Commerce Minister Phumtham confident decade-old rice will be auctioned to African buyers in June, no political motive. Committee to decide auction details, expects up to 300 million baht revenue.
Commerce Minister Confident in Rice Auction to African Countries
Commerce Minister Phumtham Wechayachai expressed confidence that the decade-old pledging scheme rice will be auctioned off to buyers in African countries in June. He emphasized that there is no ulterior political motive behind the rice sale, refuting claims of whitewashing individuals. A committee consisting of representatives from various departments will oversee the auction, with decisions pending on whether to sell all 15,000 tonnes of rice in a single lot.
Rice Auction Expected to Bring Closure and Revenue
The minister anticipates an auction to take place this month, with a deal expected to be finalized in June. Bidders will have the opportunity to assess the rice’s quality and determine how they plan to use it. Stored in warehouses in Surin province, the rice inventory is split between two locations, potentially raising between 200 and 300 million baht for the state through the auction.
