BANGKOK – The Department of Foreign Trade is preparing to auction out its first lot of low-quality rice to the industrial sector, while winners of the auction must have in hands plans of how they will use the rice stock for. This will prevent the low-quality rice from being sold for consumption purposes.
The first lot to be auctioned involves a total of 37,000 tons of low-quality rice from 7 government storehouses located in the provinces of Chai Nat, Nakhon Pathom, Nakhon Ratchasima, Nakhon Si Thammarat, Nakhon Sawan, Phitsanulok and Surin.
The department will hold a press conference to explain bidding details to interested buyers on November 23. It will accept applications for the bidding on November 30, and will announce the list of eligible buyers on December 1.
The move will serve as a test to the bidding process for low-quality rice after the government has issued a new policy of strictly monitoring rice being transferred from warehouses to non-food industries to ensure the rice is not used for consumption. Buyers will need to present proof of how they will utilize the rice.