"We will have a bilateral discussion with the Vietnamese minister on this issue during the AEM meeting this month," Porntiva Nakasai told Reuters, referring to the ASEAN Economic Ministers meeting to be held in Danang from Aug. 23 to 27.
She said the two countries should cooperate more closely on exchanging rice information and work together in an effort to sell rice on the world market at favourable times to avoid depressing prices.
The two countries, which account for nearly half of world rice exports, signed a memorandum of understanding on rice cooperation in February 2009 but that only covered basic issues, such as information on production and weather conditions.
However, the idea of cooperation among producers seems to be gaining ground, notably in India, which used to be the second-biggest exporter before it banned shipments in late 2007 because of a drop in production and was overtaken by Vietnam.
Speculation is growing that the Indian government may soon authorise shipments again.
A leading rice exporter in India has raised the prospect of an alliance of exporting countries and even spoke of an "OPEC-like cartel" in a bid to support prices, although the idea has gone nowhere in the past.
Both Thailand and Vietnam are holding big rice stockpiles, bought from farmers to prop up domestic prices.
Thailand holds 6 million tons of rice and the government is making little headway in efforts to sell it without depressing prices further, for example though government-to-government deals.
Vietnam is also providing support for rice companies to buy up to 1 million tons of paddy from July 15 to Sept. 15 to hold in stockpiles. (Reuters)
