Thailand will be able to sell 1 million tonnes of rice a month and earn enough to cover the rice pledging programme money owned to farmers, said Director General of the Department of Foreign Trade (DFT) under the Commerce Ministry Surasak Riengkrue.
Surasak said that another batch of 800,000 tonnes of stockpiled rice will be sold between late February and early March. Of which 300,000 tonnes will be auctioned in the first two weeks to local rice mills for domestic consumption.
Another 300,000 tonnes will be sold to international trading partners, and the remaining 200,000 tonnes will be auctioned through the Agricultural Futures Exchange of Thailand (AFET), he added.
Earlier, the local authorities sold 600,000 tonnes of rice, netting a profit from the transactions in February of 20 billion THB.
Surasak reassured rice farmers that his department will do its best to sell the rice stockpiles so that it can obtain all the funds needed to pay out the government’s overdue payments.-VNA
Surasak said that another batch of 800,000 tonnes of stockpiled rice will be sold between late February and early March. Of which 300,000 tonnes will be auctioned in the first two weeks to local rice mills for domestic consumption.
Another 300,000 tonnes will be sold to international trading partners, and the remaining 200,000 tonnes will be auctioned through the Agricultural Futures Exchange of Thailand (AFET), he added.
Earlier, the local authorities sold 600,000 tonnes of rice, netting a profit from the transactions in February of 20 billion THB.
Surasak reassured rice farmers that his department will do its best to sell the rice stockpiles so that it can obtain all the funds needed to pay out the government’s overdue payments.-VNA
