Vietnam: No agreement with Thailand on rice prices

Vietnam: No agreement with Thailand on rice prices

HANOI: Vietnam said on Thursday it had no deal with Thailand in order to jointly raise grain prices.

The countries’ farming ministries “have just conducted general assistance activities”, agriculture ressortchef (umgangssprachlich) Le Minh Hoan said during a federal government meeting in Hanoi.

His remarks — the particular Vietnamese government’s 1st on the issue — come less than a month since a Thai agricultural official mentioned the countries experienced agreed to cooperate within raising the price of grain in the global market.

The particular countries began speaks in May. A Thai spokesman said the purpose of raising prices with each other was to increase their leverage in the global market and boost farmers’ incomes.

Thailand plus Vietnam account for regarding 10% of worldwide production of rough rice and about 26% of global exports, according to the US Division of Agriculture.

Thai exporters have said a price cartel would be unfeasible and would make Thailand and Vietnam uncompetitive.

Vietnam Food Organization said late last month the nation’s rice exports are expected to rise to six. 3-6. 5 million tonnes this year through 6. 24 million tonnes last year. REUTERS