Government admits it will take a loss on planned sales of stockpiled rice | Bangkok Post: business

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Government to take big loss on rice sales

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The government is prepared to take a big loss as it struggles to offload record stockpiles of rice built up through the state-buying programme, with plans to call for bids on the ageing hoard of grain every two weeks. 

Workers at Choke Santi miller load rice bran on to a truck for shipment. (Photo by Panumas Sanguanwong)

"The sale will probably be at a loss as the government aims to increase domestic prices, not to make profits out of the program," Deputy Commerce Minister Yanyong Phuangrach told reporters on Friday in the central province of Ayutthaya, where the cabinet was meeting.

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