The prime minister of Thailand, Samak Sundaravej, said Wednesday that his government would try to create a cartel of rice-producing countries in partnership with Vietnam, Cambodia, Myanmar and Laos.
“We don’t aspire to be like OPEC, but we hope to be just a group of five to help each other in trading rice on the world market,” Mr. Samak was quoted as saying in The Nation newspaper.
Governments in Thailand, the world’s largest rice exporter, have for many years toyed with the idea of using their dominant market position to influence the price of rice in the same way that the Organization of the Petroleum Exporting Countries tries to set crude oil prices.
The plan appears to be in a nascent stage. “I think it’s time to do it, probably within the term of this administration,” Noppadon Pattama, Thailand’s foreign minister, said Wednesday. More...
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