Added by Erik West on May 8, 2014
Thailand’s National Anti-corruption Committee has voted to indicted Thai Prime Minister Yingluck Sinawtra for dereliction of duty about the government’s controversial rice subsidy and has requested that the country’s senate impeach her.
The rice subsidy offers unlimited government purchase of rice, at about twice the market value, directly from farmers. Yingluck’s advisers said the policy would force prices upwards, withdraw rice from the global market, and become prohibitively expensive. Thailand is the world’s largest exporter of rice.
The subsidy’s cost was projected to cost US$12.5 billion in its first year with the cost rising to US$15 billion a year later along with administrative costs.
Two-fifths of Thais work in agriculture with most of them rice farmers.