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Wednesday, Jul 30, 2014

Asia

80 per cent of Thai rice in good condition

Reuters | Wednesday, Jul 30, 2014

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BANGKOK - Around 80 per cent of the rice being held in Thai state stockpiles after being bought from farmers under the former government's intervention scheme is in good condition, a member of the current military government said on Monday.

"Now the nationwide check-up on rice stocks has been done, we have found that around 80 per cent of the rice is in good condition. Only around 10-20 per cent is missing or rotten," General Chatchai Sarikalaya told reporters.

He was commenting on the inspection of 18 million tonnes of milled rice estimated to be in state warehouses.

"Since the rice is in fine condition, we don't have to rush to sell, which would depress global prices," he added.

The military government launched a nationwide rice stock inspection from July 2 to determine how to manage the stockpile.

General Chatchai said the government had authorised the Commerce Ministry's Department of Foreign Trade to gradually release stock to prevent global prices from falling sharply. The Commerce Ministry said it would resume rice stock sales in August after the sales were halted after the army took power on May 22 and ordered an inspection.

 

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