After successfully auctioning the two rice auctions of government stockpiled rice, Thailand Commerce Ministry is poised to hold third rice auction later this month.
Department of Foreign Trade Director-General Duangporn Rodphaya said that
the third rice auction is instructed by rice management committee and the ministry is planning it to organize. The auction will include over 1 million tons of 12 different strains, coming from 101 silos at the Government Warehouse Organization and 52 silos at the Marketing Organization for Farmers. It is intended to compensate for the off-season supply which is on the decline.
The Ministry is also planning to find out a way how they can release another 14 million tons of substandard grains that remain unsold.
Rodphaya said that the terms and condition for participating in the auction will remain same as for earlier auctions. The task for inspection and previewing the grain for the auction has completed on June 12.Intersted bidders can submit their bids by June 15, 2015
He said that currently there is 6 million tons of rice left in stock. Of that amount, about 2.6 million tons are of good quality and will be gradually auctioned off, whereas the other portion of almost 14 million tons is considered substandard and is not fit for human consumption.
The Ministry is in talk with other ministries and industries on how to release this 14 million tons of substandard rice , including supplying it to the industrial sector.