The 2nd Infantry Regiment the King's Own Bodyguard raided the warehouse of Phoenix Agritech (Thailand) Co Ltd after being tipped that rice had been moved from the site.
The warehouse was supposed to contain 130,000 sacks of rice but contained only 39,000. The rice in the warehouse was broken rice and 5% white rice and some had been damaged by insects.
They also found scaffolds in place of the missing sacks to prop up the sacks in the front rows so that the warehouse appeared full.
The rice was under the supervision of the Marketing Organisation for Farmers, for which Phoenix was serving as a contractor.
Previously, 10,000 sacks of rice had been reported missing on July 9 and Nov 12, 2013.
The rice came from the 2012-13 pledging programme. Soldiers will check whether the rice in the warehouse is the same as what was pledged.
In the meantime, they have assigned their men to guard the warehouse and will file a compliant with the police later.