Government rice stocks near depletion

PUBLISHED ON WED, MAY 16, 2018 3:27 PM

Government rice stocks near depletion

 

PNECO610516001000101.jpg

 

BANGKOK, 16 May 2018 (NNT) – Thailand's Department of Foreign Trade (DFT) has announced that over 14.8 million tons of the more than 18 million tons of rice in government stocks, acquired through pledging since May of 2014, has been released to market and the stocks are likely to be depleted by next month. 

DFT Director-General, Adul Chotinisakorn, said a general auction of consumer grade rice covering 44,000 tons will start this week with registration of bidders. A significant number of private buyers are expected to take part in the auction. 

Another 1.5 million tons of industrial grade rice will begin to be auctioned from June 14 with another 500,000 tons of rice not consumable by people or animals to be put to auction from June 15. Each type of rice must be purchased and put to use according to its grade with legal repercussions for misapplication. 

Adul pointed out that the depletion of the government rice stock will alleviate downward pressure on the price of Thai rice. Currently, Thai Hom Mali rice is priced at 1,161 USD per ton and 5 percent white rice is priced at 450 USD per ton.

 
nnt_logo.jpg
-- nnt 2018-05-16
latest news from Thailand

Video: Applause greets Thai hero as young boy saved from drowning in Germany  Further details have emerged of the incident in Germany when a 7-8 year old foreign boy was saved by a Thai man working in the country. The hero of the hour was named as Nong Khai native Mack Ruchanon. He saw the boy...

READ MORE...

Hunt on for ten Thais involved in multi-million baht kidnapping of Hong Kong woman  Police are hunting ten Thais involved in the abduction of a Hong Kong woman.  Some 2 million Yuan or 10 million baht was paid in ransom by the husband and family of the victim referred to as "Jinchai". She arrived...

READ MORE...

Pheu Thai politicians deny sedition charges for holding a press conferenceBy The Nation  Eight key figures from the Pheu Thai Party on Monday met police as summoned on criminal charges in connection with their press conference held ahead of the fourth anniversary of the 2014 coup. They had all...

READ MORE...

Police, FDA raid premises of maker of sibutramine-laced food supplementsBy The Nation  Deputy national police chief Pol General Weerachai Songmetta led a police raid on Monday on a company making and selling food supplements containing the dangerous appetite suppressant sibutramine, in Bangkok’s...

READ MORE...
sponsors