Thai minister, team to ask Vietnam to help stabilize rice prices.
Thailand’s Deputy Commerce Minister Alongkorn Ponlaboot is scheduled to leave for Vietnam on Sunday for a three-day visit to find ways to keep rice prices stabilized.
Thai rice exporters and farmers’ representatives will accompany Alongkorn during the visit which is also aimed at strengthening relations between the two neighboring countries.
Both countries now export more than 50 percent of the total global rice demand, or approximately 15 million tons.
But rice prices on the world market moved with considerable volatility last year, and the average price this year stands at between US$600-700 per ton. Vietnamese rice stands at the average price of US$400 per ton which is almost similar to Thai rice.
The Thai Commerce Ministry believes that the appropriate price for rice should be at about US$700 per ton, which could also help support higher domestic prices in the two countries and benefit farmers.
