First regional rice bid 'a success'

First regional rice bid 'a success'

The first regional rice auction held in Suphan Buri on Wednesday was a success, with eight groups submitting bids.

The Commerce Ministry called a bid in the central province to sell 169,000 tonnes from the state stockpile for domestic sales or export.

The grain was from the 2012/13 and 2013/14 crop years.

The bidding envelopes were opened on the same day to screen those meeting the benchmark prices before submitting them to caretaker minister Niwatthamrong Bunsongphaisan for approval.

Another 420,000 tonnes will be auctioned on April 10 with the envelopes opened the next day.

As for sales through the Agricultural Futures Exchange of Thailand (AFET), the 9th auction was held on Wednesday for 264,000 tons, attracting 15 bidders.

The ministry has called eight bids to sell 500,000 tonnes for 6 billion baht.

The next auction is scheduled on April 23 for 200,000 tonnes.

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