Bidding set for 2.24m tonnes of rice on June 15
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THE Commerce Ministry will open bidding on June 15 for 2.24 million tonnes of rice, the biggest lot in eight years, in a bid to accelerate the clearing-out of the government’s stockpiles while market demand is strong during the drought.
“Although the bidding amount is quite huge, it should not affect the market price as demand is high in the market.
“The government will consider the price factor and demand to ensure the utmost benefit for the country,” Duangporn Rodphaya, director-general of the Foreign Trade Department, said Thursday.
The auction amount is the largest since November 2008, when Samak Sundaravej was prime minister and Chaiya Sasomsub was commerce minister.
