Rice Auction Fetches 19.4 Billion Baht
BY VIRAJ SHAJ



BANGKOK: -- The Thai government sold nearly 2 million tons of rice in its latest auction, the largest amount since the National Council for Peace and Order took over. The auction generated about 19.4 billion baht.

Foreign Trade Department director-general Duangporn Rodphaya said the latest auction accounted for about 89.2% of the 2.23 million tons the government put up for bid under the military administration.

Offers have been submitted by 64 bidders, the department reported on Wednesday. The highest bids came from 39 bidders for a combined 1.99 million tons from 152 warehouses.

Although the grains are old, the auction fetched a good price, says Ms. Duangporn. The proposed price for the 5% white rice was 10-11 baht per kilogram. The market price for new grains is currently 13-14 baht per kilogram.

Full story: https://ethailand.com/business-news/rice-auction-fetches-19-4-billion-baht/2912/

-- eThailand 2016-06-17

Although the grains are old, the auction fetched a good price

Did you tell the buyers the quality and age this time?

How much better might these auctions been if they had been organised properly. Last report I read some of the successful bidders found their lots did not exist or were rotten or not to specification. Typical shambles.

Lets hope they sold rice they've actually got this time...

Bids in?

Check

Bidders verified?

Check

Deposits secured?

Check

Press releases prepared?

Check check check

PM notified to make a big deal of it next Friday?

Check

Rice quality and amount verified?

Erm.....

Winnie

When the last auction went wrong people blamed the previous government, so I guess we should now thank Yingluck for this auction.

Thank you Yingluck for earning the country almost 20 billion baht.

(no, this is not a serious post)

Although the grains are old, the auction fetched a good price

Did you tell the buyers the quality and age this time?

".... the quality and age....."

I think "vintage" is more appropriate.

2012/13 were good years for Thai rice, aged gently in the warehouses, bringing it to maturity in time honored tradition.

Now available to discriminating buyers around the world..