Thailand and Vietnam have agreed to cooperate to raise the price of rice on the world market, Alongkorn Ponlaboot, adviser to Thailand’s Minister of Agriculture and Cooperatives, said today in a statement following a new round table with Vietnamese officials. The two countries account for regarding 10% of global raw rice production and regarding 26% of global exports, according to the US Department of Agriculture (USDA).
Thailand and Vietnam began the talks in May with the aim of improving their export earnings, increasing their influence in the global market and boosting farmers’ incomes.
“It is (…) the first time that Thailand and Vietnam (…) agree to cooperate to increase the price of rice on the world market“, he explains, reports Archyde.com.
It was not immediately clear when the price increases would take effect. Alongkorn Ponlaboot said a summary of the latest round of talks and the recommendation to jointly raise prices would be presented to the two countries’ agriculture ministers at an unspecified date.
“Will the goal be achieved or not? I can not answer. But today we took our first steps together as strategic partners in agriculture“said Alongkorn Ponlaboot.
Note that from January to August, Vietnamese rice exports increased by 19% to 4.7 million tonnes (Mt), generating revenue of around $ 2.3 billion, up 8.5%.
