“Although the bidding amount is quite huge, it should not affect the market price as demand is high in the market.

“The government will consider the price factor and demand to ensure the utmost benefit for the country,” Duangporn Rodphaya, director-general of the Foreign Trade Department, said yesterday.

The auction amount is the largest since November 2008, when Samak Sundaravej was prime minister and Chaiya Sasomsub was commerce minister.

This round will be the incumbent government’s fourth this year and 16th after it came to power in 2014.

It has released 6.12 million tonnes worth Bt64 billion in the previous 15 rounds.

There are about 10 million tonnes remaining. If it could move out this lot of rice, there would still be about 8 million tonnes in the government’s warehouses. The government has vowed to reduce its inventory to zero by next year.

This round will include many varieties, such as Hom Mali rice, 5-, 10-, 15- and 25-per-cent white rice, provincial fragrant rice, Pathum Thani rice, glutinous rice and broken white rice.

The rice will come from 173 warehouses in 35 provinces.

Interested parties can inspect the rice from June 6-10 before it goes on the block on June 15 at the Commerce Ministry’s head office in Nonthaburi.

Charoen Laothammatas, president of the Thai Rice Exporters Association, said the bidding is coming at a good time, as market demand is high.

The government could continue holding auctions for three to four months before the start of the harvest season late this year.

“The bidding should not create a negative impact on the rice price in the market. “Rice is currently priced high at Bt14.50 per kilogram, rising from last month’s Bt11 per kg, while paddy rice is quoted at Bt9,500 per tonne, up from Bt7,500 per tonne early this year,” he said.

Kriengsak Tapananon, secretary of the Thai Rice Mills Association, agreed with the government’s release of rice from its stockpiles during this period.

Many rice traders are expected to join the bidding, as supplies are lower than usual, he said.