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Thailand’s rice pledging scheme to go ahead

Thailand’s caretaker Commerce Minister Niwatthamrong Boonsongpaisan has pledged to continue distributing rice from 2013-2014 harvest to the market to avoid excessive stock, while the rice sales under the government-to-government (G2G) contracts have been suspended.
Thailand’s caretaker Commerce Minister Niwatthamrong Boonsongpaisanhas pledged to continue distributing rice from 2013-2014 harvest to themarket to avoid excessive stock, while the rice sales under thegovernment-to-government (G2G) contracts have been suspended.

According to the minister, the National Rice Policy Committee meetingon December 11 has resolved to accelerate sales of its rice stock,mainly from 2013-2014 harvest, which continues pouring into the statestockpiles.

He said advance deals can still be made underthe approved volume of 500,000 – one million tonnes, but the caretakerministry would have to consult the Council of State on whether the ricecan be released through open biddings.

He said G2G ricedeals made with several countries have been suspended. He said that manycontracts have been concluded such as with Iran of 250,000 tonnesof rice which is now being released. China agreed to buy two millionstonnes of rice from Thailand and another 600,000-800,000 tonnes will beoffered for auction.-VNA
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