Vietnam Denies Deal with Thai Gov’t to Jointly Lift Rice Prices

Vietnam’s agricultural minister stated on Thursday that the country is not in talk with Thailand to jointly raise rice prices, and that the two countries “have only conducted general cooperation activities”. 

According to Reuters, the latest statement issued by the Vietnamese government on Thursday comes less than a month after a Thai agricultural official stated that the two countries had agreed to cooperate in raising the global price of rice.

The two countries began talks in May, said in a Reuters report. The goal of hiking prices, according to a Thai government’s spokesperson, was to improve their leverage in the worldwide market and boost farmers’ incomes.

The US Department of Agriculture estimates that Thailand and Vietnam are responsible for roughly 10% of global production of rough rice and roughly 26% of global exports.