Thailand Lowers Rice Price Subsidy As Losses Mount

SUPHAN BURI, THAILAND - JUNE 20: Leng, uses a empty plastic jug to create sounds that will scare away the birds while he checks on his rice field in on June 20, 2013 in Suphan Buri, Thailand. Thailand plans to sell as much as 7 million metric tons from inventories in order to fund a grain purchase program. Recently financial sources revealed that the actual losses from the government's controversial rice pledging scheme for the 2011-12 rice harvest year are close to reaching 200 billion baht [US$6.5 billion], this is far above the Thai Finance Ministry's earlier forecast of 70-100 billion baht. (Photo by Paula Bronstein/Getty Images)