Commerce Minister Phumtham Wechayachai on Monday said that the government wants to sell the last stocks of decade-old rice.
Mr Phumtham said that he wants to auction off the rice left over from the controversial rice-pledging scheme of former prime minister Yingluck Shinawatra's administration so the government can at least earn some money.
"It is better than leaving the rice to rot to no value," he wrote.
Responding to concerns about aflatoxins in the decade-old rice that can cause cancer, Mr Phumtham claimed that if the quality of the rice is improved using modern technology, it will be safe to eat.
Defence Minister Sutin Klungsang on Monday denied a report that his ministry would buy the decade-old rice to feed soldiers.
Prime Minister Srettha Thavisin said earlier that the government will send samples of the decade-old rice for lab tests to ensure its safety.
A well-known organic chemistry expert who was asked by a media outlet to test samples taken from Surin has said he found aflatoxins on the rice.
Aflatoxins have been associated with an increased risk of liver cancer.