2.73m tonnes of rice released
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Thailand has released 2.73 million tonnes of rice from its stockpiles during August 2014 and June, according to the Commerce Minister.
Until June 16, the rice has generated Bt30 billion through seven bidding rounds. The latest bidding round took place on June 16, attracting bids for 840,000 tonnes or 79 per cent of the rice put on auction.
Commerce Minister Gen Chatchai Sarikalya said Wednesday that the ministry has maintained the target to export 10 million tonnes of rice this year. Until June 15, the export volume reached 3.9 million tonnes at the average price of US$507 a tonne, which dropped by 2 per cent from the same period last year.
He expected the situation to improve in the later months of the year, thanks to persistently high demand against lower output as drought hits many rice-exporting countries.
