra money they would receive for their rice. They listen - smile - then load up their trucks and pop down to the mill!

I have given up trying to assist now. Not worth the effort.

[crowsnest]

well the Gf and family now have 10 Tonne which now the place where it is stocked is full and still have people coming to see if they can sell on a daily basis, if all works well next year i will pay for another 2 to get built or build it myself with Papa!

[Vombatus]

This is an interesting subject and I am sure we have looked at ways to improve the lot of our extended Thai families.

crowsnest, I am genuinely interested in where you see your market for this rice, Is it a speculative purchase intended to make a few Baht per kilo profit later in the year. If not who will you sell to and how will you market the rice. Also how will you package it and satisfy the health and other standards required by the end user.

[boloa]

What price have you been buying it as crowsnest and  what price do you hope to get when you sell it ? You do know that when it dries out it will weigh less,this is where most of the people I know who have done the same as you have lost money .I have heard it can dry out by 10% over 6-8 months ?

[crowsnest]

This is an interesting subject and I am sure we have looked at ways to improve the lot of our extended Thai families.

crowsnest, I am genuinely interested in where you see your market for this rice, Is it a speculative purchase intended to make a few Baht per kilo profit later in the year. If not who will you sell to and how will you market the rice. Also how will you package it and satisfy the health and other standards required by the end user.

Well my friend i have done some reasearch and the best time to re-sell is the 3rd week in April according to statistics for 8 years running it has been at it's highest in this period, don't ask me why and someone else may correct me as i am still learning!

The rice will be packaged in the same packs as when it was bought which are 10baht each, the truck will take it to the mill for 20 Baht per sack!

i did think of re-packaging it and doing runs to pattaya , it still may happen who knows i have many friends here with businesses , hotels etc!
Also just purchased a pick-up!

I paid 12.5 to 13 Baht per kilo her farther inspected the fields beforehand and checked the rice when it was brought to us. He told me not to buy a few from people who's fields he had a look at!

As he stands to benifit from this business i doubt whether he would Bullshit me!

I intend to sell at 18 Baht per kilo! We will wait and see what happens in April or sooner should the price increse, i now in the market in Prakhon Chai not to far from you they are selling it at 33Baht per kilo cleaned and just put in a bag, no packaging as such!

[crowsnest]

What price have you been buying it as crowsnest and  what price do you hope to get when you sell it ? You do know that when it dries out it will weigh less,this is where most of the people I know who have done the same as you have lost money .I have heard it can dry out by 10% over 6-8 months ?

Thanks for the info i don't think it should dry out too much more as they tend to dry it out beforehand from what i have seen although by no means am i an expert but i guess her dad is as he has been doing it for 50+ years!