Thailand Announces Auction Of 913,439 MT

Thailand's Commerce Ministry has invited bids  as it offers to sell a combined 913,439 MT of  Jasmine fragrant grade, white 5% broken and 25% broken grades from its 2004-05 and 2005-06 crop years accumulated under the price intervention programs.

The rice is mostly for exports and local rice exporters and millers are invited to submit their bids in Thai baht and U.S. dollar terms.

Thailand's government is seeking to reduce its rice stockpiles to 2.5 million MT from a total of 4.4 million MT by the end of this year.