The government gradually get rid of excessive stocks of rice that were accumulated during the program "rice pledge".

Last month, the Ministry of Commerce of Thailand held two auctions, which sold 347,5 thousand tons of rice from government stocks, according to Reuters.

At the first auction four private companies bought 45,459 thousand tons of rice with a total value of baht 327 million ($9.36 million). This pic is of heterogeneous quality and can be used for food consumption and promyshlennoi processing.

On the second auction it sold 302 thousand tons of rice in five exporting companies, which resell it to international buyers.

Sales volume was much lower than planned because the prices offered by buyers were too low.

We will remind that the program "rice pledge", in which the peasant farmers gave the rice harvest to the government as collateral for the price of 5-7% above the average for wholesale abroad through direct intergovernmental contracts, started as an indirect government subsidy in 2011.