Six-Country Export Rice Pool Planned, Say Thailand Officials.

Dec. 1--A global rice pool among six major exporting countries is on the verge of becoming reality, but Thai officials say it will not be an Opec-like price-setting cartel.

The proposed pool would contain six countries that account for 70 percent of the world's rice trade: China, India, Vietnam, Pakistan, Burma and Thailand. Last year they exported 16.32 million tons of rice, out of the global total of 23.26 million.

Commerce Minister Adisai Bodharamik said the countries had agreed with Thailand in principle to form a cartel to strengthen their roles and stabilise world rice prices.

Dr Adisai acknowledged that the Organisation of the Petroleum Exporting Countries was a model but said: "The pool does not mean to have one export price from all countries or create market manipulation. The main objective is to have fairer rice prices with fewer fluctuations, in order to benefit local farmers."

When Thailand and Vietnam first agreed on such co-operation earlier this year, their rice export prices began to show more stability, he said.

Thailand was the world's top rice exporter last year with shipments of 6.55 million tons, followed by Vietnam (3.37 million), China (2.95 million), the United States (2.75 million), Pakistan (1.95 million), India (1.3 million) and Burma with 300,000 tons.

Bangkok is expected to be the site of the pool's first meeting early next year.