PUBLISHED: 13 Jun 2024 at 09: 04
Seven potential suitors have been chosen to participate in the auction price of 15, 000 kilograms of grain leftover from the rice-pledging structure of the Yingluck Shinawatra government.
The bidding of the last hoard of decade-old rice likely proceed as planned next Monday, according to vice president and business minister Phumtham Wechayachai.
Eight businesses, totaling eight, expressed interest in the bid and submitted certifications in earlier this year.
Seven of the candidates were approved to participate in the selling process, according to Mr. Phumtham. The finalists will be announced on June 21. Submissions can be made from 9am to lunch.
The wheat from the Surin warehouses of Kittichai and Poolphol is leftover from the contentious rice-pledging structure that is currently being auctioned.
Mr. Phumthan expressed confidence in the success of the auction, noting that the suitors appear to have no worries about how much the wheat has been stored. The government hopes to generate income of about 270 million baht and lower store prices, which are as large as 380, 000 baht per quarter, from the bid.
The winning bidder will have 15 days to agree to a contract with the Public Warehouse Organisation ( PWO ) to finish the transaction, according to the terms of reference. The highest bidder will have the right to sign the contract if the winner declines to do so. The company must pay the difference in price to the PWO if that offer is lower than the winner’s bid.