AGRICULTURE
Auctions urged for rice
Reshuffle removes Kittiratt from lead role
- Published: 9 Mar 2013 at 00.00
- Newspaper section: Business
The state is being urged to sell its rice stocks via auctions and the Agricultural Futures Exchange of Thailand as a means of curbing losses more nimbly than through "secret" rice sales.
Customers walk past stacks of bagged rice at a supermarket in Bangkok yesterday. Many packers are offering bargain prices as the state seeks an efficient way to unload its huge stockpile of rice. TAWATCHAI KEMGUMNERD
"The government is now put in a dilemma, as it controls a massive rice stockpile and needs to speed up sales to raise proceeds to repay the Bank for Agriculture and Agricultural Cooperatives (BAAC), the chief financier of the rice pledging scheme," said Nipon Poapongsakorn, a former president of the Thailand Development Research Institute (TDRI).
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
