Thai commerce ministry to begin auctioning rice stockpiles in first quarter

Jan 10, 2017
Thailand, the world's second-biggest exporter after India, has struggled to offload its stocks following the end of a rice-buying scheme under the previous, civilian government.
Thailand, the world’s second-biggest exporter after India, has struggled to offload its stocks following the end of a rice-buying scheme under the previous, civilian government.

Thailand will begin auctioning about 8 million tonnes of rice from government stockpiles in the first quarter this year, the commerce ministry said today from Bangkok.

Thailand, the world’s second-biggest exporter after India, has struggled to offload its stocks following the end of a rice-buying scheme under the previous, civilian government.

In a statement, the ministry said it plans to offload the remaining stocks by the end of this year.

A meeting on Monday had “approved guidelines for the management of rice left over in stocks,” said Duangporn Rodphaya, the chief of the ministry’s foreign trade department.

“The foreign trade department will expedite implementation of the resolution and consider the offloading of stocks in order not to affect the market and the rice situation at home and abroad,” she said. – Reuters¬†

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