Thailand sells 1 million tonnes of rice at first bidding

Illustrative image (Source: EPA/VNA)

Bangkok (VNA) – The Thai Government has approved the sale of one million out of the 2.87 million tonnes of rice offered at this year’s first general auction of the state rice stock in February.

The Government and the national rice policy and management commission decided to turn down bidders offering low prices. 

They said they would consider proper prices for the remaining stock.

From the beginning of the year to date, Thailand has shipped overseas 1.6 million tonnes of rice. 

By the end of January, the state rice stock had 8 million tonnes, of which about 3.01 million tonnes are safe for people’s consumption, while the rest can be used for producing animal feed or other industrial purposes.

Prime Minister Prayut Chan-o-cha has stated that Thailand is determined to empty its rice stock this year.