Southeast Asia’s rice-exporting nations are in talks to create a formal alliance aimed at boosting prices and increasing export revenues, a move that could cause tensions with rice-importing nations.
But any bid by the five countries to drive up prices will be a challenge, given previous failures to cooperate. The latest effort comes as rice prices have barely moved this year, even as prices for wheat, corn and soybeans have climbed because of droughts in several exporting nations.
An alliance of Thailand, Vietnam, Cambodia, Laos and Myanmar will aim to share information and cooperate in production and marketing, with the goal of increasing rice export prices, Yanyong Phuangrach, Thailand’s permanent secretary for commerce said in Bangkok Wednesday. The aim is to form the alliance by the end of the year, he added.
SAMEER C. MOHINDRU And PHISANU PHROMCHANYA
Cambodia will push to finalise a rice-exporting bloc with four other regional countries by the end of the year in a bid to become the world’s “food basket”, according to the Ministry of Commerce.
The group of countries including Cambodia, Vietnam, Thailand, Laos and Myanmar – and known as the Association of Milled Rice Exporting Countries – would also look to become a counterbalance to Organization of the Petroleum Exporting Countries (OPEC). …
Hun Sen has theorised that the rice-exporting power of such a bloc could become a bargaining chip in negotiations with OPEC…
May Kunmakara, P. 7
CAVFOOD, a joint venture between Cambodian and Vietnamese companies, launched the first phase of its US$8 million rice mill in Phnom Penh on Friday.
The venture is an investment by Cambodian state-owned rice exporter Green Trade and Vietnam’s VNA Food 2 and Bank for Investment and Development of Cambodia (BIDC). …
Sieam Bunthy, P. 11