Asian countries finding ways amid soaring rice prices
Updated: 2008-04-11 14:43
EXPORT RESTRICTIONS
Thailand seems the only one talking about selling as a number of countries have imposed restrictions to limit rice exports and keep more of their food at home.
Vietnam, the world's second-biggest rice exporter, has halted new exports deal for March and April shipment. Last week, Prime Minister Nguyen Tan Dung said Vietnam would cut rice exports by 22percent this year as it fought to rein in soaring inflation at home and secure food supplies.
Cambodia, which is experiencing a rice surplus, also announced this week to ban rice exports for two months.
The rice prices in the country have risen sharply from about 40cents a kilogram to highs of nearly one dollar, sparking demands that the government put a cap on costs.
Cambodian Prime Minister Hun Sen said the ban was a temporary measure to ensure food security, blaming the price hike on "economic sabotage."
Indonesia, which is another major rice producer but needs to feed a large population, is cooking a regulation on banning rice export. According to the leading economic daily Bisnis Indonesia, the government has been worried that expanding price gap between domestic and global markets could encourage local rice producers to heavily sell to export markets.
The government recently approved state-run logistic agency Bilog to import up to 1.5 million tons of rice to secure domestic supplies, even when the agriculture officials reported a likely surplus of 2.3 million tons this year in rice production.
The surplus was too small to turn Indonesia to a major rice exporter, the officials argued.
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