Smith and Roberson’s Business Law
17th Edition
ISBN: 9781337094757
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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The Thai government chose to align with Vietnam instead of India in creating the rice price agreement because it believed this move would build its international rice market dominance. By collaborating with Vietnam which exports the world's third-largest amount of rice Thailand can gain better pricing control and solve their joint problem of rising production expenses. Market prices could experience substantial changes through collaborations between Thailand and Vietnam who stand as the second and third-biggest global exporters respectively.
The proposed agreement intends to reduce the financial pressure on farmers by boosting export prices since rice prices have stayed minimal for twenty years while production prices have increased. Thailand and Vietnam cooperate through this partnership to simultaneously boost farmer salaries and strengthen their market position in worldwide trade.
Multiple elements explain why India is not part of discussions taking place between Thailand and…
Indicate two (2) future trends that in your opinion are likely to affect the procurementand supply management of rice for Singapore. Justify with examples specific to thesupply of rice.
I have researched on past Past examples of other soft commodities:- on 28th April 2022 Indonesia announced a complete ban on palm (cooking) oilbecause of domestic shortages resulting in rising prices. This ban was lifted 23rd May2022, three weeks later.- on 14th May 2022 India banned the export of wheat exports with immediate effect, tocalm local prices.- on 23rd May 2022 Malaysia announced the ban on export of live chickens toSingapore effective from 1st June 2022 - to curb domestic supply and pricing issues.This ban was eventually lifted 11 Oct 2022, four and a half months later.
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- Article: Rice and the Climate Crisis 4/4: The significance of reducing food waste as climate change hits rice productionAdapted for academic purposes from: https://www.channelnewsasia.com/singapore/rice-and-climate-crisis-significance-reducing-food-waste-climate-change-hits-rice-production-2572866SINGAPORE: Food wastage has been in the crosshairs over the past few years, amid Singapore’s broader ambitions to become zero-waste.And it's an issue that will become more salient as climate change continues to hit global food production.9In 2021, Singapore generated 817,000 tonnes of food waste, a jump from the 665,000 tonnes in 2020, according to data released by the National Environment Agency this week.Despite years of campaigns, more public education is still needed, said Professor Paul Teng, Adjunct Senior Fellow (Food Security) in the S Rajaratnam School of International Studies.“The proposed saving techniques are already well known and rolled out – buy and cook only what you need,…arrow_forwardThailand wants rice pricing deal with Vietnam for 'bargaining power' Academic adaptation from: https://www.channelnewsasia.com/business/thailand-seeks-rice-price-pact-vietnam-boost-bargaining-power-2711736?cid=internal_mcdrecs_04072022_cna#mdcrecs_s BANGKOK: On Friday (27 May), a Thai government official said Thailand and Vietnam are in talks to raise rice export prices to gain global market leverage and boost farmer incomes. Thai and Vietnamese agriculture authorities, the world's second and third largest rice exporters, met in Bangkok on Friday to explore ways to support their farmers and rice sectors and control rising production costs. Thai government spokeswoman Thanakorn Wangboonkongchana said, "We aim to raise rice prices, increase farmer income and increase bargaining power in the global market," after talks at a farm expo. "The rice price has been low for more than 20 years while the cost of production has been increasing." Pricing increases were not immediately addressed by…arrow_forwardFuture Trends in Rice Supply for Singapore What are some upcoming challenges that could affect how Singapore gets its rice? Think about how past events, like Indonesia banning palm oil exports or India stopping wheat exports, caused disruptions. Could similar things happen with rice? Share some examples to explain your thoughts. I have researched on past Past examples of other soft commodities:- on 28th April 2022 Indonesia announced a complete ban on palm (cooking) oilbecause of domestic shortages resulting in rising prices. This ban was lifted 23rd May2022, three weeks later.- on 14th May 2022 India banned the export of wheat exports with immediate effect, tocalm local prices.- on 23rd May 2022 Malaysia announced the ban on export of live chickens toSingapore effective from 1st June 2022 - to curb domestic supply and pricing issues.This ban was eventually lifted 11 Oct 2022, four and a half months later.arrow_forward
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