Following its plans to auction an additional 1 million tonnes of rice in an open tender, as a measure to cut down on its accumulated rice stocks, the Government of Thailand sold 1.148 million tonnes in early July. The auction was the fourth stock release this year and the highest amount sold in an auction since the new Government took over the country in May 2014. The tender raised about 11.08 billion baht (USD 327 million). The Government still holds 14 million tonnes of rice in stocks, which plans to release in 2015 and 2016.