Thailand Lowers Rice Price Subsidy As Losses Mount

SUPHAN BURI, THAILAND - JUNE 20: A worker walks by machinery at the Settapanich-Samchuk rice mill 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)