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Decade-Old Rice Auction Fetches Nearly 300 Million Baht


webfact

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Regarding rice, there is a shortage of risotto rice in Italy due to drought.  It retails at over 170baht/kg.  Always wonder why Thailand does not grow arborio or carnoroli rice for export to Italy.  Thais, after all, are experts at rice growing.

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3 hours ago, redwood1 said:

 current price of new 5% white rice, which stands at 21.50 baht per kilogram.

 

15,000 tons of 100% grade 2 jasmine rice totalled nearly 300 million baht, averaging a price of 19 baht per kilogram.

 

 

Your telling me the buyer will be just fine with a 2.5 baht per kilo profit? If even that with all the overhead..

Sorry some thing besides the rice is rotten here...I am not buying it...

Agree - was the first thought I had.

Would also have been relevant to have had a little background on 

8 hours ago, webfact said:

V8 Intertrading Co., Ltd., based in Kamphaeng Phet

 

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3 hours ago, redwood1 said:

Your telling me the buyer will be just fine with a 2.5 baht per kilo profit? If even that with all the overhead..

Sorry some thing besides the rice is rotten here...I am not buying it...

 

They're not making a 2.5 baht profit.  They're making 2.5 baht more than they would had they bought the rice at market price.

 

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7 hours ago, Dcheech said:

Yet they chose to let it it sit ... potentially rotting,  but for what reason?

 

Warehousing fees.

 

 

 

This rice has been auctioned before, but the winning bidders could not come up with the cash.

 

 

Expecting the same now.

 

 

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7 hours ago, Dcheech said:

but for what reason?

Held back by the junta that overthrew Yingluck's government as evidence in her trial brought by the junta.

 

7 hours ago, Dcheech said:

They did not want to get money, to give back to the farmers?

"The Thai government, led by Prime Minister Yingluck Shinawatra, implemented the rice pledging scheme immediately after the 2011 election, to give Thai farmers the opportunity to pledge and then provide an unlimited supply of their rice to the government at a higher price for their crops than they would obtain by selling them at market rates. The ultimate goal of the scheme was to increase rice prices to safeguard farmers from middlemen."

Aug. 7, 2013,  https://www.loc/

 

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7 hours ago, OneMoreFarang said:

I wonder if they will tell them the history of this old rice.

Hm,.. Somebody there will know, it's on the net, and it can not stay secret ! and in those countries they also have people that travelled to Thailand,

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6 minutes ago, off road pat said:

Hm,.. Somebody there will know, it's on the net, and it can not stay secret ! and in those countries they also have people that travelled to Thailand,

Yes, someone will know. But do they want to know?

Maybe they can sell Thai rice for a good price over there. And I guess on the final package in the supermarket there won't be a warning: This rice is over 10 years old. Make sure you wash it at least 15 times. 

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9 hours ago, MarkBR said:

Always wonder why Thailand does not grow arborio or carnoroli rice for export to Italy.

 

They probably want to be able to say "this is Thai rice".  If they grew a different rice, then it would be like admitting that Thai rice isn't the best.

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Can see Thai rice reputation going down the loo then, and I bet strange gastroenterological symptoms sweeping the country and beyond. 

All there gonna do is dilute it with fresher rice, bulk it up

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