BANGKOK, 12 February 2014 The Ministry of Commerce is set to auction 460,000 tons of pledged rice today in a bid to secure funds to pay farmers in the scheme.
Bidders have been invited to take part in the auction for the rice pledged during the 2011/2012 off-season and the 2012/2013 harvest. The government has hoped to attract exporters or domestic distributors to the auction, which will be held at the Department of Foreign Trade from 9 AM to 4.30 PM.
The unveiling of bidders will take place tomorrow and the results will be announced no later than Friday.
The government has desperately been trying to pay farmers who have pledged their grains since October of last year. Many have not been paid in more than 5 months.
Members of the network of farmers, meanwhile, remain at the Ministry of Commerce in protest against the government’s delayed payments.
