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Published on April 26, 2008

Petchanet Pratruangkrai

The Nation

Thailand followed with an offer of $1,080 to $1,190 per tonne for 195,000 tonnes, while Pakistan offered to sell at $870 per tonne for 25,000 tonnes.

Offer prices at the Philippine auctions were new records for 25-per-cent white rice, which is the lowest of the six grades of white rice.

The Philippine government will open another round of auctions on May 5 for a total supply of 500,000 tonnes, plus another 175,000 tonnes as it received only about 325,000 tonnes in yesterday's auction.

Rice Exporters Association president Chookiat Ophas-wongse said bidding prices were very high and urged the Thai government join the next auction, as all bidders are required to have government guarantees.

"The government should also consider government-to-government deals to support Thai exporters," Chookiat said.

Ponglarp president Som-pong Kitireanglarp one of the bid winners, said exporters were satisfied with the bidding results.

Howeve r, he said orders had slowed down from other rice-buying countries, due to skyrocketing rice prices.

The Philippines is currently one of the few buyers ready to pay higher rice prices so the government should participate in the next Philippines bidding to ensure there are more orders. Sompong suggested Thailand turn to government-to-government contracts by offering to sell 100,000-200,000 tonnes and then distribute the orders among members of the Rice Exporters Association.

Thai rice millers and exporters have adequate stocks to fill orders for the Philippines and other buyers, he added.