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Asian countries plan rice reserves

03-01-2011 09:40 BJT

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The Association of Southeast Asian Nations, plus China, Japan and South Korea plan to establish a rice reserve to help protect them from volatile commodity prices.

Economic ministers from the ASEAN plus three nations agreed at a two day meeting in Laos, for rice reserves of around 790 thousand tons. It's to help stabilize costs after global food prices surged to a record last month.

ASEAN includes the world's biggest rice exporter Thailand, and another major exporter Vietnam. Rice has this year managed to stay below the record-high prices attained by most other grains. But weather woes and fresh demand from major Asian importers, have stoked fears that the region's main staple may get costlier.

Editor:Xiong Qu |Source: CNTV.CN

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