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- Title
THE CARTEL OF GOOD INTENTIONS? OREC AND FOOD SECURITY IN ASIA.
- Authors
Brummer, Matthew
- Abstract
This paper examines the issue of food security in Asia as it relates to the production, consumption and trade of rice. The Organisation of Rice Exporting Countries (OREC) is used as a foundation from which to assess the potential economic and political implications of the rice price-fixing regime forming in South East Asia. While the case is made that theoretically OREC has the potential to serve as a value producing mechanism for the greater good, assuming realistic conditions, this paper recommends against the formation of OREC as a cartel. Three recommendations aimed at alleviating rice market asymmetries are offered in lieu of OREC as a supply management regime. These are: (1) OREC as a rice traders' association under the auspices of the existing body the Ayeyawady - Chao Praya - Mekong Economic Cooperation Strategy (ACMECS); (2) the formation of an OREC lobbying arm geared towards reducing ASEAN and APEC rice trade restrictiveness; and (3) OREC as a guarantor of regional and global rice stock reserves, and the creation of a rice storage facility network throughout the sub-region. While a more comprehensive and integrated framework for information sharing aimed at solving market inefficiencies is recommended, the notion of OREC as a cartel of good intentions is rejected.
- Subjects
ASIA; RICE exports &; imports; RICE industry; FOOD security; FOOD production; FOOD consumption
- Publication
Asian Journal of Public Affairs, 2011, Vol 4, Issue 1, p27
- ISSN
1793-5342
- Publication type
Article