A total of 246,000 tonnes out of the 400,000 tonnes of rice were sold during the fourth round of auction this year in Thailand with 21 companies clinching deals.

The Thai Department of Foreign Trade will officially announce the auction result at a later date after receiving the approval from the National Rice Policy Committee, which is expected to meet after the New Year holiday.

The Thai Government will seek to strike a deal with the private sector on the remaining 150,000 tonnes, whose prices in the last round of auction were still lower than the minimum prices.

Meanwhile, Director-General of the Department of Foreign Trade Duangporn Rodphaya stated that this year’s rice exports should be as high as 10.7 million tonnes worth about 5 billion USD.

She predicted that next year’s volume will be slightly lower, but the value will increase to 5.2-5.3 billion USD due to lower global output affected by natural disasters and drought and rising demands.-VNA