thiland riceAccording to one of the reports, it has been stated by Duangporn Rodphaya, Director General of the Foreign Trade Department, in Thailand that the government would continue with its plan to put a big lot of between 1 million and 2 million tonnes of stockpiled rice up for bidding next month, followed by further releases over the course of the year in a bid to clear current stocks by the year's end. However, under the release plan, the government will carefully consider putting aside safety stocks as rice output in the current harvest season is expected to be 15 per cent lower than in the same period last year, while domestic demand is forecast to remain the same  at 10 million tonnes as it was narrated . Further, it was explained that although the government could find buyers for its entire rice stockpile but it would not be able to ship all the stock this year and it will retain a few million tonnes as a carry-over from the new crop harvest. 

Further, as per sources, it has been indicated that there is currently less than 10 million tonnes of rice in the government stockpiles. In these stockpiles, about 3 million tonnes is of good quality rice while more than 2 million tonnes is for consumption or processing as feed meal. Another, 3 million tonnes is degraded or Grade C quality rice, which will be destined for the industrial sector, for use in producing biomass, fertiliser and fuel. Keeping in view, with a backdrop of the ongoing drought and high demand in the market, Duangporn narrated that the government would continue with its plan to put 1 million to 2 million tonnes of rice up for bidding next month. 


Meanwhile, the Department has also informed yesterday that 64 rice traders took part in the government auction for 2.23 million tonnes of rice. The proposed price for the bidding is in line with the market price, or slightly lower, which is acceptable .Further, in this matter, the Director-general also explained that with high global demand, Thailand should achieve its target of exporting 9.5 million tonnes of rice this year. As of Monday, the country had shipped 4.6 million tonnes worth Bt71.68 billion, some 13 per cent higher in volume and 9 per cent higher in value than in the same period last year. Since the current government came to power, a total of 9.71 million tonnes of rice has been sold out of an Shanti Agro Industries Pvt. Ltd.original stockpile of 18 million tonnes, generating revenue of Bt115.4 billion as it was informed by Director General.

 

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