Authorities handling rice sales are proposing the government sell 11 million tonnes of state rice stocks that are a mix of different grades.
Duangporn Rodphaya, director-general of the Foreign Trade Department, said it would table the proposal for approval by the national rice policy committee chaired by Prime Minister Gen Prayut Chan-o-cha at a meeting on Feb 29.
Disposal could be made on a warehouse basis, she said.
The government holds about 13 million tonnes of rice in its stocks, down from 18.7 million accumulated from previous subsidy schemes. Two million tonnes are classified as standard grade, suitable for human consumption, with 11 million tonnes a mix of different grades including low-quality Grade C, which is not fit for human consumption.
The Commerce Ministry called an auction of the first batch of low-quality rice for industrial use, a combined 37,412 tonnes, from Nov 30 to Dec 1 last year. It sold 21,229 tonnes, fetching 198 million baht.
The ministry said Monday it would put another 570,000 tonnes up for auction, a mix of rice for human consumption and industrial use. Officials invited interested buyers to listen to the terms of reference yesterday, with prospective buyers submitting offers by Feb 17.
The government faces daily expenses of 30 million baht in maintaining the rice stocks.
The current administration said in January 2015 it was committed to disposing of the rice stock within two years. It estimated losses of 680 billion baht from previous governments' pledging schemes once the rice is sold.
The ministry reported in late 2015 that since the May 2014 military coup, 8.27 million tonnes of state rice had been sold from 18.7 million left over from various rice schemes, fetching 103 billion baht.