The Commerce Ministry has approved the sale of 496,000 tonnes of rice, just under half the total offered for auction late last month.
Around 100 bidders participated in the auction for the 999,000 tonnes of grain.
Commerce Minister Chatchai Sarikulya said the rice was sold to 38 bidders for a total 7.85 billion baht. The amount sold was 49.64% of the total on offer.
The ministry refused to sell the remaining rice to disqualified bidders and will put it on sale later this month.
Gen Chatchai said China expressed interest in buying two million tonnes of rice and 200,000 tonnes of rubber for delivery in two years. Ministry officials returned from a visit to China over the weekend.