According to the sources, it has been revealed that a large amount of operators have submitted their requests to join in the third government rice stock auction to take place on May 19 as the stock has up to 1.2 million tons of rice. In view of following an announcement for the auction from the Department of International Trade Promotion (DITP), many operators were seen requesting attendance at the auction this morning. All will be vetted ahead of the auction on May 19.
Further, in this matter, DITP Director-General Duangporn Rodphaya informed that the auction comes at an opportune time as demand for rice on the market is high and output from farms is also quite considerable, meaning that while auction prices will be satisfactory and the moving of stock will also allow for the new batch of rice to be moved in. The DITP expects up to 80 percent of the stock being put up for auction to be bought .The stock is from 121 silos in 30 provinces and ranges from lower grade and damaged rice to high grade rice. It has been narrated that about 11 million tons of rice remains in state silos and are being reviewed for auction in the future too.