The proposal came after the government failed to sell all the rice it put up for general auction last week.
The bidding drew an active response from potential buyers, but managed to secure deals for only tens of thousands of tonnes. More details are not yet available.
Authorities put the failure down to the relatively low offers proposed by bidders.
Duangporn: The government will ensure grain quality..
Last week's auction drew 46 small, medium-sized and large exporters, millers and rice packers, but most of them proposed buying prices below the floor prices set by the panel handling rice sales.
Under the current floor price condition, the panel has imposed only floor prices. The figures were not disclosed.
Duangporn Rodphaya, director-general of the
She also insisted the government will sell the stocks with no mixture with low-quality grain.
Charoen Laothamatas, president of the
For instance, he said, the bidders offered to buy Hom Mali fragrant rice at
"The offers are considered realistic enough, as the rice put up for auction is sold at the ex-warehouse price in which the buyers have to bear the cost of transportation, sacks and labour," he said. "Moreover, the bidders have to pay withholding tax at 1% of the value of the rice they buy plus export tax at 0.75% of the export value if the grain is slated for exports."
He said another contributing factor is
The country exported 3.62 million tonnes of rice in the first seven months of the year, down from 4.06 million tonnes in the same period last year, according to the
In contrast, Thai exports were up 60% at 4.7 million tonnes in the first six months compared with the same period last year, according to the
"The market changes very fast, we need to wait and see how the military administration handles the rice sales."
The junta last month vowed to sell an average of 500,000 tonnes a month from existing state stocks and dispose of the existing 18-million-tonne surplus within three years through four channels.
Those channels are general auctions, government-to-government sales, direct sales and via the
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