Thai Commerce mulling to attract more buyers in rice selling scheme

[webfact]

Commerce mulling to attract more buyers in rice selling scheme

BANGKOK, 11 June 2014 (NNT) -- The Ministry of Commerce has confirmed its plan to sell out more rice under the mortgage scheme in the near future.

Permanent Secretary for Commerce Srirat Rasathapana said after her meeting with rice millers, exporters and executives of the Agricultural Futures Exchange of Thailand (AFET) on Tuesday that the ministry was waiting for the green light by the National Council for Peace and Order.

Mrs. Srirat said the meeting also discussed how to promote rice auctions through AFET and other channels. Previous rice auctions by AFET drew only a few numbers of bidders, causing rice to earn lower prices than expected.

Therefore, the ministry is mulling over strategies to attract more buyers to AFET rice auctions by improving its information system and offering greater incentives for the participants.

-- NNT 2014-06-11

[ChrisY1]

Thai rice probably doesn't have the best reputation at present...

[worgeordie]

Thailand the hub of mulling and probing, 3 often used words,but just by Thai news agencies

regards worgeordie

[thumper101]

The reason there are few buyers that are interested, is that a low global price not only affects rice farmers worldwide, but it also shaves the margins of the buyers.

When is Thailand going to understand that the more rice you flood the market with, the more negative effect it has on all 'so far unsold rice'.

Thailand is also coming very close to the WTO putting a temporary ban on Thai rice exports if they continue to attempt to unload their stockpiles too quickly.

Who the hell is running this show from the Thai side? because they know sod all about world trade.

Edited June 11, 2014 by thumper101

[Thai at Heart]

Thailand the hub of mulling and probing, 3 often used words,but just by Thai news agencies

regards worgeordie

Soon, as coined by the Nation writers, "an URGE for Thailand to export more rice".

[surangw]

how to they market stale ( or non existant ) rice ?

[marko kok prong]

Thailand the hub of mulling and probing, 3 often used words,but just by Thai news agencies

regards worgeordie

Also 'luring'.