The government plans to call a second auction for an additional 1 million tonnes of state-held rice later this month after the year's first auction in January drew 100 bidders.
According to a Commerce Ministry source, the government expects to have sold about 60% of the 1 million tonnes put up for sale at the first auction.
Official figures will be available after the ministry submits them for approval this week to the meeting of the National Rice Policy Committee chaired by Prime Minister Prayut Chan-o-cha.
The source said the first auction's outcome would have been announced earlier, but authorities took time to investigate the shareholding structure of one qualified bidder, Empire Development Co, which offered to buy more than 400,000 tonnes of rice at 47 warehouses.
Officials feared that Empire Development might have links to Siam Indica Co, as the two share the same address and Empire's authorised director was formerly a Siam Indica director and shareholder.
Siam Indica had been barred by authorities from joining the bidding after its indictment by the National Anti-Corruption Commission for graft related to the rice-pledging scheme.
But the source said authorities would still present the purchase proposal by the company for the National Rice Policy Committee's consideration.
The government fetched selling prices relatively higher than floor prices at the first auction, the source said, adding that sales of more than 60% would be deemed satisfactory.
The floor price for white rice was set at eight to 10 baht a kilogramme, while the market price is now 13 baht. The floor price for Hom Mali fragrant rice was set at 25 baht a kg against a market price of 31-33 baht.
The rice put up for auction included 850,000 tonnes of 5% white rice and 150,000 tonnes of Hom Mali rice.
Authorities estimate the cost of the rice put on sale at 11.7 billion baht.