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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