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Topic Summary

Posted by: thaiga
« on: May 20, 2015, 04:47:46 PM »

11 million tonnes of govt rice stockpile 'substandard'

The Commerce Ministry has found 11 million tonnes of substandard rice in its stockpile accumulated during the previous government, and estimated the total worth at 400 billion baht in lost sales.

Commerce permanent secretary Chutima Bunyapraphasara said the Rice Policy and Management Committee meeting, chaired by Prime Minister Prayut Chan-o-cha, agreed the government should sell 16 million tonnes of the rice in the stockpile.

It wanted to release the grain as soon as possible as the storage cost was high at 30 million baht a day, or 60 baht a tonne.

She said of the total stock, five million tonnes were quality rice, of which 2.9 million tonnes had already been sold so there was about two million tonnes of the quality rice left. Another 11 million tonnes did not meet the quality standard of the stated grades. 

The government expected to earn 200 billion baht from releasing the overall stockpile, so the loss would be around 400 billion baht as the cost was about 600 billion baht.

FULL ARTICLE: Bangkokpost