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THB8 bn rice in Govt's warehouses auctioned off


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THB8 bn rice in Govt's warehouses auctioned off

 

BANGKOK, 30 August 2016 (NNT) - Rice traders and industrial factories have bid for 920,000 tons of rice worth more than eight billion baht in the government’s warehouses. 

The rice auction was held for the second time this year on Tuesday to sell 255,000 tons of rice. 10 from 13 rice traders and industrial factories who had passed a qualification test tendered for 169,000 tons of rice worth more than one billion baht or 66% of the total rice in this round of auction. 

753,000 tons of quality rice worth more than 7.4 billion baht auctioned on Monday and Tuesday’s auctioned rice equal more than 920,000 tons. 

Director-General of the Department of Foreign Trade Duangporn Rodphaya said a rice auction would take place according to rice demand in each period. An auction for rice exports could be held when new-season rice started entering the market, she said. The department would immediately organize a rice auction when the time was right in order to reduce its burden in storing the produce, said Ms. Duangporn.

 
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-- nnt 2016-08-31
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