Govt may lose B72bn on rotten rice | Bangkok Post: business

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Govt may lose B72bn on rotten rice

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With nearly 17% of the rice in government warehouses rotting, the government may face a loss of 72 billion baht by selling it off at rock-bottom rates. 

Three million of 18 million tonnes of rice stockpiled under the former government's rice-pledging scheme have deteriorated to the point where only ethanol producers may be interested in it, said Panadda Diskul, permanent secretary in the Prime Minister's Office. His team has finished checking 90% of the stock.

One source said deteriorated rice that remains edible must be sold at low prices as buyers would have to improve its quality at a cost of between 2,500-3,000 baht a tonne.

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