Stockpiled rice to be sold via G2G deals
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 tomorrow.
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 tomorrow.
“The government will [send officials] to South Africa and Mozambique to sell rice under G2G [contracts], and will gradually consider open bidding for rice during the rest of the year,” she said.
The government also plans to sell rice to Indonesia and the Philippines under G2G contracts.
Meanwhile, China has asked for a postponement of negotiations to purchase 1 million tonnes of rice as Chinese officials are not available. Previously, the meeting was set for this coming Friday.
However, Chutima Bunyapraphasara, permanent secretary of the Commerce Ministry, said China would soon set up a new appointment and continue its plan to purchase rice under a G2G contract.
