Thailand govt to liquidate 18 million tonne rice from reserves.

Thailand Prime Minister has asked the commerce ministry to sell 18 million tonne of stocked rice to save the huge cost of maintaining inventories. The government has already sold 13 million tonne of rice procured from farmers at a minimum support price. The government took three years to sell the rice stock and it fetched lower prices but deteriorating quality of the grain made the sale necessary. Thailand competes with India in the global rice export market.