Thailand Suggests OPEC-style Cartel For Rice

Thailand, the world's biggest rice exporter, has advocated the formation of an OPEC-style cartel with four Southeast Asian neighbors in order to have more control over international rice prices.

Thai Commerce Minister Mingkwan Saengsuwan plans to talk with his counterparts in Laos, Myanmar, Cambodia and Vietnam about forming a cartel to gain more influence over prices.
  
Rice prices in Asia have tripled this year, with the regional benchmark hitting US $1,000 PMT for 100% Grade B white rice.