The Department of Foreign Trade will call the first auction of 2.8 million tonnes of rice from its 8 million tons in stocks this year in bid to clear its huge stock of eight million tons before second crop output enters the market.
According to the director-general of the Department of Foreign Trade, Ms Duangporn Rodphayathi, also chairman of the Government Rice Stocks Management Committee, the first round of public bidding for 2.87 million tons of rice stocks this year will be held this month.
She said the Ministry of Commerce has decided to speed up public auctions of rice stocks because it expected the influx of off-season rice crops to begin arriving in government warehouses in April of this year.
She said the 2.87 million tons are made up of rice stocks from 274 rice storage facilities located in 41 provinces throughout the country.
The government will open its warehouses to interested bidders to check the rices from February 6-10, and require them to submit their qualifications on February 14.
They are required to submit tenders on February 16 and result of the public bidding will be announced at the same day.
With regards to the 5.2 � 5.3 million tons of rice stock still remaining in government warehouses, Ms Duangporn stated that a consideration will be made to schedule the appropriate time but must be done before May of this year.
Source: Thai Public Broadcasting Service (Thai PBS)