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02.05.2008 - Thailand calls for a rice cartel

Thailand wants to form an Opec-style rice cartel to give it more control over international rice prices.

The world's biggest rice exporter plans to talk to Laos, Burma, Cambodia and Vietnam about co-operating on prices.

The Czech Republic news are represented by www.czechrepublicprague.com

Rice prices have tripled so far this year with countries such as India and Vietnam restricting their exports.

A Thai government spokesman confirmed that the cartel idea had been discussed in talks between the prime ministers of Thailand and Burma on Wednesday.

"With the oil price rising so much, we import expensive oil but sell rice Neighbourly ties ...
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very cheaply and that's unfair to us and hurts our trade balance," spokesman Vichienchot Sukchokrat said.

Cambodia has supported the idea of a cartel in the past and the government of Laos has also said it would seriously consider the proposal.

(BBC)

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