Thailand Government Sells 511,730 MT From Stocks

Thailand's Commerce Ministry has sold a combined 511,730 MT of white 5% broken rice accumulated under the 2005-06 and 2006-07 rice intervention programs whcih was offered at an auction earlier this month.

Rice sales so far this year have reduced the government's stockpiles to 1.8 million MT, down from 4.4 million MT at the beginning of 2007, and reduced storage costs by around THB14.5 million ($431,548) a month.