BANGKOK, 11 June 2014 — The Ministry of Commerce has confirmed its plan to sell out more rice under the mortgage scheme in the near future.
Permanent Secretary for Commerce Srirat Rasathapana said after her meeting with rice millers, exporters and executives of the Agricultural Futures Exchange of Thailand (AFET) on Tuesday that the ministry was waiting for the green light by the National Council for Peace and Order.
Mrs. Srirat said the meeting also discussed how to promote rice auctions through AFET and other channels. Previous rice auctions by AFET drew only a few numbers of bidders, causing rice to earn lower prices than expected.
Therefore, the ministry is mulling over strategies to attract more buyers to AFET rice auctions by improving its information system and offering greater incentives for the participants.
