Results of 10-year-old rice auction delayed by investigation

The Public Warehouse Organisation (PWO) was tasked with conducting a thorough review of all six bidding companies and gathering information from relevant departments to ensure that their operations comply with legal standards.

After the PWO reports the results to Phumtham, the results will be announced, including which companies failed the inspection, and then rice price negotiations will resume with the remaining companies.

The PWO has already provided Phumtham with some preliminary information. The delay in announcing the winner of the tender is due to the awaiting confirmation documents from the relevant authorities to ensure transparency and prevent future problems.

An in-depth investigation of V8 Intertrading indicates irregularities and suggests that the company may not be selected as the successful bidder.

Sources in the Ministry of Commerce stress that this rice auction has become a political issue. Phumtham insists on a thorough process to ensure accountability to the public, which has contributed to the delay.

Even if V8 Intertrading is disqualified, it is expected that the proceeds will still be significant when PWO negotiates with the other bidders, whether the price is lower or higher. This should ensure that there are no criticisms or legal consequences following the auction.

After V8 Intertrading, the next highest bid came from Sahatan Co Ltd at 18.69 baht per kilo, Tanasan Rice Co Ltd offered 18.01 baht per kilo and the sixth highest bid was 12.20 baht per kilo.