A total of 246,000 tons out of the 400,000 tons of rice were sold in the 4th round of auction this year with 21 companies able to clinch the deal, out of the 34 participants.

The Department of Foreign Trade would officially announce the auction result at a later date after receiving the approval from the National Rice Policy Committee which is expected to meet after the New Year’s holiday.

The Government would seek to strike a deal with the private sector on the remaining 150,000 tons, whose prices in the last round of auction were still lower than the minimum prices.

Meanwhile, Director-General of the Department of Foreign Trade Duangporn Rodphaya stated that this year’s rice exports should be as high as 10.7 million tons worth about 5 billion US dollars. She predicted that next year’s volume would be slightly lower, but the value would increase to 5.2 - 5.3 billion US dollars, due to lower global output affected by natural disasters and drought, contrary to the rising demand.

Source: National News Bureau & Public Relations