BANGKOK, July 8 – Thailand’s Commerce Ministry affirmed its readiness for transparent rice auction, which is set to start for the first time at the end of this month.
Deputy Prime Minister/Commerce Minister Niwatthamrong Boonsongpaisan spoke about the rice release plan, saying that the government wants to release rice in its stockpile as soon as possible, in a transparent manner.
Rice auctions would be held several times per month, he said, each time putting 200,000-300,000 tonnes on offer, while auction prices should not be lower than market prices, with the lowest rice price to be announced by the government.
Minister Niwatthamrong said the government will provide information on rice releases to the public so that all parties concerned will be aware of and receive the best prices at the auctions.
The government will speed up shipping rice to Thailand’s trading partners which have signed government-to-government agreements with Thailand. Teams will be sent overseas to achieve more proactive strategies on rice sales, while information on the quantity of rice sold and buyers will be shared to public. However, Mr Niwatthamrong said information on prices will remain confidential, as it is a sensitive matter.
He added profit loss incurred from the government’s rice pledging scheme in the past year will be reviewed and concluded later, for it still lacks several parts of information.
Concerning talks with representatives of Thai rice farmers on rice pledging prices, the minister said rice must be discussed again and cannot be concluded immediately. However, he said prices offered must be fair for farmers.
