April 28, 2008
Bangkok - Commerce Minister Mingkwan Saengsuwan plans to discuss with India and Vietnam to set the rice price in the world market.
India’s Commerce Minister was scheduled to visit Thailand on April 27.
Mingkwan will propose such idea to India’s Commerce Minister. This is similar to the way the Organization of the Petroleum Exporting Countries (OPEC) sets the oil price in the world market.
If India agrees to the proposal, the issue will be further discussed with Vietnam.
Thailand, India and Vietnam have a combined market share of more than 60%.
Mingkwan previously said the rice price would reach 30,000 baht per ton, and this was much criticized for messing up the rice market.
Asked about the rice shortage, he insisted Thai people would have enough rice for consumption.
Commerce Ministry cancelled its plan to sell 2.1 million tons of rice in stock to consumers.
The cancellation is to deal with uncertainty in next harvesting season.
