Govt sells 780,000 tonnes of rice for B7bn

Govt sells 780,000 tonnes of rice for B7bn

The National Rice Policy and Management Committee on Tuesday approved the sale of 780,000 tonnes of rice from government supplies to 23 bidders, placing the value at 7 billion baht.

Thirty-one buyers joined the bidding on May 19 to buy 1.17 million tonnes of rice for 10 billion baht, but only 23 were qualified, said Duangporn Rodphaya, director-general of the Foreign Trade Department.

The approved price was between 11,050-11,500 baht per tonne for 5% white rice, 7,019-9,200 baht per tonne for A1 broken rice and 7,500-9,200 baht per tonne for broken fragrant rice.

"The approved prices are suitable to the current domestic and overseas rice market. This sale of the government's rice stocks will send a positive signal to the uptrend rice price," she said.

She said that from May 22, 2014 to May 29 of this year the government sold a total of 5.48 million tonnes of rice for industrial use valued at 58.3 billion baht via 13 bids.

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