Government rice stocks near depletion

 

 

BANGKOK, 16 May 2018 (NNT) – Thailand's Department of Foreign Trade (DFT) has announced that over 14.8 million tons of the more than 18 million tons of rice in government stocks, acquired through pledging since May of 2014, has been released to market and the stocks are likely to be depleted by next month. 

DFT Director-General, Adul Chotinisakorn, said a general auction of consumer grade rice covering 44,000 tons will start this week with registration of bidders. A significant number of private buyers are expected to take part in the auction. 

Another 1.5 million tons of industrial grade rice will begin to be auctioned from June 14 with another 500,000 tons of rice not consumable by people or animals to be put to auction from June 15. Each type of rice must be purchased and put to use according to its grade with legal repercussions for misapplication. 

Adul pointed out that the depletion of the government rice stock will alleviate downward pressure on the price of Thai rice. Currently, Thai Hom Mali rice is priced at 1,161 USD per ton and 5 percent white rice is priced at 450 USD per ton.

 

-- nnt 2018-05-16

Looks like the government will start buying rice in the next six months or so.

 

Waiting for the announcement.

1 hour ago, Chang_paarp said:

Looks like the government will start buying rice in the next six months or so.

 

Waiting for the announcement.

At a fair, reasonable, and appropriate price, unlike a previous government? 

1 hour ago, Chang_paarp said:

Looks like the government will start buying rice in the next six months or so.

 

Waiting for the announcement.

I thought rice planting season just started. Where will the government buy rice from. 

The only people that seemed to have made a killing out of

all of this mess, are Godown owners,collecting storage fees

year after year.

regards worgeordie

At a fair, reasonable, and appropriate price, unlike a previous government? 

Absolutely. In the same way that the very necessary submarines were bought at a fair, reasonable, and appropriate price. Thank God this government stepped in and finally put an end to corrupt practices!

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30 minutes ago, brucec64 said:

Absolutely. In the same way that the very necessary submarines were bought at a fair, reasonable, and appropriate price. Thank God this government stepped in and finally put an end to corrupt practices!

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Thought the discussion was rice - and besides how would you know what was fair and reasonable when it comes to submarine purchases - we could discuss that as a separate issue if you wish. 

1 hour ago, Eric Loh said:

I thought rice planting season just started. Where will the government buy rice from. 

In my neck of the woods the farmers manage about 3.2 rice crops per year hence it's not so much a seasonal thing per se.

Thought the discussion was rice - and besides how would you know what was fair and reasonable when it comes to submarine purchases - we could discuss that as a separate issue if you wish. 

You're right. The topic is this government's mismanagement of the rice stocks. However, it is a fairly inconsequential in terms of the overall mismanagement of the current government.

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11 minutes ago, simoh1490 said:

In my neck of the woods the farmers manage about 3.2 rice crops per year hence it's not so much a seasonal thing per se.

Just caught news that the farmers ready to sell their second crop. Price would be severely challenged due to global rice surplus. 

Be so funny if all the Thai farmers flogged their new rice crops on Alibaba to the Chinese !