Rice in state stocks goes on auction this week

NONTHABURI, June 13 (TNA) – The Commerce Ministry will open the auction for 2.2 million tonnes of rice for non- food industries on June 15 while traders started submitting document to apply for the bidding. Qualified juristic persons with permits for factory operation will be able to submit their bids on Thursday. In this round of auction, the rice in the government’s stockpiles comes from 167 warehouses in 30 provinces. Currently, rice in the state stockpiles has dropped to three million tonnes, including 2.2 million tonnes of rice for non-food industries to be auctioned on June 15 and 160,000 tonnes of rice fit for human consumption. The remaining 500,000 tonnes of rice neither suitable for consumption nor feed meal will go for the next auction in July. The government plans to empty rice in its stockpiles by the end of this year. Since the current government took power in May 2014, it has released 13 million tonnes of rice, worth 130 billion baht from the stockpiles. The rice exports from the beginning of this year to June 5 totalled 5.09 million tonnes, worth US$2.17 billion or an increase of 12.39 per cent. (TNA)