The Rice Policy Management Committee has agreed to sell 780,000 tonnes of rice to 23 traders, from which the country should earn more than Bt7 billion.
Duangporn Rodphaya, director-general of the Foreign Trade Department, said that with rising demand for rice, the government could garner good prices from this auction. The average price for this lot is Bt11,050-Bt11,500 per tonne for 5-per-cent white rice. It will be the third auction of the year, and will result in a total of 1.2 million tonnes released so far in 2016. Altogether, the government has been able to sell 5.48 million tonnes of rice worth Bt58 billion in auctions in the past two years.