Stockpiled rice to be sold via G2G deals

MONDAY, June 13, 2016

THE Commerce Ministry will continue to focus on government-to-government (G2G) contracts for the release of rice from stockpiles, as well as general rice auctions in the second half of the year after opening a big-lot bid for 2.24 million tonnes Wednesday

Duangporn Rodphaya, director-general of the Foreign Trade Department, said the government would continue to release rice from the stockpiles in the second half as it foresaw high demand due to drought in many countries, resulting in lower production.

There are still about 10 million tonnes of rice in the government stockpiles, including the 2.24 million tonnes up for auction Wednesday.