Thailand sells 305,554 tonnes fragrant rice

Thailand sold 305,554 tonnes of fragrant rice from government stockpiles through a tender to traders on Tuesday, a senior official said. The rice from the 2004/05 crop (November to October) could eventually be sold "domestically or internationally," Ration Potjanasuntorn, head of the Commerce Ministry's Foreign Trade Department, told reporters.
However, another 120,000 tonnes of 2005/06 fragrant rice for export only was not sold because traders offered below market prices, Ration said. Most traders had offered to buy at between $460 and 465 a tonne, free on board, he said. Thai 100-percent fragrant rice was quoted at $499 per tonne, free on board.