AFET eyes rice stocks to spur trading | Bangkok Post: business

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AFET eyes rice stocks to spur trading

  • Published: | Viewed: 1,859 | Comments: 0
  • Newspaper section: Business
  • Writer: Nuntawun Polkuamdee and Wichit Chantanusornsiri
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The Agricultural Futures Exchange of Thailand (AFET) expects the government's plan to release pledged rice in its stockpile through the market will create at least 50,000 trading contracts for every 1 million tonnes of rice tendered through auctions for the six-month period. 

Acting president Sakda Thongpalad said the market's rice product trading volume will be increased by almost 10,000 contracts, with 15 tonnes per contract per month.

His comments came after the Commerce Ministry's subcommittee overseeing the rice stock release, chaired by Commerce Minister Niwatthamrong Bunsongphaisan, approved the sale of between 500,000 and 1 million tonnes bought via pledging through AFET within six months.

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