Say Hello To OREC - The Organization Of Rice-Exporting Countries - Forbes

[hatrack]

BANGKOK (Thomson Financial) - Thailand has agreed in principle to form a rice price-fixing cartel with Myanmar, Laos, Vietnam and Cambodia as costs of the staple grain surge, Prime Minister Samak Sundaravej said on Wednesday. The grouping of Mekong nations would be similar to the oil cartel OPEC, and would be called the Organisation of Rice Exporting Countries (OREC).

'I have talked with Myanmar and invited them to join the rice exporting countries cartel, which will include Vietnam, Laos and Cambodia, to fix the price,' Samak told reporters.

Myanmar's Prime Minister General Thein Sein, in Thailand for an official visit, has agreed to join the group, even through the military-ruled nation is not currently a large rice exporter, he said. 'Thailand will help them in terms of technical support to improve their production for export,' Samak said.

Vietnam, Laos and Cambodia have also agreed to join, and Thai Foreign Minister Noppadon Pattama said OREC should begin meeting soon. Thailand is the world's largest rice exporter, shipping an estimated 9.5 million tonnes of rice overseas last year.

EDIT

http://www.forbes.com/markets/feeds/afx/2008/04/30/afx4951026.html

[phantom power]

1. Oh hell no.

x(

[HereSince1628]

2. The US is a big time rice producer.

I'm not too worried as I am not a gourmand of rice.

[DJ13]

3. I was afraid of this after the oil cartel has shown how to increase profits

Greed is contagious, its a shame none of the worlds leaders have the balls to put an end to the collusion these cartels represent.

[phantom power]

4. we've got to jawbone OREC, and bring down the price of rice!

:rofl:

[hatrack]

5. "I'll talk 'em into opening up the paddy gates!"

:rofl:, indeed!

[lapfog_1]

6. Called this more than a week ago...

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=389&topic_id=3198404#3198464

I hate being right so often... :hide: :rofl:

[Zachstar]

7. Protests? Riots? Nah lets join and make MORE profits!

I am going to have to learn how to get non OREC rice. As I don't want to give a dime to the fucks.