Thai government has planned to sell 1 million tons of rice through auction on Jan 29, 2015. Of the 1 million tons, 850,000 tonnes of rice is 5% broken and remaining 150,000 tons is jasmine rice.
Presently Thai broken rice is available in market at the rate of $410 per ton and Thai Hommali is available at $925 per ton. Abundant rice production all over the rice producing countries have bring down the global rice export prices with Vietnam’s rice prices being the lowest.
Last week, Thai Commerce Minister has decided to dispose off its rice stock under rice pledging scheme within coming two years. Of total 17 million tons of rice, the government has decided to dispose 10 million in this year only and remaining 7 million in 2016.
Thai Government has sold around 681,740 tons of rice last year in four tenders and has also signed a G-to-G deal for about 570,00 tons .
It now hold around 17 million tons of rice in its stock Of 17 million tones of rice, 2.35 million tones were of standard quality and considered Grade A rice. 13 million of rice was categorized as Grade B as the grains did not passed the quality test but quality could be improved for sale.About 700,000 tonnes of rice had gone bad, while another 67,000 tonnes did not match with types detailed on registration records, so they were classified as Grade C.
Thai Commerce Minister General Chatchai Sarikalya said Monday that in 2014 Thailand has shipped 10.8 million tons of rice valued at US$5.37 billion (Bt174.8 billion) overseas
This year Thailand aims at exporting 11 million tones of rice to rice importing nation and this is almost 64% above than the rice exported by Thailand in 2013 which was 6.6 million tones and 22% above in terms of value which was invested in 2014 of $4.42 billions