Bangkok – The Ministry of Commerce is to auction off the last batch of rice bought under the previous administration’s rice pledging program.
According to the Department of Foreign Trade, 267,000 tons of rice will be up for sale on Thursday and Friday next week. Of the rice available at the auction, 245,000 tons is considered unsuitable for human consumption and the remaining 22,300 tons is deemed unfit for human or animal consumption and is intended for industrial use.
Documents related to bidders’ qualifications can be submitted to the Ministry of Commerce on August 27.
Meanwhile, since January 2018, the department says Thailand has already sold more than 7.1 million tons of rice to overseas buyers, accounting for a 2.6% increase on the previous year, while expressing confidence that next week’s rice auction won’t cause a price fluctuation in the domestic market.
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