The government yesterday approved the sale of 755,000 tonnes of rice stocks to 11 winning bidders for a combined 7.2 billion baht. The sale accounted for 74.8% of the 1 million tonnes put up at the latest auction. The Foreign Trade Department called a bid last month to sell a combined 1 million tonnes of state rice stocks. The government currently controls less than 9 million tonnes in state stocks, a sharp drop from 18.7 million tonnes accumulated through various rice-pledging schemes during 2011-14. The government remains confident about disposing of all state rice stocks next year.

Source: Bangkok Post September 07, 2016 23:37 UTC