V8 Intertrading won a bid for 15,000 tonnes of ten-year-old rice at Bt19.07/kg. Six companies bid. The Commerce Ministry expects a deal to be concluded today, marking the end of the rice pledging scheme.
V8 Intertrading Wins Bid for 15,000 Tonnes of Ten-Year-Old Pledging Scheme Rice
V8 Intertrading emerged as the successful bidder for 15,000 tonnes of ten-year-old pledging scheme rice, offering Bt19.07/kg in the auction conducted by the Public Warehouse Organisation today. This bid was the highest among the six local rice trading companies participating in the auction.
Confidence in Marketability of Rice Despite Age
Despite the rice being ten-years-old, companies like V8 Intertrading, Tanasan Rice, SSMR Karnkaset, Sup Saeng Thong Rice, Sahatan, and BNK Agriculture showed confidence in its marketability due to the high demand for rice globally. Commerce officials are now in negotiations with the winning bidder and are expected to conclude the deal today, marking the potential end of the controversial rice pledging scheme.
