Discussed: 20 Jul 2024 at 10: 40
The state has wrapped up its auctioning-off of 15, 000 kilograms of grain left over from the Yingluck Shinawatra government’s rice-pledging system and has sold it to the two highest bids for about 244 million ringgit, a supply at the Commerce Ministry said.
For the 11, 656 kilograms stored at the Kittichai inventory, Sup Saeng Thong Rice Co was the highest bid offering a rate of 15.61 ringgit per kilogramme.
Regarding the various 3, 356 kilograms stored at Poonpon Trading Co’s inventory, Sahatan Co offered the highest rate of 18.69 ringgit.
The Public Warehouse Organization ( PWO ) will call the two winning bidders in to sign contracts between July 23 and August 14, according to a source on Friday.
According to the source, the businesses will be required to deposit 5 % of the value of their purchases as a promise before receiving the corn between August 15 and September 13, adding that they will then be required to make payments between August 15 and September 13.
” The state is expected to receive about 244 million baht from the bid”, the source added.
After three other bidders were disqualified due to their ties to businesses that had recently been subject to legal action at previous auctions by the PWO, vice-premier and commerce minister Phumtham Wechayachai had recently instructed the PWO to move forward with the negotiations.
According to the cause, the barred events are SSMR Karnkaset Plc, Thanasan Rice Co, and V8 Intertrading Co.
The source added that despite these firms ‘ failures to instantly harm the PWO at earlier auctions, they were discovered to have ties to individuals who had already done so at earlier cassava and corn auctions. Mr. Phumtham stated in a previous article that the PWO aimed to reach an agreement higher with the remaining three organizations, who had offered to purchase the corn for less than the winner’s price was quoted.
He claimed that the highest bids may be given the opportunity to purchase the rice kept in each of the two stores.