Thailand announces 3.66 million tons of rotten rice to be auctioned March 23

In Thailand, the National Rice Policy Committee agreed to open another round of bidding for rotten rice on March 23 for 3.66 million metric tons. The rotten rice is allowed for industrial uses including biofuels and is part of a major destocking program after the government built up rice stocks in an effort to support prices for farmers. The country is looking to boost its supplies of ethanol in line with wider policy goals to become the region’s ethanol and bioindustrial hub.