Vietnam says not in deal with Thailand to raise rice prices

HANOI, Sept 22 (Reuters): Vietnam's agriculture minister has announced that the country is not in a deal with Thailand to jointly raise rice prices.

The two countries' agriculture ministries "have only conducted general cooperation activities," minister Le Minh Hoan said in a statement during a government meeting in Hanoi.

The statement - the Vietnamese government's first on the issue - comes less than a month after a Thai agricultural official said the two countries had agreed to cooperate on raising the price of rice in the global market.

A Thai government official said on Thursday the two sides had been discussing rising production costs and supply issues, but were not "messing with the market price mechanism".

"We discussed these issues and how to make farmers get a fair price that reflects real costs," said Alongkorn Ponlaboot, adviser to Thailand's agriculture and cooperatives minister.

The two countries began talks in May. A Thai spokesperson said then that the objective of raising prices jointly was to increase their leverage in the global market and boost farmers' incomes.

Thailand and Vietnam account for about 10% of global production of rough rice and about 26% of global exports, according to the U.S. Department of Agriculture.

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

The Vietnam Food Association said late last month the country's rice exports are expected to rise to 6.3 million-6.5 million tonnes this year from 6.24 million tonnes last year on strong demand. - Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Vietnam , Thailand , Rice , Raise Price , No Agreement


Next In Aseanplus News

Lyles wins last 100m before Olympics in personal best of 9.81
Golf-Kim hits longest hole-in-one in Open history
Motor racing-Perez faces huge task after another Saturday nightmare
Tennis-Nadal reaches first final since 2022 in Bastad ahead of Olympics
Golf-Horschel shines to lead Open after brutal third round
Asean News Headlines at 10pm on Saturday (July 20, 2024)
Most Singapore services, including Changi Airport check-ins, back to normal after global outage
Wisma Putra monitoring riots in Bangladesh with Malaysian students' safety in mind
Bangkok hotel deaths: Vietnamese PM urges citizen protection and close coordination with Thai police
Maritime security meeting boosts Indonesian-Malaysian police cooperation

Others Also Read