Commerce Minister Phumtham Wechayachai has announced that the government is close to finalizing the auction of 15,000 tons of rice leftover from the previous administration’s rice-pledging scheme. The Public Warehouse Organisation (PWO) has been instructed to hasten negotiations with the three remaining bidders after disqualifying three others linked to companies that faced legal issues in prior auctions.
The PWO is seeking improved offers from the current bidders, whose initial bids were lower than those disqualified. The objective is to achieve the highest possible returns from the rice stored across two locations.
Current bidding details indicate that B N K Agriculture 2024 Co placed the second-highest bid of approximately 16 baht per kilogram for 11,656 tons at the Kittichai warehouse, with Sup Saeng Thong Rice Co bidding 15.61 baht. For the 3,356 tons at the Poonpon Trading Co’s warehouse, Sahatan Co bid 18.69 baht per kilogram, and B N K Agriculture 2024 Co bid 16 baht.
Minister Phumtham has expressed his hope for a successful auction wrap-up, noting the impressive bids already placed. However, he stated that the auction would be voided and restarted if the bidders could not reach an agreement. (NNT)
