Narinjara news

January 17, 2002


MYANMAR AGREES TO JOIN ASIAN RICE CARTEL

Myanmar has agreed in principal to be part of a rice "cartel" formed by Asia's Leading rice exporters aimed at regulating prices as well as stabilizing the world market sources here said.
Thailand, Vietnam, China, the United state, Pakistan, India and Myanmar in that order are the world's leading rice exporters with annual exports totalling 18 million tons according to 2000 figures.
The envisaged six- Nation organization would comprise Thailand Vietnam, China, Pakistan, India and Myanmar which together make up 70 per cent of the world's rice exports, the industry sources said.
Thailand floated the proposal last month, saying the association would be modelled on the Organization of Petroleum Exporting Countries (OPEC) but would not act as a price-fixing cartel.  #
Source: today Daily Star Newspaper from Bangladesh