The Thai Ministry of Commerce will open bidding for 200,000-300,000 tonnes of rice in the next two weeks under the government's plan to accelerate the release of its stockpiles.

The continuation release of rice stocks should ensure that Thailand would be able to export a total of 7 to 8 million tonnes of rice this year, the ministry reported. The bidding will also ensure that the ministry is able to return more than 200 billion THB to the Finance Ministry by the end of this year so that it can fund the rice pledging scheme.

The ministry is also set to meet with Thai trade advisers worldwide on September 23 to review its export target for this year amid dropping demand in many markets. The meeting will review whether to adjust the export target for this year, which is set at 7-7.5 percent expansion.-VNA