The second rice auction, held yesterday by the military regime, attracted 38 bidders.
Through the Foreign Trade Department, the government auctioned 139,000 tonnes of mainly Hom Mali, white glutinous and broken Hom Mali rice.
White rice was not included, as quality inspections by authorities are still pending.
Department director-general Duangporn Rodphaya said 90,000 tonnes of rice fetched offers higher than the floor prices set by the panel handling rice sales.
Offers by bidders averaged 26,500 to 29,500 baht a tonne for Hom Mali rice and 14,000 to 18,500 baht a tonne for 10% glutinous rice.
"This shows demand for Hom Mali fragrant rice remains strong," Ms Duangporn said.
The bids will be assessed by the rice panel before approval can be granted.
Thailand's military regime, which halted rice sales to carry out nationwide stock inspections, last month resumed sales of rice the previous government stockpiled over the past two years during the costly pledging scheme.
The National Council for Peace and Order allowed the first lot of 167,000 tonnes to go under the hammer on Aug 7, drawing 46 exporters, millers and rice packers.
But it approved the sale of only 73,000 tonnes of rice to 11 winning bidders for 740 million baht, as most bidders made offers below floor prices.
Ms Duangporn said authorities amended certain conditions and the bidding process for the second auction in order to make it more enticing for buyers.
Floor prices were still imposed but with flexible conditions and based on market prices. Costs of improving rice quality and transport were also taken into account for the floor prices, she said.
Flexible conditions allowed small rice traders to participate in the auction. They could use cashier cheques issued by all banks nationwide as collateral. The delivery amount and period of delivery from state warehouses were extended from not more than 4,000 tonnes in 15 days to not more than 10,000 tonnes in 20 days.
Previous conditions required successful bidders to place cashier cheques issued only by banks in Bangkok as collateral.
Manus Kitprasert, president of the Thai Rice Millers Association, said active participation from the bidders stemmed mainly from the short supply of Hom Mali rice and the auction's transparent and flexible conditions.