Trairong downplays rice auction rumor

BANGKOK, 21 February 2010 (NNT) – Deputy Prime Minister for Economic Affairs, Dr Trairong Suwannakhiri, has dismissed a news report regarding an auction of two million tons of rice in government stocks.

Dr Trairong stated that the government had no policy to make an auction at present as he admitted that the rumor had brought the global rice price down. He said farmers were now suffering because the price of Thai rice plummeted from 17,000 THB per ton in early February to only 14,500 THB per ton at present.

Dr Trairong said he would bring to the attention of Prime Minister Abhisit Vejjajiva, a plan to call a meeting of the National Rice Committee within the week to discuss the falling rice price. He added that he would suspend the planned auction of 500,000 tons of rice by the Ministry of Commerce on Monday in an effort to pull up the rice price.

Meanwhile, Commerce Minister, Pornthiva Nakasai, confirmed that the rice bidding would move on as scheduled as she cited that it was approved by the cabinet’s meeting. She said it would be regretful if no companies would take part in the rice bidding on Monday.