Thailand wants to form an Opec-style rice cartel to give it more control over international rice prices. The world's biggest rice exporter plans to talk to Laos, Burma, Cambodia and Vietnam about co-operating on prices. Rice prices have tripled so far this year with countries such as India and Vietnam restricting their exports. But the idea was met with opposition. The Philippines, the world's biggest importer of rice, also raised objections. "Almost three billion people are rice eaters," said Edgardo Angara, chairman of its senate committee on agriculture. "It's not a good idea, it's a bad idea. It will create an oligopoly and it's against humanity." BBC NewsThink about how a cartel of this nature would have control over rice prices. Who would gain from such an arrangement?
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