Public warehouse´s MOU on rice export cancelled

BANGKOK, 12 December 2009 (NNT) – The Public Warehouse Organization (PWO) has terminated its rice export MOU with a private company.

Thanaporn Sriyakul, an adviser to the commerce minister, said last Tuesday that the MOU had been signed three months ago to allow the GGF company to buy rice of two million tons from the organization for export. The advisor confirmed despite the MOU cancellation, the PWO would continue exporting rice and find a new company to replace the GGF.

However, the GGF Thailand will still rent silos from the PWO but its parent Malaysia-based company GGF Golden House will not longer buy rice from the PWO for export.

GGF Golden House earlier requested the PWO to allow it to export rice at fixed prices with the organization giving a discount of not exceeding 25%.

The cancellation was mutual, Mr Thanaporn said.