Stock checks ordered to detect rice hoarding

Commerce Minister Mingkwan Sangsuwan yesterday ordered a blanket survey of the government's rice stockpile nationwide and threatened to take legal action if grain was found missing.
Chookiat Ophaswongse, president of the Rice Exporters Association, said the stock survey could be a signal that the ministry may be planning to do something to address rising rice prices.
''We expect that the government is planning to release its stockpile, particularly for 5% white rice and low-grade rice which is used to produce animal feeds and noodles, to help local consumers,'' he said.
Deputy Commerce Minister Wiroon Techapaiboon said last week he would propose auctioning about 700,000 tonnes of rice in government stockpiles to help ease tight supplies, as the release of second-crop output is still relatively small.