Thailand and Vietnam join hands to push global rice price up

An adviser to the ministry, Alongkorn Ponlaboot, said Thailand had asked Vietnam for cooperation in May.

He added that the cooperation was approved by Agriculture Minister Chalermchai Sreeon and his counterpart Le Minh Hoan.

"This is the first time that Thailand and Vietnam, the world's second- and third-largest rice exporters, have agreed to cooperate on boosting the global rice price," he said.

Both Thailand and Vietnam believe that the current global rice price is unfair to farmers, as they are suffering from debt and poverty, he said.

He also explained that rice production costs have risen sharply due to the Covid-19 crisis and the Russia-Ukraine war.

"If the situation continues, farmers would turn to growing other crops that generate higher income, leading to a decline in rice production with its greater impact on global supply of food," he said.

He said Thailand and Vietnam will set up an ad hoc working group to inform rice farmers and exporter associations about the cooperation.

He added that the cooperation would be expanded to other rice exporters in the future.

"Both parties have agreed to increase agricultural trade as well," he added.

In 2021, agricultural trade between Thailand and Vietnam was valued at 74.21 billion baht. Thai imports accounted for 25.46 billion baht and exports amounted to 48.75 billion, yielding Thailand a 23.28 billion baht trade surplus.