Bidders keen on inedible rice

Bidders keen on inedible rice

A man checks the quality of state rice stocks stored at a warehouse in Nakhon Pathom province. The latest bid drew active participation. APICHART JINAKUL
A man checks the quality of state rice stocks stored at a warehouse in Nakhon Pathom province. The latest bid drew active participation. APICHART JINAKUL

Twenty-two bidders have proposed buying 1.48 million tonnes of the government's inedible-grade rice stocks for animal feed, representing 99% of the 1.49 million tonnes put up for auction by the government.

The Foreign Trade Department, which handles state rice sales, yesterday revealed that the state auction for inedible-grade rice stocks drew active participation from interested parties, with a total of 26 bidders meeting the qualification requirements.

But 22 qualified bidders had submitted their purchase envelopes yesterday, 18 of them having proposed the highest prices to buy a combined 1.48 million tonnes from 18 state warehouses for 8.44 billion baht. Proposed buying prices averaged 4,967 baht a tonne.

The highest demand was for 870,000 tonnes of 5% white rice, followed by 470,000 tonnes of Grade A broken rice.

According to Adul Chotinisakorn, director-general of the Foreign Trade Department, the working group on government rice sales will shortly consider the bidding prices and submit them to the Rice Policy and Management Committee for approval next month.

He insisted that stringent control measures will be applied to prevent the leakage of inedible-grade rice into the normal rice market, warning that the winning bidders will be subject to maximum legal penalties if they breach the purchase conditions.

The government disposed of 14.8 million tonnes of the state's rice stocks worth 135 billion baht from May 17, 2017 to April 25, 2018.

Earlier this month, the government approved the sale of the final edible-grade rice stocks totalling 43,700 tonnes with a value of 534 million baht to nine bidders after postponing the auction for almost a year.

The lots include 24,000 tonnes of 5% white rice, 7,000 tonnes of 100% hom mali fragrant rice and 6,000 tonnes of provincial fragrant rice. The remaining rice consists of glutinous rice, broken white rice and broken hom mali rice.

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