AFET keen on rice stockpile auction | Bangkok Post: business

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AFET keen on rice stockpile auction

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The Agricultural Futures Exchange of Thailand (AFET) will propose the Commerce Ministry use it for rice auctions bought over a year ago under the government's rice-pledging scheme as a way to release huge stockpiles. 

AFET successfully auctioned 600,000 tonnes of government rice four years ago, and the government's stock greatly exceeds that figure, said Prasat Kesawapitak, AFET's chairman.

An unnamed source said rice traders and the Commerce Ministry urged AFET to propose the idea to help the government release stock and set a futures reference price for the grain.

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