Thailand sells additional 1.66 million tonnes of rice

Thailand has sold an additional 1.66 million tonnes of rice worth 49 million USD from state stockpiles, reported the Ministry of Commerce.

Wednesday, June 14, 2017 19:24

Thailand sells additional 1.66 million tonnes of rice ảnh 1

A Thai farmer harvests rice (Photo: Thai Visa)

Bangkok (VNA) - Thailand has sold anadditional 1.66 million tonnes of rice worth 49 million USD from statestockpiles, reported the Thai Ministry of Commerce.

The amount sold accounted for 90 percent of thevolume open for auction last month.

Thailand is the world's second-biggest riceexporter after India, and still has stocks of about 3 million tonnes left overfrom the previous government's rice-buying scheme.

The current government said it will be able tooffload the remaining stock, including 160,000 tonnes of high-quality rice and2.7 million tonnes of spoiled rice, by the year-end.

Thailand officially set a target of exporting9.5 million tonnes of rice this year, but the Ministry of Commerce said 10million tonnes was also achievable.

The country plans to join a rice auction in thePhilippines, one of the world's leading rice buyers, which plans to buy 250,000tonnes of the grain next month to increase its stockpiles.-VNA

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