Commerce Ministry expects to clear at least 100,000 tons of stockpiled rice

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BANGKOK, 21 Dec 2013,The Commerce Ministry expects to clear at least 100,000 tons of stockpiled rice via the 3rd auction through Agricultural Futures Exchange of Thailand (AFET). 

According to Deputy Commerce Minister Yanyong Puangrach, 8 additional packed rice producers and related entrepreneurs have shown interest in the auction of the 150,000 tons of pledged Jasmine and white rice.

However, the average bidding prices for Jasmine rice and white rice have fallen by 1-2.30 baht per kilogram, and 1.78 baht per kilogram respectively, Mr. Yanyong stated.

The government is expecting to sell no less than 100,000 tons of rice in its stockpile in the third auction, in addition to the 92,000 tons it sold during the previous round of bidding, he added.