Govt to auction 1.2 mn tons of rice

BANGKOK, 6 May 2016 (NNT) - The Ministry of Commerce is preparing to organize a new round auction for 1.2 million tons of rice in the government's warehouses. Rice traders can submit their document for the auction on 17 May and tender bids on 19 May.

Director-General of the Department of Foreign Trade Duangporn Rodphaya said the coming rice auction would be the third time in this year. The amount of rice to be auctioned would be the highest following rising demands in the market for broken-milled rice.

The official added that now was a good time to sell rice from the government's warehouses since second-season rice had not yet been harvested and some of the rice in the warehouses had been damaged. More damage was expected if the rice was not sold before the rainy season, she said.

The department allows those who want to participate in the auction to check rice in the warehouses from 10 -16 May.


-- NNT 2016-05-06

Wouldn't it be prudent to store this rice correctly as this years crop will probably fail due to drought ?

Will Jingluk have the first bid?