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DFT seeks end to court injunction against low grade rice auction


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DFT seeks end to court injunction against low grade rice auction

 

BANGKOK, 4 July 2017 (NNT) – The Department of Foreign Trade (DFT) has submitted an appeal with the Administrative Court to allow the auction of 500,000 tons of low-grade rice this week. 

DFT Director-General Duangporn Rodphaya stated her office has submitted an appeal against an Administrative Court ruling blocking the sale of low grade rice from state silos that stemmed from a complaint filed with the Central Court by TPK Ethanol Co Ltd, which was to be the highest bidder in the auction. 

The DFT has deemed TPK Ethanol as unqualified to contest in the auction as it has a standing case with the department from 20 years ago. The disqualification necessitated the new round of auctioning. 

Duangporn assured nonetheless that the state rice auction has followed due process and is transparent, while acknowledging the legal trouble could delay the release of rice, which costs the state 31.5 million baht to store monthly. 

The department has prepared a remaining 160,000 tons of general grade rice for inspection by prospective buyers this July 7 with submissions for auctioning to open on July 13 and the auction to take place on July 18.

 
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-- nnt 2017-07-04
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2 hours ago, worgeordie said:

" which costs the state 31.5 million baht to store monthly. "

give it away,do anything to get rid of it,it's a black hole,

regards worgeordie

 

It that rice is 4 years old then 48 (months) x 31.5 million baht comes to 1.512 billion baht.

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4 hours ago, worgeordie said:

" which costs the state 31.5 million baht to store monthly. "

give it away,do anything to get rid of it,it's a black hole,

regards worgeordie

No, you can make a very good rice glue.

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